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What Do All These Charts Mean?
September 2008: It's a buyer's market in Breckenridge! Prices are still holding steady, but total
sales dollar volume is down 38%, and the
number of sales is down 46%, vs last year at this time (early September). But 2007 was a record year. Also, the figures on this page don't include 167
condos currently under contract, mostly pre-construction units in 4 new luxury complexes, with a sales dollar volume of
$230 million!
Figures 1-3 are for the
greater
Breckenridge area: From Hoosier Pass to the southern tip of Lake Dillon.
Roger & Teresa Moen
are pleased to prepare these Breckenridge real estate market statistics, just
for our clients! The figures show MLS-reported sales of all residential properties: single family homes, condos, townhomes, duplexes, and vacant land (no fractional ownership).
Figure 1
shows that
2008 sales dollar volume is about average
for 2002-2008. In terms of
dollar volume, 2008 sales so far represent Breckenridge's 4th best year ever. The
number
of transactions, however, is another story! Fewer units are selling, and they are high end.
Figure 2
plots the number of properties sold, during each half-month period. So far,
the number of 2008 sales is at the slowest pace
since 1992, reflecting the
"wait and see" attitude
of many buyers. We expect this to change once the national lending and foreclosure crises subside, because Breckenridge's fundamentals remain strong. Did you know:
Summit County's
foreclosure rate is only 1/50th of 1%!
Figure 3
shows the number of
properties on the market, on any given day. There are nearly twice as many properties on the market now, vs. last year on this date. As of 9/14/08, there's a
20-month supply of homes,
15 months of condos, and
28 months of land.
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