March 2011 Breckenridge Associates Real Estate Newsletter
8
229 South Main Street Breckenridge, Colorado | (970) 453-2200 | (800) 774-7970 | www.BreckenridgeAssociates.com Has Our Real Estate Market Turned The Corner? After the economic sluggishness of 200, it is easy to paint a picture of the local Breckenridge real estate market in a decline. One can certainly find numbers that indicate receding prices and dropping numbers of sales in segments of the local market. However, this tells only part of the story and ignores some other signs pointing toward recovery. As we have wrapped up 200 and are springing forward well into 20, there are some clear trends that indicate a gathering strength in our marketplace. In a nutshell, 200 revealed a dramatic increase in total sales volume, a surge in sales of condos and townhomes, a drop of existing inventory of properties for sale, a jump in sales of vacant land and a clear 4th quarter spike in properties going into contract. Let’s take a closer look. 57% Increase In Total Sales Volume 200 saw an increase in total sales volume in almost every property category in Breckenridge. Single Family Homes increased $52.8 million from $95.33 million to $48.4 million. Sales volume for Vacant Land increased by $6.7 million. Duplexes decreased total volume by $5.4 million. However, Condominiums more than doubled from $50.9 million to $09.83 million in dollar volume, bringing the total Breckenridge increase from $94.63 million to $305.07 million, a 57% increase for the year. Condominium Sales Jump Breckenridge Condominiums and Townhomes were clearly the big winner in 200. Sales of actual units posted a healthy jump to 225 units in 200, compared to 52 in 2009 — a 48% increase. The average sale price also increased 33.5%, from $435,37 in 2009 to $58,089 in 200. While this increase certainly reflects the closing of units in Vail Resorts’ new One Ski Hill Place (at much higher unit prices), sales of all other units has picked up briskly, and as of as of March 5, 20 there were 4 Condo and Townhome sales and 9 under contract. Existing Inventory Shrinks One clear and necessary step in real estate market recovery is absorption of existing inventory. As properties take longer to sell there become a growing number of properties on the market, thus contributing to downward pressure on real estate prices. The good news is that we have witnessed a drop in existing inventory for sale in 200 for just about every Breckenridge property category: Single Family Homes inventory was down by 4.6%, Duplex inventory was down by 7.6%. Condominium inventory decreased by 9.% and Townhome inventory increased by 7.4%. Specifically, in The Highlands area, which generally counts for about half of the home sales over $ million, the inventory of existing homes for sale has dwindled from 59 at the end of 2009, to 27 currently. 200 sales in The Highlands area held their own quite respectably with 3 sales, compared to 32 sales in 2009 — bucking the decline in the Breckenridge Single Family Homes category. A shrinking inventory is important for all of us, as it is a clear signal that our market is regaining its vitality and shrugging off its doldrums. Vacant Land Sales Up 45% It wasn’t long ago that you could count the number of building permit applications at the building department on the fingers of one hand. While it does not herald a building boom, 200 Breckenridge area land sales spiked from 40 in 2009 to 58 in 200, a 45% increase. People looking to invest millions in new construction is a significant influencer in the long term faith in our area’s market. Clearly, construction has always been a principal economic driver for all segments of the Breckenridge community and local economy. What’s Happening Now? – Pending Sales One of the difficulties with the real estate appraisers’ view, and sales data in general is that they only look at what has already happened — looking in the The Source Newsletter March | 20 World Class Service. Home Town Team. Snow Sculpting Photo Credits: Ron Shelton (continued on p.2)
-
Upload
breckenridge-associates-real-estate -
Category
Documents
-
view
215 -
download
0
description
Breckenridge Associates Real Estate Newsletter. A quarterly real estate market update in Breckenridge, Colorado and Summit County, Colorado also featuring a sampling of our real estate listings.
Transcript of March 2011 Breckenridge Associates Real Estate Newsletter
229 South Main Street Breckenridge, Colorado | (970) 453-2200 | (800) 774-7970 | www.BreckenridgeAssociates.com
Has Our Real Estate Market Turned The Corner?After the economic sluggishness of 20�0, it is easy to paint a picture of the local Breckenridge real estate market in a decline. One can certainly find numbers that indicate receding prices and dropping numbers of sales in segments of the local market. However, this tells only part of the story and ignores some other signs pointing toward recovery.
As we have wrapped up 20�0 and are springing forward well into 20��, there are some clear trends that indicate a gathering strength in our marketplace. In a nutshell, 20�0 revealed a dramatic increase in total sales volume, a surge in sales of condos and townhomes, a drop of existing inventory of properties for sale, a jump in sales of vacant land and a clear 4th quarter spike in properties going into contract. Let’s take a closer look.
57% Increase In Total Sales Volume 20�0 saw an increase in total sales volume in almost every property category in Breckenridge. Single Family Homes increased $52.8 million from $95.33 million to $�48.�4 million. Sales volume for Vacant Land increased by $6.7� million. Duplexes decreased total volume by $5.4 million. However, Condominiums more than doubled from $50.9 million to $�09.83 million in dollar volume, bringing the total Breckenridge increase from $�94.63 million to $305.07 million, a 57% increase for the year.
Condominium Sales Jump Breckenridge Condominiums and Townhomes were clearly the big winner in 20�0. Sales of actual units posted a healthy jump to 225 units in 20�0, compared to �52 in 2009 — a 48% increase. The average sale price also increased 33.5%, from $435,3�7 in 2009 to $58�,089 in 20�0. While this increase certainly reflects the closing of units in Vail Resorts’ new One Ski Hill Place (at much higher unit prices), sales of all other units has picked up briskly, and as of as of March 5, 20�� there were 4� Condo and Townhome sales and �9 under contract.
Existing Inventory Shrinks One clear and necessary step in real estate market recovery is absorption of existing inventory. As properties take longer to sell there become a growing number of properties on the market, thus contributing to downward pressure on real estate prices.
The good news is that we have witnessed a drop in existing inventory for sale in 20�0 for just about every Breckenridge property category: Single Family Homes inventory was down by 4.6%, Duplex inventory was down by �7.6%. Condominium inventory decreased by 9.�% and Townhome inventory increased by �7.4%.
Specifically, in The Highlands area, which generally counts for about half of the home sales over $� million, the inventory of existing homes for sale has dwindled from 59 at the end of 2009, to 27 currently. 20�0 sales in The Highlands area held their own quite respectably with 3� sales, compared to 32 sales in 2009 — bucking the decline in the Breckenridge Single Family Homes category.
A shrinking inventory is important for all of us, as it is a clear signal that our market is regaining its vitality and shrugging off its doldrums.
Vacant Land Sales Up 45% It wasn’t long ago that you could count the number of building permit applications at the building department on the fingers of one hand. While it does not herald a building boom, 20�0 Breckenridge area land sales spiked from 40 in 2009 to 58 in 20�0, a 45% increase. People looking to invest millions in new construction is a significant influencer in the long term faith in our area’s market. Clearly, construction has always been a principal economic driver for all segments of the Breckenridge community and local economy.
What’s Happening Now? – Pending Sales One of the difficulties with the real estate appraisers’ view, and sales data in general is that they only look at what has already happened — looking in the
The Source NewsletterMarch | 20��World Class Service. Home Town Team.
Sno
w S
culp
ting
Pho
to C
redi
ts: R
on S
helto
n
(continued on p.2)
229 South Main Street Breckenridge, Colorado | (970) 453-2200 | (800) 774-7970 | www.BreckenridgeAssociates.com2
Real Estate Market (continued from cover)Showcase Your Property Our New Website
Choose Breckenridge Associates Real Estate & Feel Confident Your Property Is In Good HandsBreckenridge Associates Real Estate remains a market leader in Breckenridge and all of Summit County. Each of our Brokers is an owner of the company, resulting in an uncommon dedication to the business, the industry and our community. We continue to out-perform our closest competitor who has 3 times as many agents. Your Home Town Team gets the results you want because we understand what Breckenridge means to you. Our World Class Service keeps our customers coming back to us and has them sending business to us, every day.
Our Brokers offer you the insight gained over decades of service in the area. Concise statistical data and reporting tools we use and share with our clients provide an overview of the past and possible future trends, but nothing outweighs the value of experience.
Our specialty is you. Whether you are seeking that cabin in the woods, a mountain top estate or ski-in/ski-out condo, our focus is on getting you where you want to be, when you want to be there.
It’s all about you!
Want to learn more? Contact us at www.BreckenridgeAssociates.com or visit one of our downtown Breckenridge offices today.
Marketing your property on the web is more important than ever with nearly 90 percent of buyers using the web as part of their real estate search process.
The new www.BreckenridgeAssociates.com features:
>> Search Engine Optimization. Our website is always one of the top results in Breckenridge real estate, pushing more visits to our website.
>> Increased Site Visits. Since the launch of our website in Fall 20�0, we’ve seen a spike in website visits of more than 30 percent each month to date.
>> Property Search. Our site features a simple, yet sophisticated Quick Search making it easy for buyers to find the properties they’re looking for with ease.
>> Enhanced Listing Features. We help your listing stand out with MyZoom, providing a slideshow virtual tour of your property. Additionally, enhanced mapping capabilities of GIS Subdivision Plat Integration allow buyers to see listings from an aerial view.
>> Interactive Blog. Get real estate news from our team of Brokers, community information and more here.
>> Stay In Touch. Visit our homepage to sign up for our monthly ENewsletter for real estate tips, market updates, community happenings, events and more.
rear view mirror. To see where you are going you need to look ahead — through the windshield. That windshield is pending real estate sales. This is the picture of what is currently happening in the local real estate market.
The 4th quarter of 20�0 witnessed a clear uptick in people writing contracts on real estate, with a total of �8 properties over $� million going into contract, compared to �� in the 4th quarter of 2009. In the first two months of 20��, 42 properties went into contract — and �0 of the properties were over $� million.
As we move through the early part of 20��, Breckenridge shows the following properties pending contract (as of March 5, 20��): Single Family = 30, Duplex/Townhome = �0, Condos = �9.
The Breckenridge real estate market is in a state of flux and appears to be on the mend. Call your Broker/Partner today to learn more about buying or selling real estate in Breckenridge and the surrounding areas.
Source: 2010 Year End MLS Data & 2011 MLS Data pulled March 5, 2011
Top (from left): Dan Corwin, Andy Clapp, Andrew Biggin, Laurie Huggins, Jason Hart. Middle (from left) Kirk Dice, Jonna Beardsley, Tracey Woods, Tom Day, Rob Neyland, Pete Deininger. Bottom (from left) Ron Shelton, Mike Krueger, Kim Stevenson, Richard Wallace.
Breckenridge Associates Real Estate Team
Visit www.BreckenridgeAssociates.com for the monthly Top 5 Real Estate Deals in Breckenridge.
Breckenridge & Summit County Real Estate
3
BEAuTIFuL LuxuRY ESTATE 5 acre parcel ski-in/ski-out surrounded by National Forest. Nothing will compare to the superior “built to last” construction and meticulous detail of finishes and quality that adorn this 5 bedroom residence. Custom fireplace, lighting, windows, private theatre, game room and more. $3,800,000www.BreckenridgeAssociates.com/S373491
IN THE HEART OF IT ALL Closest single family home to the Gondola, steps from Main Street and overlooking the Blue River. Sweeping views of the ski area from the private hot tub and best deck in town. $2,900,000 www.BreckenridgeAssociates.com/S372687
VIEWS, LOCATION, VALuE Huge views over Breckenridge in a beautiful forested setting. Walk to Main Street, close to ski area. 6,000 square feet with 6 bedrooms, 6 baths, family room and hot tub. $�,995,000www.BreckenridgeAssociates.com/S372976
BOuLDER RIDGE HOME, NExT TO PEAK 8 BASE VILLAGE Luxury Home with 5 Bedrooms, 4 of which are suites, 2 full kitchens, Lock-off capabilities for huge rental income. Nordic Ski out your back door. $�,990,000www.BreckenridgeAssociates.com/S370823
ORIGINALLY $3.4 MILLION, NOW BELOW $2 MILLION Minutes away from downtown Breckenridge, over 6,000 square feet with 800 semi-finished additional. Oversized 3-car garage, top of the line finishes, appliances and stonework. Backs to National Forest, trail access and mountain views. $�,999,000www.BreckenridgeAssociates.com/S373385
SHOCK HILL CuSTOM This well established Summit County builder has teamed up with Suzanne Allen Guerra to build this stunning Shock Hill residence. Seller will build to suit. This 5 bed, 4.5 bath home will meet/exceed the standards already set in Shock Hill. Steps from Gondola. $3,300,000 www.BreckenridgeAssociates.com/S374521
229 South Main Street Breckenridge, Colorado | (970) 453-2200 | (800) 774-7970 | www.BreckenridgeAssociates.com
Breckenridge & Summit County Real Estate
4
BRECKENRIDGE GOLF COuRSE LuxuRY Breathtaking mountain home located in The Highlands at Breckenridge with beautiful views over the golf course. Heavy log and natural stone accents showcase this exceptional open floor plan. 5 bedroom suites, 6.5 baths. $�,875,000www.BreckenridgeAssociates.com/S374530
GREAT VALuE IN THE HIGHLANDS AT BRECKENRIDGE You get a lot for your money in this Colorado style Highlands at Breckenridge home on the 4th hole of the Bear of the Breckenridge Golf Course. Over 5,000 square feet of living space plus a 3-car garage. Main floor master, gourmet kitchen, steam shower and lots more. $�,275,000 www.BreckenridgeAssociates.com/S374003
BEAuTIFuL HAND-SCRIBED LOG HOME ON 4.5 ACRES 4 bedroom home located in Summit Estates with 6 bathrooms and over 4,000 square feet of living space. This home can sleep the entire clan! $�,�50,000 www.BreckenridgeAssociates.com/S374849
BIG HOME WITH BIGGER VIEWS With 5 bedrooms and 2 living areas, there is room for all your family and friends in this gorgeous post and beam home with breath taking views of the Ten Mile Range. $�,�00,000www.BreckenridgeAssociates.com/S374451
COME ON IN COLORADO Comfortable 3 bedroom plus loft with awesome sun and views pouring in through all the windows. In a wonderful neighborhood on the bus route. Easy walk to Main Street, Breckenridge. $�,�99,000www.BreckenridgeAssociates.com/S372598
SKI-IN FAMILY ESTATE AT THE BASE OF PEAK 8Short Sale approved. Ski-in with just a short walk to the lifts at the base of Peak 8. Kitchen is great for entertaining with granite countertops and room for the whole family. Over 5,500 square feet, large living and dining area, fully furnished and turnkey ready! $�,630,000 www.BreckenridgeAssociates.com/S374008
Visit www.BreckenridgeAssociates.com for the monthly Top 5 Real Estate Deals in Breckenridge.
Breckenridge & Summit County Real Estate
5
FEW MINuTES TO SKI SLOPES Private cul-de-sac location, Red Mountain views, 4 bedrooms, office, family room, wet bar, 2 rock fireplaces, quality finishes and a large sunny deck. $�,099,000www.BreckenridgeAssociates.com/S374549
SKI-IN LOCATION Charming ski chalet right by the Peak 8 base of the world-class Breckenridge Ski Area! Boasts 5 bedrooms and a large family room – space for the entire extended family to spread out. $959,000 www.BreckenridgeAssociates.com/S369109
PERFECT FOR ENTERTAINING, INSIDE AND OuT Beautiful, large home on Peak 7 cul-de-sac, �.5 miles from ski resort. Serene setting and mountain views from this fully furnished home. Open floor plan, soaring ceilings and gorgeous flagstone patio-ideal for indoor/outdoor entertaining. Great Buy! $945,000www.BreckenridgeAssociates.com/S371523
uNIQuE SKI SLOPE FRONT ROW CEDARS TOWNHOME 3 bedroom plus garage and open floor plan. Totally renovated, fireplaces in bedrooms, wood floors, granite counters, new bathrooms and kitchen. Walk downtown, great hiking and listen to the river out your front door. $889,000www.BreckenridgeAssociates.com/S373148
LOG ACCENTED MOuNTAIN HOME ON NEARLY AN ACRE Absolutely beautiful 5 bedroom Ralph Lauren style log accented mountain home on .98 acres with views of the Breckenridge Ski Area and Ten Mile Range. Recently renovated with log accents, open great room, sumptuous master with jetted tub, European style fixtures and furnished to the max. $950,000www.BreckenridgeAssociates.com/S371289
STuNNING ARCHITECTuRAL QuALITY This home has a beautiful main floor master suite plus another 3 mini-master suites offering huge views, terrific privacy and all day sun! $�,000,000 www.BreckenridgeAssociates.com/S374772
229 South Main Street Breckenridge, Colorado | (970) 453-2200 | (800) 774-7970 | www.BreckenridgeAssociates.com
Breckenridge & Summit County Real Estate
6
LARGEST KEYSTONE TOWNHOME PROPERTY 5 bedrooms, 3 bathrooms, 3-car garage, new kitchen appliances and granite countertops plus a deck with views of Keystone Resort. Great amenities including a sauna and tennis courts. This property has it all and is a must see. $699,000www.BreckenridgeAssociates.com/S373340
VILLAGE AT BRECKENRIDGE 2 BEDROOM CONDO Beautifully remodeled 2 bedroom corner condo in the heart of Breckenridge. Recent extensive exterior remodel completed by HOA. Granite, marble, and new wood finishes. Fabulous rental. Best location in Breckenridge. Easy walk to Peak 9 ski lift and Main Street. Reduced to $6�9,900 www.BreckenridgeAssociates.com/S374239
LAKE DILLON VIEWS Get the most for your money. 4 bedroom home, 2 family rooms, central location, 2-car garage, hiking and cross-country ski trails. Nice furnishings included! $599,000www.BreckenridgeAssociates.com/S372522
BEST PRICED 3 BEDROOM IN BRECKENRIDGE 3 bedroom, 3 bath has 2 patios with large private hot tub, private end unit with extra windows out of the traffic flow! Heat included in dues! Sleeps �0. On shuttle, walk to Peak 9 lifts. Furnished! $565,000 www.BreckenridgeAssociates.com/S371516
BREATHTAKING SKI SLOPE VIEWS This property was designed for future expansion to 4,000 square feet, adding to its future investment potential. Call for a copy of the design concepts. The main level features an open kitchen, dining and living area with floor to ceiling windows and large deck to enjoy the views. $599,990www.BreckenridgeAssociates.com/S372990
FRISCO COMMERCIAL PROPERTY Prime Highway 9 property with plenty of parking. 695 Summit Blvd. offers 4 separate units in one price. � office space, 2 retail spaces and � warehouse space. 4,200 total square feet. $649,900 www.BreckenridgeAssociates.com/S374226
Visit www.BreckenridgeAssociates.com for the monthly Top 5 Real Estate Deals in Breckenridge.
Breckenridge & Summit County Real Estate
7
GORGEOuS VIEWS FROM YOuR COuCH This property will meet and exceed your expectations. From the extra windows and views in every direction to the perfect ski-in, walk to town location. 2 bedroom, 2 bath. $529,000www.BreckenridgeAssociates.com/S374563
BLuE RIVER GEM Less than 3 miles from Breckenridge, this 4 bedroom 3 bathroom home has room for everyone. New carpet, fresh paint and attached 2-car garage complete the package. $475,000www.BreckenridgeAssociates.com/S373429
SWEET BRECKENRIDGE CONDO 2 bedroom, 2 bath sweet condo just 2 minutes walking distance from the gondola and Main Street in Breckenridge. In excellent condition. Can’t believe it’s this cheap. $365,000www.BreckenridgeAssociates.com/S373357
PENTHOuSE STuDIO IN NEW VILLAGE AT BRECKStunning multi-million dollar exterior facelift. Assessment paid. Top floor, south west facing, dynamite views. Downtown ski-in/ski-out! $299,000www.BreckenridgeAssociates.com/S374278
MOuNTAIN CABIN NExT TO MAJESTIC SKIING Next to the National Forest trailhead, fishing, hiking, snowmobiling all from home. House added onto 7 years ago, connected to sewer and new roof replacement. Huge and unique views. Watch the beavers from your deck or go and tickle a trout! Cute as heck! $425,000www.BreckenridgeAssociates.com/S373252
LuxuRY 2 BEDROOM - WALK TO TOWN & SKI AREA This stunning Corral condo is spacious, beautifully furnished, has great views of the Breckenridge Ski Area and has its own private hot tub. $495,000 www.BreckenridgeAssociates.com/S369370
�
World Class Service. Home Town Team.
Breckenridge Associates Real Estate
P.O. Box 768
229 S. Main St.
Breckenridge, CO 80424
®
Visit our website for the hottest real estate deals in Breckenridge. Look for the Top 5 Real Estate Deals icon on our homepage at www.BreckenridgeAssociates.com to see our Brokers’ top picks in real estate deals each month.
Your Breckenridge Real Estate Search Starts Here
www.BreckenridgeAssociates.com
Visit www.BreckenridgeAssociates.com to sign-up for The Source Newsletter, our monthly ENewsletter.
Scan this code with your smart phone to begin your
Breckenridge property search.
229 South Main Street Breckenridge, Colorado | (970) 453-2200 | (800) 774-7970 | www.BreckenridgeAssociates.com
Top 5 Real Estate Deals
Become our Facebook fan
Twitter.com/BreckAssoc
YouTube.com/BreckAssocRE
Stay In Touch:
