The leaves are changing in the High Country! Read on for 5 Reasons to Buy this Fall.
1: Inventory is UP!
Low inventory has been driving prices in Breckenridge for several years, but inventory is up compared to the last few years as we enter Fall. More inventory translates to more competitive prices!
2: Earn rental revenue!
Being located in the shadow of one of the premier Ski areas in North America provides a very stable demand for rental properties in Breckenridge. When the market gets crazy, people bail on the volatility of the stock market in favor of Real Estate. Don't miss out on your chance to capitalize as well.
3: Longer Days on Market.
Demand is still very high, but we are starting to see a slow down on the prices buyers are willing to pay for properties in Breckenridge. We are seeing more price reductions, as sellers compete for buyers. The result is that properties are spending more time on the market than they have since late 2017.
Home values are still going up, but the rate at which they are appreciating is starting to slow down.
4: Interest Rates are Low!
Interest rates are low and should remain stable in the near term. Per Stewart Title, rates for a 30 year fixed mortgage are hovering around 3.8%
5: Housing inventory is just above the 6-month supply found in a normal housing market.
As the seasons change, land sales will slow down, and we'll see Single Family Homes, Condominiums and Townhomes close to the ski area start to hit the market when their value is more easily seen. Proximity to the ski area is a huge driver for winter listings, and the magic words "Ski In/Ski Out" start to have more of an impact to potential buyers.
Properties that have sat on the market all summer are in prime position to be acquired by a prudent buyer, so reach out today to set yourself up for an amazing winter in the mountains!