If you’re thinking about buying or selling a home in Breckenridge, listen up. Basically, homes are selling faster than a scoop of peach sorbet melts on a hot day. Okay, maybe not that fast. But things have definitely picked up over the last few months. In fact, Summit County homes are selling 20 percent faster than they were this time last year. The average home sits on the market for only 130 days compared to 162 days in June 2015. That’s a full month difference!
Not only are homes flying off the market quicker than vintage barware at an estate sale, they’re selling for more, too. The average sale price of a house in Breckenridge has gone up four percent since last year and houses are selling at 96 percent of the list price. The cherry on top? There were 22 percent less houses on the market this June compared to last year.
What does this all mean?
If you’re a hopeful homeowner, our best advice is to put your game face on. Get pre-approved for a mortgage, and be prepared to make a quick buying decision. The Breckenridge real estate market is absolutely sizzling this summer. It’s like everyone finally realized that Summit County is the best place to live. Go figure! And, as if the gorgeous scenery, snowy ski slopes and cozy mountainside retreats weren’t enticing enough, buying your own slice of Breckenridge real estate could be a smart investment if home prices continue on their upward trajectory.
On the other side of the coin, existing Breckenridge homeowners are in an excellent position to sell. Competition is considerably lower than this time last year, and you’ll likely get very close to your asking price. We’re in what we call a “seller’s market.” Inventory for single-family homes is at 8.4 months, while townhouses and condos have just 4.5 months of inventory. In non-real estate lingo, this means you might see several buyers competing to buy your property, which could drive up the price even more.
We’re here to help
Whether you’re buying or selling, navigating the Breckenridge real estate market can be a complicated process. Luckily, you don’t have to do it alone. At Dwell Summit, our goal is to make your home buying or home selling experience a stress-free and successful one.
Not quite ready to sell? We also specialize in property management services and can help you find a highly qualified tenant to rent your home. Whatever you need, we’re here to help. When you’re ready, give us a call to learn more about what we can do for you!