Breckenridge Single Family Home Market Update Year End 2011
Breckenridge Real Estate
The Breckenridge Real Estate market picked up momentum over previous years including the Breckenridge Single Family Home Market in 2011. At the end of 2011 the total number of Breckenridge single family homes sales increased 32% over 2010 with 201 sales. This is more sales than occurred in 2009 or 2008.
While we are seeing an upward trend in the number of transactions, the average sold price has dropped. In the Breckenridge Real Estate market the average sold price for single family homes is down 13.5% compared to 2010 and is down 23% from the highest average sold price of $1,063,756 in 2009.
Just like the average sold price, the average sold price per square foot is also down for single family home sales in Breckenridge Real Estate. At the end of 2011, the average sold price per square foot for Breckenridge homes came in at $275, down 4.7% from 2010. From the highest price per square foot in 2008 of $355, 2011 ended 29% below the height of the Breckenridge Real Estate market.
While the price for a home in Breckenridge varies based on location, age, finishes and other factors, one thing is for certain: prices are down and sales are up. Does this mean the Breckenridge Real Estate market has hit bottom? We’ll let you decided for yourself, but our clients who have recently purchased properties in Summit County think it is there or very close.
Contact Krystal Knott with LIV Sotheby’s International Realty to discuss the Breckenridge Real Estate market. You can also visit my website and sign up for property listing alerts, save properties of interest and get to know the Summit County Real Estate market.