Blog Entries Tagged: market updates
Found 14 blog entries tagged as market updates.

2024 Summit County Real Estate Market Report

The 2024 Summit County real estate market is currently experiencing two contrasting markets. In one market, Breckenridge is facing record-low inventory levels and unprecedented demand for luxury homes.  The other, broader Summit County market is seeing a different story playout, with rising inventory levels and slowing demand, particularly for properties that appeal to buyers who require financing.

This dual-market dynamic highlights the need to understand each segment's unique characteristics to navigate today's real estate landscape successfully.

Breckenridge: Luxury Market on the Rise

Breckenridge continues to see a boom in luxury home sales, driven by cash buyers looking to diversify their…

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The Appeal of Summit County's Luxury Market

Summit County has long captured the attention of luxury buyers seeking a mountain retreat with the convenience of proximity to Denver, breathtaking scenery, world-class skiing, and year-round recreation. Over the past year, we’ve watched both the demand for high-end properties and in return, the addition of new luxury developments, surge. From Breckenridge to Keystone, current trends in the luxury market reveal an emphasis on modern design, open-concept layouts, and easy access to outdoor activities, making Summit County a premier destination for buyers looking to invest in an elevated mountain lifestyle.

What Luxury Buyers Are Looking for Right Now

Modern Mountain Architecture and Design

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Buying Behavior Shifts as Q3 Ends

Summit County, CO Real Estate Market Performance Q3 2024

The real estate market in Summit County is continuing to normalize toward pre-COVID levels, as we see an emerging re-balance between supply and demand. With an increase in available properties and a consistent stream of price reductions, many buyers are more patient than they have been since the 2016-2019 period.

While the number of properties on the market has increased, the number of units sold is trending back toward the record lows Summit County experienced during the post-recession era of 2009-2012. Yet, despite these shifts, property prices—except for vacant land—continue to reach all-time highs.

A Unique Market Trend: Higher Prices, Lower Demand

Economically, the combination of higher supply,…

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Breckenridge Market: Record Valuations Persist As Signs of Balance Develop

Breckenridge Real Estate Market Appreciation Stats 2024 Q2

The real estate market in Breckenridge continues to show strength, with most property types closing at record valuation levels. Yet indicators are suggesting a shift towards a more balanced market, with increasing inventory and decreasing buyer showings.

A Detailed Breakdown of the Breckenridge Market Performance:

Breckenridge Single Family Homes: Values are up by 16.59% year-to-date (YTD) compared to 2023, with an average sold price of $2,777,979. Properties are selling at 96% of the list price, averaging $791 per square foot (SF), and spending 72 days on the market (DOM).

Breckenridge Townhomes: The market has slightly leveled off, down by 1.82% YTD compared…

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Summit County's Newest Luxury Developments

Summit County is eager to welcome three exceptional new luxury property developments, each promising an unparalleled mountain living experience. These projects are set to redefine sophistication and convenience, offering residents top-tier amenities and stunning natural surroundings. Whether you're seeking the perfect retreat close to world-class ski resorts, a secluded sanctuary with expansive acreage, or a contemporary townhome with direct access to premier outdoor activities, Summit County's latest offerings have something for every luxury homebuyer.

Arrowleaf Townhomes

Arrowleaf Townhomes in Silverthorne, Colorado

Escape to the mountains for an adventure packed getaway whenever your passion calls. With easy access to I-70, Arrowleaf…

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Q1 Brings Positive Growth Across All Property Types

The first quarter of 2024 has seen an upward trend across all property types. The ongoing all-time high valuations in the equity markets, coupled with positive "soft landing" national news and historically low inventory levels have continued to drive growth in our resort market.

Impact by Property Type in Breckenridge:

Single Family Homes Up 15.83% YTD

The average sold price for Single-Family Homes has increased to $2,759,808, representing a 15.83% appreciation over 2023. This property type is selling on average at 95% of the list price, with an average price per square foot of $749, and an average days on market of 102.

Townhomes Up 14.08% YTD

Townhomes have seen a 14.08% increase…

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May Marks the Start of Listing Season

May is usually a quieter month in Summit County, as the resorts close for the season and families around the country are focused on the last month of the school year. While the town might slow down for the month, May marks the beginning of listing season here in the high country.

The first quarter of 2024 saw a strong increase in appreciation for all residential property types across the county, with the number of active listings trending towards more balanced 2017 – 2019 levels. With the number of days on market already starting to decrease as we move into listing season, it’s clear that the demand to own real estate in our resort market remains robust.

If you are considering listing your property this year,…

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April Brings Bright New Opportunities

As winter transitions to spring, Breckenridge offers a magical blend of snowy slopes and sunny skies, making it the perfect time for spring skiing enthusiasts to escape to the mountains for the last ski trip of the season. Whether you’re looking for the perfect property to share your love for the slopes and mountain lifestyle with your family or are considering listing your property in time for the summer selling season, the Brokers at Breckenridge Associates are your guides to successfully accomplishing your real estate goals.

Breckenridge Associates Real Estate’s Top 5 Real Estate Opportunities for April 2024:

119 Reiling Road

Real Estate Opportunities in Summit County: 119 Reiling Road

Charming log sided residence with sweeping ski area views, in town with a bus…

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Spring Brings Fresh Opportunities Your Way

As Summit County eagerly awaits the arrival of longer days, warmer temperatures, and the exhilaration of spring skiing, the real estate market in is showing promising signs of activity. Breckenridge, in particular, continues to be a destination for families seeking to create cherished memories amidst the breathtaking backdrop of the Rocky Mountains. Whether you're looking for a mountain retreat, an investment property, or a permanent residence, the Brokers at Breckenridge Associates Real Estate are the local experts on local living and are excited to help you discover the perfect property for your family.

Breckenridge Associates Real Estate’s Top 5 Real Estate Opportunities for March 2024:

TBD Middle…

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Fall in Love with Your Dream Mountain Home

Love is in the crisp mountain air this February, and with it comes with the excitement of upcoming interest rate cuts. As winter sports enthusiasts flock to our charming town for world-class skiing and snowboarding, investors and homebuyers alike are taking a break from the slopes to check out available real estate in Breckenridge and Summit County. Whether you're seeking a cozy mountain retreat for family vacations or a smart investment in one of Colorado's most desirable markets, the Breckenridge market has properties that suit every lifestyle and budget.

Breckenridge Associates Real Estate’s Top 5 Real Estate Opportunities for February 2024:

106 Broken Lance Drive Unit #9

Real Estate Opportunities in Summit County, CO: 106 Broken Lance Drive Unit #9, Breckenridge

Newly Updated, fully…

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