Breckenridge Real Estate

Third Quarter Review

With the close of 2017 right around the corner, the trend of increasing prices over 2016 continues. Comparing 2016’s third quarter with the 2017 third quarter, Summit County marks positive increases across many areas. The Average Residential Sales Price continues to climb over the previous year with an 18.45% increase, raising the average sales price from $563,866 to an incredible $667,911. We also saw a 17.11% increase in the Overall Transaction Median Price.

While we saw a small dip in the number of closed transactions this year (773 this year compared to 794 in 2016), the momentum of the overall market is reflected in the Gross Sales Volume with an increase of 19.91% over 2016. This is due to the previously mentioned

In Summit County, there are two very distinct seasons for real estate - the summer season and the ski season (typically November through April). This month we are taking a peak into the market conditions of our recently completed ski season compared to years past.

Residential Sold Property Comparison

The number of residential properties sold throughout the ski season (November-April) remained relatively flat in Breckenridge with 254 sales in the 2015-2016 season and 250 in the 2016-2017 season. Mirroring the micro-market of Breckenridge, the overall Summit County market saw a slight increase of 19 additional sales year over year.

Sales Price Comparison

While the number of sales stayed roughly the same, the median sales prices increased

Summit County Stats

There were 325 residential properties sold in the first quarter of 2017 compared to only 296 in the first quarter of 2016. The average sales price for all property sales this year is $740,253 compared to $616,708 last year which represents an increase of 20%. 

The total dollar volume for sales in the first quarter this year was $240.5M compared to $182.5M in 2016 for an increase of almost 32%. 

Another sign the Summit County real estate market remains strong compared to other investment vehicles is the number of cash buyers we've seen so far this year. Last year there were 84 cash purchases in the first quarter of the year while that number grew to 101 cash purchases in the same time this year. Residential real estate

Breckenridge Associates Real Estate has recently released The Source Magazine.  It is your go-to real estate information guide for Summit and Park Counties!  Take a look at some of the current listings on the market.  I would be more than happy to help you make your dreams of owning a mountain home a reality.  Please feel free to contact me for the most update information.

*Click on the magazine image above to see the electronic version

Great news as the first several months of 2015, the Summit County real estate sale numbers are continuing to show signs of growth.  At the end of April, Summit County has seen an increase in the number of residential properties sold by 15 percent compared to the same time in 2014.  And further proof that the Summit County real estate market is strengthening is indicated in the 2015 average sales price of single family homes and condos in the area improving over the past year.  The competition is far less than five years ago with the dwindling number of active properties.  With only 938 active listings at the beginning of May, compared to 1,223 for the same time period in 2014, now is a great time to sell as the Buyers’ return to the marketplace in the