The Most Recent Market Statistics are out, and our take on them are as follows:

 

  1. The Market is “Normalizing”.. 
  2. YTD the number of Sales for 2022 are Down 42.31 % for Breckenridge and Down 32.64% for All Summit County vs. the unsustainable levels recorded during 2021 and the COVID 19 Pandemic. 
  3. Keystone YTD # of Sales for 2022 are only down 19.92%, perhaps due to the Exempt Status of that area to Short Term Rental Restrictions. 
  4. This shift has led to a “Normalizing” of the market, with number of Active Listings in Summit County now at 488, vs. 231 in 2021, 334 in 2020, and 865 in 2019. 
  5. The Average Price of a Single Family Home remains strong at $2,366,578 for Breckenridge, and $2,125,233 for All Summit County.
  6. The Average Price of a Condominium remains strong at $928,554 for Breckenridge, and $799,399 for All Summit County. 
  7. Breckenridge Associates Real Estate (BARE) remains the #1 Breckenridge Office with 84 Sales YTD and $167.5M in $ Volume.
  8. On a per Agent Basis, BARE more than doubles the production of most of our competing brokerages with BARE Agents at over $8M / Agent YTD. Paffrath & Thomas is second at around $6M / Agent YTD.  Sotheby’s and Slifer are both in the $3M / Agent Range YTD.  (Breckenridge Only)
  9. The Summit County real estate market continues to be one of the best places to invest, with YTD appreciation Up on average 14.29% YTD for All Summit County.  Compare that to the NASDAQ Down 32% YTD and the S&P 500 Down 24% YTD. 
  10. With a fixed supply of developable land combined with the national and international appeal of Summit County, we anticipate Summit County will continue to be one of best places to buy and hold real estate for the long term.