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Real Estate Activity in Breckenridge & Summit County, Colorado More Than Doubles Since June

Posted by Breckenridge Associates Real Estate on Wednesday, October 21st, 2009 at 2:12pm.

Momentum in our local real estate market is continuing to build with increased activity in the late summer months of 2009. In June, the combined number of transactions among single family residences/duplexes, condos/townhomes and land was at 55. After closing the month of September, this number has more than doubled with 117 sales. Data for the past 45 days indicates even greater activity on the horizon with 161 pending sales. The first graph below highlights the lows of early 2009 as well as the upswing in transactions experienced over recent months. The second graph shows the sold data since 2007.

If you're considering a home or investment property in Breckenridge or Summit County, Colorado and are still on the fence, you can feel confident knowing you aren't the first taking advantage of current market conditions. Many investors have entered back into our market and demand is steadily increasing. Average sales are realizing 2005 prices and the selection is better than it has been in years. However as demand begins to grow, this too could change. If you wait until the spring to begin your real estate search and activity continues to grow as it has in the past months, you may miss some of the exciting opportunities on the table today.

From a National perspective, The National Association of Realtors has reported pending home sales are up again - continuing their seven month growth streak. Pending sales rose in 12.4 percent from August 2008 to August 2009. The index reads at 103.8, its highest reading since March 2007. Visit this link to view to the full story as reported by RIS Media. Also in the news October 14, the Dow closed above 10,000 for the first time in a year and reclaimed 10,000 again October 19. Visit this link to view the full story as reported by CNN.

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