The end of skyrocketing prices?
As ski season comes to an end, selling season begins! Put the skis away and take out the For Sale signs. If you have been wondering whether to list your Breckenridge or Summit County mountain property, we hope the first quarter Summit County MLS statistics will give you the answer.
The most significant statistic from the 2022 first quarter report is that residential property sales in Breckenridge are down 42% from end of March 2021. For all of Summit County, sales are down 31%. Inventory is slightly up in both Breckenridge and Summit County. List-to-sales-price ratio remains the same for March 2022 as it was in March 2021 (100%). Summit County inventory peaks June-September once ski season makes its farewell on Memorial weekend next month.
The drop in sales volume has not equated to a drop in price, yet price per square foot and average sales price remain high. Conversely, appreciation is down 11% from 2021’s 27%, although still at one of the highest levels in the past 10 years. Mortgage rates are up 30% and expected to climb throughout the remainder of the year, which may affect demand.
Should you sell in 2022? The statistics above clearly point to a changing market. Your Breckenridge Associates agent can advise what is best for you and your particular property based on your needs and goals.
When it’s time to list your property, a look at the statistics can tell you who to list your property with. Breckenridge Associates Real Estate remains the number one leader year after year for sales volume at all price points, selling sides, properties sold and market share in Breckenridge and we are in the top 3 by a single office for all of Summit County annually. You’ll see more of our solid red For Sale signs around the county than those of the competition, although they don’t sit out long. Our agency has 20 talented owner/brokers who use their decades of knowledge and experience to get the highest and best price for our clients with each and every sale along with a smooth and easy transaction process.
For additional market statistics, click here.
Our office is located in the heart of Breckenridge on Main Street, open 7 days a week. We can also be reached by phone, email or our website. We look forward to working with you in 2022!
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