For the first time in six years, the number of active listings in Breckenridge is within statistical striking distance of the previous years numbers. This is great news for buyers, and should help to provide a little breathing room as you search for your dream mountain home. However, we are still in a competitive and fast moving market, best illustrated by the condo and townhome statistics for all areas and all price points; they are selling at an average of 98% sale to list price, and are only on the market for an average of 52.5 days. So while you have a little more to choose from then we trend watchers may have anticipated for June 2017, a strong game plan and knowledgeable broker are still your best bet.
Average prices continued to climb, with greater Summit County having an average Year to Date condo sale price of $427, 092.00, average townhome price of $662,259.00 and single-family homes selling for an average of $1,270,910. IN Breckenridge, where prices are historically higher, the average condo Year to Date sold for $555, 933.00, townhomes for $672,877.00 and single-family homes clocked in at an average of $1,366,912.00. Keep in mind these are average Year to Date numbers, with inventory available both above and below the average sale prices. As with most things, knowledge is power, and no one knows Breckenridge and Summit County like we do.
The May Jobs report was a mixed bag of slower than expected job creation, but saw a 2.5% bump in wages and the lowest unemployment rate since May 2001. Economists seemed mixed on the overall takeaway though most seem to agree that the stats indicate strong enough growth to expect a Fed rate increase at the June meeting. The specter of an additional September rate increase still looms as well. What does this mean for you? Once you find that dream home, get your mortgage rate locked. Our brokers have longtime, deep relationships with local lenders and are happy to help steer you towards a trusted partner.
So- the key takeaways for June 2017? Get outside and enjoy this summer weather in the high country- as they say, its the snow that brings you and the summer that keeps you. Remember your sunscreen. Hydrate. A good guide, whether in the backcountry or in the real estate market, is your best friend. Once you find your dream home, lock down your mortgage rate. The broker/owners at Breckenridge Associates are ready, willing and able to help you find your dream home. Whether its your first or your 10th, we, along with our robust support staff, are here to help. We are proudly the top selling office in Breckenridge, and would love to welcome you to our high country family. Now get out there, and drink your water!