2020 sales through October 31st brought stats none of us saw coming. Like the rest of the world, we have been shocked this year by circumstances never before encountered. Knowing the Breckenridge real estate market fared better than most back in 2008, we could only be cautiously optimistic. When public health allowed real estate showings to resume this past June, we were more than pleased to see buyers returning, but never expected to see the surprising gains reflected in the October stats report.
Clearly, people want to own property in the mountains. Sales prices are going up and inventory is going down. Our office is following this trend with an increase of 23% in sales dollar volume. While residential sales are up, the number of listings are down 47%. There are currently 117 residential listings in Breckenridge compared to 223 this time last year. While residential sales are on the rise, vacant land sales have been steadily increasing as well. The number of 2020 land sales are on track to double those of 2019.
October showings were up 22% over October 2019, and up 16% year to date. The average single family home price is $1.6 million for Breckenridge and $1.46 million for Summit County, both record-breaking highs.
By far, the statistics we are most proud of are our number 1 positions in dollar volume, properties sold, in-house sales and in-market-share percentage for all Breckenridge real estate offices.