Market Update - Has Our Real Estate Market Turned The Corner?
After the economic sluggishness of 2010, it is easy to paint a picture of the local Breckenridge real estate market in a decline. One can certainly find numbers that indicate receding prices and dropping numbers of sales in segments of the local market. However, this tells only part of the story and ignores some other signs pointing toward recovery. As we have wrapped up 2010 and are springing forward well into 2011, there are some clear trends that indicate a gathering strength in our marketplace. In a nutshell, 2010 revealed a dramatic increase in total sales volume, a surge in sales of condos and townhomes, a drop of existing inventory of properties for sale, a jump in sales of vacant land and a clear 4th quarter spike in properties going into contract. Let’s take a closer look. 57% Increase In Total Sales Volume 2010 saw an increase in total sales volume in almost every property category in Breckenridge. Single Family Homes increased $52.8 million from $95.33 million to $148.1...