16th Jun, 2012

Sales of Luxury Single Family Homes in Breckenridge Improving

So far in 2012, sales in the luxury market of single-family homes in Breckenridge Colorado and other areas of Summit County real estate improved approximately 15 percent year-over-year.  Homebuyers must be partially motivated by the record-low interest rates, but they are also noticing how resort and luxury home prices are no longer on the decline.

This is the time for buyers to pick up Breckenridge dream homes or elegant mountain homes in Blue River while the prices are right.  Available inventory is decreasing.  Inventory for single-family homes in Summit County is at the lowest level since 2007.  The president of Leading Real Estate Companies of the World noted that the combined elements are “creating a sense of urgency” for buyers.

Sales of condominiums in Breckenridge, Frisco, Keystone, Copper Mountain, and Dillon have been slower.  According to a Press Release by PRWEB, the improved sales of single-family homes—especially high-end luxury homes in the resort markets—is the best news in the current market.  Nonetheless, the average sale price for previously owned condominiums in Summit County Colorado is also in positive territory this year, up 3.2 percent from last year.

Prices are stabilizing, partially because foreclosure filings are down 20 percent. The PRWEB release reports that Breckenridge has the second-lowest foreclosure rate in the Colorado resort markets.  Only Aspen is lower.  For added perspective, only 63 foreclosures completed the process during the peak of the Summit County housing crisis in 2010.  And there are over 25,000 residences in the County.

Overall, compared to 2011 the average Summit County real estate sales are on track.  The average sale prices are up nearly 4 percent in comparison. The ratio of sale prices to list prices is up one percent in 2012 to 92.9 percent.

For information about buying Colorado real estate in the scenic mountain villages of Summit County, call Barrie Stimson, Breckenridge Realtor® at (970) 390-2560.

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