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What Do All These Charts Mean?
We have a hot seller's market for
condos, and the market for
land is brisk, too. The local Breckenridge real estate market is very strong! But, the red hot pace may be starting to cool just a bit. Although prices are higher, overall sales dollar volume is the same as last year at this time (a record year), and the number of sales is down 19% versus last year at this
time (end of June, 2007).
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.
Figure 1 shows that
2007 sales volume is almost identical to 2006 -- our best year ever!
(It's hard to see the '07 line, because it's directly on top of the '06 line). The average selling price in Breckenridge is up 14%, compared to last year. (Land prices are up 25%!)
Figure 2 plots the number of properties sold, during each half-month period. So far, the number of '07 sales for most months is below '05-'06, but above '02-'04 -- roughly average, for the past 5 years.
Figure 3 shows the number of
properties on the market, on any given day. There are 19% fewer properties on the market now, vs. last year on this date. In particular, the supply of land has really dropped as Breckenridge gets built out. As of 6/27/07, there is a
7.9-month supply of homes, a 3.0-month supply of condos, and a
5.5-month supply of land. Last year on the same date, the numbers were 8.3 months of homes, 2.9 months of condos, and 5.9 months of land. A little less supply, still strong demand:
Prices are going up!
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