Things are looking good in Summit County! Not only do we have excellent snow totals, but bookings are up 12% (which makes a second improved year in a row for rentals), retail is up roughly 15%, and real estate over all is on a positive trend. I hope you and your family have the opportunity to escape to the high country to enjoy everything we have to offer!
Total Sales for Summit County: Summit County sales are up 16% for 2013 over 2012, and September was our strongest month with a 59% increase over September 2012. November 2013 was down 10%, and December 2013 down 15% over the same months 2012. Average prices for 2013 are down about 4% from the average prices of 2012. While this might not sound exciting to sellers, I can give you plenty of examples of specific complexes that are up 15% to 20% above their bottom recession price. Give me a call if you want to know what is going on in your neighborhood specifically —it is likely to be good news. For 2013, 40% of Summit County sales are in the Breckenridge area, and 40% of buyers are from the front range.
Single Family Sales: The number of Single family home sales are the same in 2013 over 2012. The average sales price has dropped about 3% in 2013 year to date. I would like to add my opinion that we have cleaned up some pretty rough inventory in 2013.
Condo and Multi Family Sales: Condo/ multi family sales are up 24% 2013 over 2012. The average sales price has increased about 3% in 2013 over 2012. Condo/multi family is the bulk of our market, so this is a great trend!
Foreclosures: In 2013 we only had 47 foreclosures compared to 87 foreclosures in 2012, 145 foreclosures in 2011, 104 foreclosures in 2010, and 47 foreclosures in 2009. We have almost reached pre-recession levels.
In other Summit News: The New Peak 6 Trail Map is here! Breckenridge has had a ridiculous amount of early snow…the ski resort is reporting over 150 inches for this season so far. Ullrfest is January 5-11, the International Snow Sculpture Championships are January 21 through February 2, and our Mardis Gras celebrations are from March 1- 4. There are so many great events at all of the local mountain communities that I can’t list them all!
To see my premium ad in Mountain Homes Illustrated on the inside front cover click here. To see my ad on the back cover of The Real Estate Book, click here. Inventory is down but there are still plenty of buyers so it is a good time to list your property. Give me a call for a free market analysis.