Breckenridge Local Updates, Real Estate News & Market Trends

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!

 

Breckenridge Oktoberfest 2019

Oct. 10, 2019

Breckenridge Craft Spirits Festival

Breckenridge Craft Spirits Festival

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:


Friday, October 18

  • 10 a.m. and 1 p.m: Breckenridge History Tour
    • Tour Breckenridge’s acclaimed Historic District
    • Meet at the Breckenridge Welcome Center, 203 South Main Street.
    • $15/adult, $5/child. Children 3 and under are free. No reservations required 

 

  • 11 a.m. until 3 p.m: Breckenridge Distillery Open House
    • $5 craft punch (or included with a Grand Tasting Ticket)
    • One free hand-crafted cocktail per retail bottle purchase. Show your receipt to enjoy your free cocktail.
    • Breckenridge Distillery: 1925 Airport Road in Breckenridge.
      • Take the Distillery's shuttle or the Yellow route of the Breckenridge Free Ride bus system.

 

  • 5 p.m: Behind Swinging Doors Historic Saloon Tour
    • Hosted by the Breckenridge Heritage Alliance, the tour focuses on the historic brewing, distilling and saloons of Breckenridge’s mining heritage.
    • Meet at the Breckenridge Welcome Center at 203 South Main Street.
    • $20/person. Must be 21 or older.
    • Reservations required by 3pm, Friday, October 18 www.breckheritage.com or 970-453-9767 x 2.

  • Breckenridge Distillery 3-Course Dinners (Friday, Saturday and Sunday)
    • Enjoy New American, small plates and craft cocktails at this hip local spot showcasing a rustic-chic interior.
      • Limited seating: reservations required. 970-547-9759
        • Three courses, $45
    • Show your Grand Tasting receipt for a free craft punch.
    • The Breckenridge Distillery, 1925 Airport Road in Breckenridge
      • Take the Distillery's shuttle or the Yellow route of the Breckenridge Free Ride bus system.

 

  • All Day: Scavenger Hunt & Craft Cocktails
    • Organize a team and embark on an adventurous scavenger hunt that takes you to saloons, restaurants and taverns in Breckenridge. 
    • Post pictures with the hashtag #ISpyStillontheHill2019.
    • Delight in sampling signature cocktails by some of the town’s most creative bartenders.
    • No sign-up or reservations are required.



Saturday, October 19

·       10 a.m. and 1 p.m: Breckenridge History Tour

o   Tour Breckenridge’s acclaimed Historic District

o   Meet at the Breckenridge Welcome Center, 203 South Main Street.

o   $15/adult, $5/child. Children 3 and under are free. No reservations required. 

·       11 a.m. until noon: Better Bitters Workshop

o   What the heck are bitters and how do I use them?

§  Learn the secrets of using bitters to enhance your cocktail creations.

§  A hands-on workshop teaches you the basics of making your own bitters—and you’ll take home your own bottle of Après Handcrafted Bitters.

o   Must be 21, or older.

o   Après Handcrafted Libations, 130 S. Main St. Purchase tickets here 

 

·       1 until 2 p.m.: The Art of Mixology

o   Join Steven Teaver of Four Seasons for an exploration of creative cocktails.

o   Must be 21, or older.

o   Après Handcrafted Libations, 130 S. Main St.  Purchase tickets here
 

·       4 until 7 p.m.: Still on the Hill Grand Tasting

o   Colorado’s premier craft spirits tasting features 40 of the top distillers sharing the finest in spirits.

o   Artisan snacks and select craft spirits

o   Bluegrass music by Tejon Street Corner Thieves

o   Vote for the People’s Choice Distiller.

o   $45/person in advance, $55/person at the door

o   Must be 21, or older.

o   The Riverwalk Center

§  Park at the Riverwalk Center/Tiger Dredge lot.

§  Free transportation available around town and through lodging companies. Don't drink and drive. Purchase tickets here.

·       5 p.m: Behind Swinging Doors Historic Saloon Tour

o   Hosted by the Breckenridge Heritage Alliance, the tour focuses on the historic brewing, distilling and saloon highlights of Breckenridge’s mining heritage.

o   Meet at the Breckenridge Welcome Center at 203 South Main Street

o   $20/person. Must be 21 or older.

o   Reservations required by 3pm, Friday, October 18 www.breckheritage.com or 970-453-9767 x 2

·       Breckenridge Distillery 3-Course Dinners (Friday, Saturday and Sunday)

o   Enjoy New American, small plates and craft cocktails this hip local spot showcasing a rustic-chic interior.

§  Limited seating: Reservations required. 970-547-9759

·      Three courses, $45

o   Show your Grand Tasting receipt for a free craft punch.

o   The Breckenridge Distillery, 1925 Airport Rd. in Breckenridge

§  Take the Distillery's shuttle or the Yellow route of the Breckenridge Free Ride bus system.

·       7:30 p.m: Haunted Tour

o   The Breckenridge Heritage Alliance takes you on a spooky tour to explore Breckenridge’s haunted haunts.

o   Reservations at www.breckheritage.com or 970-453-9767 x 2

·       All Day: Scavenger Hunt & Craft Cocktails

o   Organize a team and embark on an adventurous scavenger hunt that takes you to saloons, restaurants and taverns in Breckenridge. 

o   Post pictures with the hashtag #ISpyStillontheHill2019.

o   Delight in sampling signature cocktails by some of the town’s most creative bartenders.

o   No sign-up or reservations are required. 


Sunday, October 20

 

  • Bloody Sunday Hangover Brunch:
    • A little ‘hair of the dog’ or just more, ‘spirited’ fun and some great food?
      • Breakfast, brunch and lunch menus with craft-spirit cocktails will be available at participating bars and restaurants throughout town
        • Apres Handcrafted Libations, Aurum Breckenridge, BOLD, Breckenridge Distillery, The Canteen, Downstairs at Eric's, Fatty's, Gold Pan, Kenosha, La Francaise, Mi Casa, Ollie's Pub, Salt Creek Steakhouse, Sancho and Spencer's in Beaver Run

 

 

  • 11 a.m. until noon: Tiki Time Workshop: Tiki-style drinks and how to create them.  
    • Who doesn’t love Tiki cocktails? Transport yourself to the beach as you learn about the craft and culture of Tiki with RNDC Spirit Specialist, Ken Kodys.
    • Must be 21, or older.
    • Tiki Mana on the Blue River, under River Mountain Lodge



  • Breckenridge Distillery 3-Course Dinners (Friday, Saturday and Sunday)
    • Enjoy New American, small plates and craft cocktails this hip local spot showcasing a rustic-chic interior.
      • Limited seating: reservations required
        • Three courses, $45
    • Show your Grand Tasting receipt for a free craft punch.
    • The Breckenridge Distillery, 1925 Airport Rd. in Breckenridge.
      • Take the Distillery's shuttle or the Yellow route of the Breckenridge Free Ride bus system. Reservations required. 970-547-9759

  • All Day: Scavenger Hunt & Craft Cocktails
    • Organize a team and embark on an adventurous scavenger hunt that takes you to saloons, restaurants and taverns in Breckenridge. 
    • Post pictures with the hashtag #ISpyStillontheHill2019.
    • Delight in sampling signature cocktails by some of the town’s most creative bartenders.
    • No sign-up or reservations are required. 


**You Must be 21 or older to attend Breckenridge Craft Spirits Festival**

 

 

 

Oct. 7, 2019

Mortgage Rates Likely to Go Lower in 2020

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.

As mortgage rates drop, forecasters also expect home price growth to moderate. Fannie Mae, Freddie Mac, and the MBA all predict home price growth to slow to 2.2% appreciation by 2021. Home sales are expected to remain elevated. The National Association of REALTORS® is forecasting existing-home sales to rise 0.6% in 2019 and by another 3.4% in 2020.Next year, according to Fannie Mae, rates could drop as low as 3.4%. “Rates fell for most of this year, and lower rates have translated into a stronger housing market,” notes Freddie Mac economists. “Both home sales and housing construction are firming. We expect a significant increase in the number of mortgage refinances in the coming quarters.”

Oct. 4, 2019

Real Estate prices in Breckenridge mirror the trend in Denver

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.

Sept. 12, 2018

Fall in Breckenridge - Things to do

 

The season of golden aspens is arguably the most beautiful time of year to visit Breckenridge. The list of what to do in Breckenridge during the fall is long.Whether you're interested in our endless fall activities (hiking, mountain biking, fly fishing); taking part in a fall festival (OktoberfestWine ClassicSpirits Festival) or simply enjoying the incredible fall foliage; fall in Breckenridge is an amazing time to discover everything our mountain town has to offer.

Aug. 27, 2018

July Market Stats

  • Market Analysis by Area for July 2018: There were a total of 211 transactions and $151,066,431 in monetary volume. The average transaction price for all 18 reported areas, plus Deed Restricted transactions, was $750,087, average residential price was $818,589 and average residential PPSF was $475.
  • Year to Date Market Analysis ( 7 months): Monetary volume in YTD 2018 totaled $871,481,096 with 1288 transactions: $696,339 average transaction price, $726,883 average residential price and average residential PPSF $462.
  • Market Snapshot for Years 2018 vs 2017:  Average Indicators for $: Single Family +2%, Multi- Family +8% and Vacant Land +13%. Median Indicators for Single Family +7%, Multi- Family +8% and Vacant Land +8%.

  • Market Analysis % Change 2018: Monetary volume ($151,066,431) in July 2018 was up 2% from July 2017. Transactions (211) were down 17% from July 2017.  YTD 2018 monetary volume is up 7% from YTD 2017, and transactions are down/flat 1% YTD 2018 compared to YTD 2017.
  • Residential Cost Analysis:  Residential volume in July had 167 transactions with $136,704,300 gross volume. There were 36 properties that sold for $1M and above in July. The most active price points were between $300K-$500K with 51 transactions. There were 63 Single Family, 104 Multi-Family and 12 Vacant Land transactions.
  • Average Price History by Type 2018: Average price for residential Single Family: $1,291,659, Multi- Family: $532,017 and Vacant Land: $387,075.
  • Comparative Historical Cost Analysis YTD 2018: There were 1023 residential transactions and $743,601,484 gross $ volume with 179 properties selling for $1M and over-compared to 2017, there were 1082 transactions and $726,968,345 gross $ volume, 170 properties at $1M and over.  In 2016, there were 992 transactions with $558,162,218 gross $ volume, 99 properties at $1M and over.
  • Top Lender Analysis July 2018: There were 531 loans in July, 64% (135) of the loans were related to sales, there were 119 REFI's and 277 loans were timeshare related. 36% of the real estate closings were cash transactions.
  • Market Highlights: Please see page 11 of the Market Analysis- You can note the higher priced sale in July in the Shock Hill area at $4.7M. The top priced PSF in the Breckenridge at Liftside Condos at $956.
  • Foreclosures:  There were 2 Foreclosure action in July compared to 5 last July 2017. A total of 53 Foreclosure actions have been taken YTD 2018.
  • Purchaser Profile Abstract:  There were 38 upper end sales in July. Our buyers for real estate transactions for 2018: Front Range demographic at 45% of our market, 34% are "local" and 20% are out of state buyers with 0% International. Please note a new page 17 comparing demographics of our buyers through 2013.
  • Land Title New Development Summary: This (page 18) shows all the new construction each month, there were 20 in July.
May 31, 2018

Summit County Market Analysis - April 2018

Here is our market analysis for Summit County, Colorado. For the full report contact me. I can offer in depth insight into all aspects of the real estate market in Breckenridge and Summit County.

 

    • Market Analysis by Area for April 2018: There were a total of 207 transactions and $148,159,921 in monetary volume. The average transaction price for all 18 reported areas, plus Deed Restricted transactions, was $664,714, average residential price was $706,131 and average residential PPSF was $471.
    • Year to Date Market Analysis ( 4 months): Monetary volume in YTD 2018 totaled $411,688,149 with 632 transactions: $664,714 average transaction price, $710,047 average residential price and average residential PPSF $461.
    • Market Snapshot for Years 2018 vs 2017:  Average Indicators for $: Single Family +1%, Multi- Family +11% and Vacant Land +15%. Median Indicators for Single Family +8%, Multi- Family +10% and Vacant Land +13%.
    • Market Analysis % Change 2018: Monetary volume ($148,159,921) in April 2018 was up 30% from April 2017. Transactions (207) were up 10% from April 2017.  YTD 2018 monetary volume is up 3% from YTD 2017, and transactions are up 2%.  YTD 2018 compared to YTD 2017.

  • Residential Cost Analysis:  Residential volume in April had 162 transactions with $114,393,221 gross volume. There were 26 properties that sold for $1M and above in April. The most active price points were between $400K-$500K with 31 transactions. There were 49 Single Family, 113 Multi-Family and 18 Vacant Land transactions.
  • Average Price History by Type 2018: Average price for residential Single Family: $1,097,001, Multi- Family: $524,262 and Vacant Land: $371,553.
  • Comparative Historical Cost Analysis YTD 2018: There were 484 residential transactions and $343,662,784 gross $ volume with 80 properties selling for $1M and over-compared to 2017, there were 512 transactions and $352,089,998 gross $ volume, 95 properties at $1M and over.  In 2016, there were 459 transactions with $268,033,677 gross $ volume, 46 properties at $1M and over.
  • Top Lender Analysis April 2018: There were 486 loans in April, 64% (133) of the loans were related to sales, there were 103 REFI's and 250 loans were timeshare related. 36% of the real estate closings were cash transactions.
  • Market Highlights: Please see page 11 of the Market Analysis- You can note the higher priced sale in April in Breckenridge Southside Estates. The highest priced transaction  PPSF at $902 in Der Steiermark Condo in Breckenridge. 
  • Foreclosures:  There were 12 Foreclosure actions in April 2018, 10 were Timeshares and 2 were Fee Simple.
  • Purchaser Profile Abstract:  There were 32 upper end sales in April. Our buyers for real estate transactions for 2018: Front Range demographic at 42% of our market, 29% are "local" and 29% are out of state buyers with 1% International. Please note a new page 17 comparing demographics of our buyers through 2013.
May 26, 2018

Breckenridge Calendar of Events

Breckenridge Calendar of Events

View your Breckenridge Calendar of events here. Spring is in full swing and summer is just around the corner here in Breckenridge. As I am sure you know, Breckenridge offers an amazing calendar of events for not just the summer but the whole year around. Free summer events that range from the upcoming WAVE: Light + Water + Sound festival to the 4th of July Parade and much more.

Other notable summer events

Breckenridge Food and Wine - July 28, 2018
Breckenridge International Festival of Arts - August 10-19, 2018
Breck Epic - August 5-10, 2018 (Tentative Dates)
Spartan Race - August 18-19, 2018
Breckenridge Hogfest Bacon & Bourbon - August 25, 2018

Fall Events - here

I hope to see you in town and please do stop into our office to sat hello - 229 S Main St, Breckenridge

If you would like to send me a message for more information on Breckenridge Summer Activities please feel free to send me a note

May 20, 2018

Buying a home or condo in Breckenridge

Are you thinking about buying a home in Breckenridge? If so, let me offer some great advice as a Breckenridge local and real estate broker. Whilst not an exhaustive list, here are the key topics to consider when considering the purchase of Breckenridge property.

Select a great Breckenridge broker

Firstly, and needless to say the most important in my view, the selection of a broker. Not only has the experience to offer sound and informed advice. But also a realtor who suits your buying style and understands fully your needs and wants. With this in mind, I always recommend that buyers interview their broker and get to know them well.

Have a buying game plan.

Whilst impulse buys are exciting and make us feel good sometimes, the purchase of a mountain home that is often a fair distance from your primary residence, or is your primary residence, deserves in depth research. As I always remind buyers, the best purchases are informed ones that where possible benefit from patience. Write a list of needs and wants and make sure your Breckenridge realtor is fully aware of them and their priorities. The more information you share with your broker the better the outcome.

 

Take a long hard look at properties.

Set up as many showings as you can and don't be afraid to look at homes that may well be a little outside your budget or what you think is the right fit. It is interesting the amount of times that an 'outlier' property may well be closer to what you were looking for than you thought. If nothing else, viewing a wide spectrum of homes does offer context to your ideal home. If visiting from out of state or from out of town, do not hesitate to set up a second showing. Remember, the second viewing is the one that invariably confirms your initial thoughts. Search listings here.

Understand all the complexities of buying in Breckenridge.

Have an experienced real estate broker represent you throughout the buying process means that you have a professional who can help you navigate everything during the buying process, including;

  • Loan application
  • Property inspection
  • Mold issues
  • Well water
  • Septic systems
  • HOA's
  • 1031 exchanges
  • Rental income forecasts
  • Deed restriction

If you think that now is the time to buy your primary mountain home or your second home retreat, call me on +1 970 389 1654 or Contact me

 

 

May 17, 2018

A good time to list your Breckenridge home

With the snow melting quickly and the aspen trees beginning to bloom, now is a good time to list your Breckenridge home. Why now and not another time you may ask? Obviously if you still love spending time in the mountains selling your Breckenridge home is not an attractive proposition. However, if you are looking to relocate, down size or up size, early summer is perfect timing.

Most buyers who are looking to buy a single family home are wanting to make sure they can see all the property and this includes the yard of their Breckenridge home. Once the snow melts, it is much easier to see how well the home has been maintained and if there has been any ice or snow damage. Being able to safely get onto the roof is a great benefit as well.

Although the winter months is still the busiest time for our mountain town, in terms of buyers, the summer months are still when the majority of people are in town looking at property. Positioning your home to sell in this peak season is a great way to maximize the re-sale potential for your home.

Currently our inventory of homes in Breckenridge is very low and this is an added bonus for sellers. So long as the overall Real estate trend for Colorado continues, my view is that inventory will maintain it's low cycle and this will add to the upward pricing pressure. Again, this is only a benefit to you as the seller if you are in a position to sell and looking for the next investment chapter in your lives. Certainly, I can write another article on the reasons to hold your Breckenridge real estate investment!

With the winter ski season being the most popular time of the year, selling you home in the summer does allow for easier access by buyer brokers to show your home. Also, many buyers are looking to acquire their Breckenridge home prior to the ski season to allow them to use the home throughout the winter or to maximize the rental potential for the home.

Sell your Breckenridge Home

Contact me to list your Breckenridge Home

For your free market analysis please call me on 970-389-1654 or contact me

April 23, 2018

Breckenridge Real Estate Statistics - March 2018

As we progress into spring, the discussion moves onto how many listings we will see in the summer selling season, and how the statistics for the Breckenridge real estate market will influence decision making. Certainly the trend for low inventory continues to hold, as does the level of appreciation that we have been experiencing. Coming out of a low snow season for the state of Colorado, with Breckenridge doing well and averaging 100% of snowpack for this time of year, the argument for Breck holding firm to its popularity and in term market position is strong.

View - Breckenridge March Stats