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Breckenridge Market Leads the Way in Colorado Mountain Luxury Real Estate

Posted by JanL on May 13, 2015

Overlooking Breckenridge Real Estate

The Summit County residential real estate economy took a slight hit last month in sales, dipping numbers down to a figure reminiscent of 2014. But the market is far from struggling. According to a recent article in Summit Daily, local residential property sales of at least $1 million accounted for roughly $21.5 million, making up less than half of the $70 million total grossed in April alone

April’s sales, however, still fell about $13 million short of March’s $83 million total. As a supposed “low” month, April serves as a reminder that the Summit County real estate market is in excellent health.

As it turns out, Breckenridge continues to be the leader of the market. Of the five biggest real estate sales in the county, all but one took place in Breckenridge, and the one’s that did sold for over $2 million in the town’s most upscale slope-side neighborhoods.A beautiful luxury home in Breckenridge.

April’s sales, however, still fell about $13 million short of March’s $83 million total. As a supposed “low” month, April serves as a reminder that the Summit County real estate market is in excellent health.

As it turns out, Breckenridge continues to be the leader of the market. Of the five biggest real estate sales in the county, all but one took place in Breckenridge, and the one’s that did sold for over $2 million in the town’s most upscale slope-side neighborhoods.

Both counties have boded well within recent years. Real estate experts believe this is due to the market slowly recovering since 2007, when local mountain realty witnessed an increase of short-term homeowners – especially among Front Range investors due to the recession.

This means big things to come for the Summit and Eagle housing economies; property values are on the upswing, homes are spending less time sitting on the market and there is an influx of long-term homeowners buying up property. Furthermore, studies show that the Colorado resort markets tend to follow suite of the metropolitan areas. This is good news for Summit County, as roughly 40% of local property owners hail from the Front Range – compared to the less than 20% that account for Eagle County residents.

As mud season gives way to summer, the Colorado mountain luxury real estate economies will see continued progression. This is especially true for Summit County, and Breckenridge is likely to bolster the most dramatic escalations. An increase in new developments, a continuously stabilizing market and steadily rising property values make 2015 a prime time to invest in Breckenridge real estate. 

Breckenridge Real Estate Agent Jan Leopold
By
Slifer, Smith & Frampton
Real Estate Agent
Breckenridge, Colorado