Real Estate Market Report for Summit County | Breckenridge Associates Real Estate

Historical Breckenridge Single Family Market Appreciation Report

The real estate market is “normalizing”… What exactly does that mean for our unique Summit County market?

Year to date, the number of real estate sales for 2022 are down 42.31 % in Breckenridge and 32.64% for all of Summit County as compared to the record-breaking sales of 2021. However, bubbles have not burst, as the saying goes, but rather shifted back to a steady yet measurable level similar to what was recorded prior to the COVID 19 Pandemic.

Despite this shift to “normalization,” inventory is still low. The number of active listings in Summit County is 488 versus the mean average of 922 for the third quarters of 2013-2019.

The average price for a single-family home remains strong at $2,366,578 for Breckenridge, and $2,125,233 for all of Summit County. The average price of a condominium remains strong at $928,554 for Breckenridge, and $799,399 for all of Summit County.

In Keystone where properties are exempt from new short-term rental caps and moratoriums on rental licenses, sales for 2022 are only down 19.92%.

Breckenridge Associates Real Estate remains the #1 office in Breckenridge, leading with $167.5M in total sales volume from 84 sales, year to date.

Real estate, particularly in Summit County, Colorado continues to be one of the best long-term investments. Year-to-date appreciation is up an average 14.29%. Compare that to the top 3 stock market indices: As of October 15, 2022, the Nasdaq Composite is down 34%, the S&P 500 is down 25%, and the Dow is down 19%.

With a limited and fixed supply of developable land remaining, combined with the national and international appeal of the Colorado Rocky Mountains, we anticipate Summit County will continue to be one of best places in the country to buy and hold real estate for the long term.

For more statistics on our local market, click here

Posted by Breckenridge Associates Real Estate on
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