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Mountain Town Sales Prices Trend Upward

Posted by Breckenridge Associates Real Estate on Saturday, March 9th, 2019 at 10:02pm.

Mountain resort towns, such as Breckenridge, historically have shown steady trends in sales price growth due to being naturally positioned as luxury markets. Breckenridge is charming all on its own, but checks all the boxes when it comes to access, amenities, year-round services, and small town appeal. These attributes are key to mountain town markets and help to provide significant value to the Breckenridge homeowner and buyer.

Immediate access to recreation and a multitude of available commercial amenities set Breckenridge apart. Mountain and trail accessibility, dozens of restaurant choices, boutique shopping, free and easy public transportation, a neighboring medical center and key anchor stores, such as Whole Foods and Target, in nearby towns help drive real estate premiums.

Breckenridge is an outdoor lover’s paradise. As interest in year-round outdoor activities like skiing, snowboarding, hiking and biking continue to grow, prices grow also. Breckenridge may be known for world-class skiing and snowboarding, but summer tourism is catching up. Increased summer activities like Peak 8’s Epic Discovery at Breckenridge Ski Resort (think ziplining, roller coasters, mini golf and climbing walls), BreckCreate’s host of workshops and classes, hiking, rafting, mountain biking, golf, and an event nearly every weekend provide endless options for the outdoor enthusiast to choose from. Off-season is changing, too. The ski resort plans to extend the ski season through Memorial Day this year for the first time since the 1990s, and hopes to continue this extension of the season in future ski seasons as well.

Ski area and U.S Forest Service boundaries help to limit the growth in Breckenridge. Breckenridge will always be a small town. Because of this, inventory is somewhat set as growth is constrained by its natural setting. Supply is limited, which pushes up prices.

Breckenridge continues to keep its charm and local appeal while putting its best foot forward and growing in areas which support a continued increase in home values, and mountain towns such as Breckenridge continue to be a wise investment for homeowners and future buyers.

Source: RCLCO, US Mountain Community Summit, February 20, 2019. Based on single family and condo sales.

 

 

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