Source - Altitude MLS
It is interesting to see how sales in the luxury end of the Breckenridge real estate market have performed over the past 2 years. Sales for single family homes in Breckenridge, that were listed over $4m, doubled in 2024 compared to 2023. By contrast, sales of homes in the $1m to $4m range remained pretty static, with number of sales and sales price showing minor adjustments in 2024 vs 2023.
My sense is that with the ongoing strength of equities over the past 2 years, buyers in the $4m+ range have been pulling funds out of the stock market and diversifying into real estate. Buyers in the $1m to $4m range are more sensitive to interest rates and also the ability to short term rent their second homes. With both of these factors offering some resistance in the market, growth in the 'mid-level' sector has been muted.