Breckenridge Condos Real Estate Market Report 2002 – 2012
Breckenridge condos are one of the most sought after of all types of properties in the Breckenridge Real Estate market. With the year end we can now compare 2012 to previous years to see how Breckenridge condos faired in the local real estate market. In the past 10 years there have been many ups and downs but had you purchased a condo in Breckenridge in 2002 and were looking to sell today, the average sales price has increased approximately 30%.
If you look at the above chart you will see there were two high points for Breckenridge condo sales. These were in 2008 and 2010 when the average sales price was $627 and $575 per square foot respectively. In 2008 the spike was due to the sales at the newly completed Crystal Peak Lodge and in 2010 the spike occurred with sales at One Ski Hill Place. At year end the average sold price per square foot was $401 for 2012 which included sales at some of these newer buildings. The average price per square foot for Breckenridge condo sales is down 36.04% compared to the height of the market in 2008.
Breckenridge condo sales are improving as the Breckenridge Real Estate market continues to improve. In 2012 there were 212 sales compared to the lowest number of sales in 2009 when there were 119 sales. At the height of the market for the number of sales occurring annually there 492 Breckenridge condo sales in 2005.
What does this mean if you are looking to purchase a condo in Breckenridge Colorado?
The long and the short of it is that prices are still down and the number of transactions is improving. Typically when we have this combination it means the Breckenridge Real Estate market is rebounding and prices aren’t going to stay low for too much longer.
For additional information about Breckenridge condos and the Breckenridge Real Estate market, contact Krystal Knott with LIV Sotheby’s International Realty. I am a full service, full time, knowledgeable Breckenridge Real Estate agent that will assist you in finding the ideal mountain property.