You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!
Current U.S. Mortgage rates are favorable and top economists predict that rates for the end of 2019 will average between 3.8 percent and 4 percent for 30-year fixed rates. According to Freddie Mac, only one year ago in 2018, a 30-year fixed rate mortgage was 4.81 percent, thus showing a sharp decline in today’s rates. It’s interesting to note that in a year-over-year comparison for the week ending November 21, 2019, 30-year rates stood at 3.66 percent. In addition, mortgages have shown a steady decline throughout 2019, with the historic low for 30-year rates at 3.31 percent in November 2012.View More
As the official ski season kicks off, Breckenridge becomes the choice destination for many snow lovers visiting Summit County. And it’s not unusual to see—after visitors fall in love with our wonderful town and vibrant community, our world-class ski area and myriad other winter activities—that they may spend a day or two exploring real estate opportunities. Sometimes the itch is for a ski condo, sometimes a welcoming home where family and friends can gather all year to enjoy our mountain paradise. And often these ‘maybe I really do want a place in Breck’ clients—no matter how often they’ve considered buying—hesitate. There are lots of reasons why, but often we hear, “Maybe prices will go down,” or “Maybe sellers will be more willing to negotiate next year,” along with other market-related musings. Our goal is to help clients make the right decision at the right time. Believe us, we keep careful track of trends, and thought you might be interested in seeing just a very small piece of the statistics regarding sales in Breckenridge.
Breckenridge Associates Real Estate Is The Market Leader*
It’s been a very busy and exciting summer and fall for everyone at Breckenridge Associates Real Estate. We’ve been working tirelessly as we engage with our clients, helping them achieve their real estate goals in Breckenridge and throughout greater Summit County. With the spectacular variety of activities, adventures and conveniences available in our local community—things that make living here so rewarding —we’re proud our clients want to call Breckenridge home, too.
Welcome back, Winter!
There has been skiing in Summit County since mid-October—boding well for a great 2019-2020 season! Each fall our local resorts engage in a friendly competition for “Opening Day Bragging Rights”. This year, Arapahoe (A-Basin) Basin and Keystone, reveling in an early-season snowstorm with ideal cold temperatures, were the places to watch as early-opening rumors flew with the snow. Only 90 days after closing the longest ski season in Colorado (on the Fourth of July!), A-Basin began snowmaking operations. Around here most people expect A-Basin or Loveland to earn the title of “First ski resort to open in North America,” because for seven of the past eight years A-Basin has opened first in the Front Range, tying once with Loveland back in 2015. This year, the snow-tides officially turned. Keystone was neck-and-neck with A-Basin while Loveland fell out of the running entirely. This was a huge shift, as Keystone has not attempted an October opening in many years.
Opening Day is November 8, so Wake Up Breckenridge!
Opening Day Free Coffee & Mug
“Wake Up Breckenridge” is a much-anticipated tradition and the official community kick-off to Breckenridge Ski Resort’s Opening Day, inviting everyone to enjoy free coffee! Head to one of several local Breckenridge coffee shops at 7a.m. on Opening Day, November 8, enjoy free coffee and snag a commemorative mug! Breckenridge Ski Resort asks that everyone participating bring canned food donations to their chosen coffee shop in a sweet and worthy exchange for your coffee mug. The canned food collected that morning will be donated to our local Family Intercultural Resource Center (FIRC) food bank. There are plenty of places to get your java on, including Starbucks, Clint’s Bakery & Coffee House, Cool River Coffee House, Daylight Donuts, The Coffee Depot at Main Street Station, Cuppa Joe’s, Kava Café, The Crown and Cabin Coffee of Breckenridge. Mugs are available while supplies last, so bring your donation of canned food and get your free coffee before you hit the mountain!
Breckenridge Craft Spirits Festival - October 18-20
Be part of the excitement of the craft spirits movement during a fun-filled fall weekend in Breckenridge. The annual Breckenridge Craft Spirits Festival features small-batch distillers, artisan spirit seminars and more—with plenty of sampling! YOU MUST BE 21 OR OLDER TO ATTEND THE CRAFT SPIRITS FESTIVAL. Check out the schedule of events:
The current trend in interest rates is benefiting buyers and sellers alike. This article maps out the National Assoc of Realtors forecast for the rest of 2019 and also 2020
October 7, 2019 - National Association of REALTORS® - Magazine
In the last month, mortgage rates have fallen to their lowest monthly averages in more than three years, and economists predict they’ll stay there well into 2020—and even possibly lower. Last week, the 30-year fixed-rate mortgage averaged 3.65%, down 1.06 percentage points from a year ago, Freddie Mac reports.
The lower rates are translating into savings for home buyers. For example, the average borrower taking out a $300,000 mortgage is unlocking savings of about $225 on their monthly payments, or about $2,700 per year, CNBC reports. Freddie Mac economists predict that 30-year rates will average 3.7% in the fourth quarter of 2019, Fannie Mae predicts rates to average 3.9%, and the Mortgage Bankers Association is forecasting a 3.8% average.
Whilst the summer selling season has been very active and pricing has shown growth, single family +14% and multi family +8%, it is interesting to note that total volume of sales for 2019 versus 2018 (YTD) is only up 1%. August transactions were down 261 from 2018 representing a decline of 18%.
This slowing of the pace in sales is upheld in September as well and this trend is mirrored by our most significant market, that of the Denver Metro area. Whilst the last 18 months in particular have been characterized by a strong sellers market. We are now seeing a move back to the buyer, however, this is simply a shift at this time and not a swing to a buyer's market.
In a nutshell.......
Inventory is still historically low, average prices are increasing, total sales volume is neutral and total number of sales are softening. What does this all mean. The core and highly desirable sectors such as new construction, downtown locations, ski in / ski out properties are still seeing appreciation, other locations are matching the pricing from the summer of 2018.