26th Jan, 2012

Pulse on Breckenridge Real Estate Market 2011

For information about Breckenridge Colorado real estate and other Summit County properties for sale including Keystone CO real estate and homes in Frisco, Dillon, Silverthorne, or Copper Mountain, call Barrie Stimson at 970-390-2560.   

From the desk of Barrie Stimson

PULSE ON THE MARKET

* I believe the most relevant statistic today is the number of transactions that take place.  These are actual sales.  I believe prices follow, or lag.  Even though transactions started to decline in 2006 prices didn’t peak until 2007.  So, now you can get a sense of why I think we may be at least leveling out.

I am not fooling myself.  I do believe that this is going to be a very slow recovery.  In past recessions lowering interest rates was helpful in stimulating the market.  Unfortunately, interest rates are about as low as they are going to get.

Number of Transactions Year-to-Year in Breckenridge (excluding vacant land)

2002 – 628
2003 – 762 (+21%)
2004 – 863 (+13%)
2005 – 983 (+14%)
2006 – 941 (-4%) ← transactions started to decline here
2007 – 793 (-16%) ← prices peaked here
2008 – 482 (-39%)
2009 – 364 (-24%)
2010 – 410 (+12%)
2011 – 495 (+20%)

Breckenridge Real EstateAs a general statement the price you pay today is about what you would have paid in 2005.

** NEW CONSTRUCTION BUILDING PERMITS ARE UP!

We all hear various updates on the construction market across the country, but our clients are always asking us, “What’s happening in Summit County?” Over the past year permits have increased, and our local market for new custom homes is certainly looking stronger! In 2011, custom home construction permits increased by 50% over 2010, signaling that the market is definitely getting better, and we are currently working with more prospective clients right now than in the past three years.

Here’s the year-to-date info for 2011:

  • Breckenridge increased to 18 custom home permits in 2011 from 10 in 2010 (80%)
  • Summit Co increased to 45 custom home permits in 2011 from 30 in 2010 (50%)

*** Foreclosures

2011     2010     2009     2008
145       104       47         33

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