2017 is off to a bang in Breckenridge. While the number of available listings is only a fraction compared to this time last year, sales are up over 56% across all residential property types and up 100% for single-family homes alone. All other areas of the county are trending in a similar manner, with available residential listings lagging behind 2016 numbers between 25-40%, with the notable exception of townhomes. Townhomes alone buck the trend; there are twice as many listed today as compared to this time last year. Pending sales numbers are also high, leading us to predict continuing growth in February.
A multi-year trend of declining available listings makes one wonder- do people love their Summit County homes so much that we just don’t want to sell them? A little corner of paradise does seem like a pretty good idea. Record low days on market, hearty appreciation and strong list-to-sales price across almost all segments indicate that Buyers’ feel the same affinity for our corner of the world.
Breckenridge Associates proudly maintains a strong presence in the market helping our clients- we’ve had a hand in nearly a quarter of all real estate that has changed hands in Summit County in 2017.
The January Jobs Report also seemed to come out roaring, but digging in behind the strong job creation headline revealed disappointing wage growth. Economists seem to disagree on how this will impact the next decision on short-term rates at the March 15, 2017 meeting of the Fed. Rates for Conventional 30 Year Fixed-Rate Mortgages are currently around 4.00%. As I write this on Wednesday Feb, 08, multiple keys rates have fallen, and are down around .05% from last week’s numbers. While we have seen a slight climb in rates from last years lows, my father would be happy to tell you about the mortgage he took for 18% in 1981, and how your home is an asset you can live in.
As always, the Broker/Partners at Breckenridge Associates Real Estate would be honored to help you navigate the beautiful landscape of Summit County real estate. Contact us today!