Some interesting facts regarding supply, sales and demand regarding the higher end single family home market in Breckenridge.
The supply of single family homes for sale and the total number of sales in the year 2018 for the different price ranges are as follows:
List Price Active Listings today Total Sales 2018
$1-$2 Million 29 94
$2-$3 Million 15 34
$3-$4 Million 10 10
$4 Million + 23 5
The transition of Breckenridge single family home price categories is changing. The supply of vacant land to build new homes is diminishing, the lots that are left or available tend to be the "bottom of the barrel," with not so desirable a location.
Many of the homes that have been selling have been in super locations but may be rather dated. The Buyers see the value of the location and are putting money into renovating their purchase. The cost to build a new home has risen considerably, with a lot of the material cost sky rocketing due to the demand in states that have had large natural disasters.
Skilled trades are in short supply in Breckenridge due to a number leaving to go to work in some of the above mentioned states and the work load currently being experienced in Breckenridge.
The cost to build a new home has risen to approximately $400-$450 per square foot, not including land cost.This has put and upward pressure on existing house sales.
However, it is interesting to note that our new luxury home bracket which is now defined as $4 million or more has a glut of availability and this market is a Buyer's market!
If you would like to discuss this further please call:
Andrew Biggin
Broker Partner
Chairman, Summit Association of Realtors 2014
V.P. Colorado Association of Realtors, 2005
Realtor of the Year, 2014, 2002 & 1999
229 S. Main Street, Box 768
Breckenridge, CO 80424
Ph: 970-453-2200
Mobile: 970-389-8663
Andrew@BreckenridgeAssociates.com
www.BreckenridgeHomes.Net
Posted by Andrew Biggin on
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