Home Breckenridge, Keystone, Copper Mountain, Arapahoe Basin, ski areas; Summit County Colorado world’s premier ski summer resort destinations.
And Summit County Colorado Real Estate market feeling force recession. fact, market data ss tt market decline bn at se time Bear Sterns collapsed. Prior time, Summit County fairly immune facing rest real estate industry tt US. my reasons this, them:
- Compared rest country, Summit County fairly low percentage sub-prime borrowers loan defaults plagued or markets mh factor Summit County.
- Summit County experience speculative bubble occurred markets. sessions destination resort market, Summit County real estate Buyers purchase purpose personal and/or tourist rental income, intent sell short term.
- In absence speculative bubble, bg surrounded mountains National Forest, or development Summit County te or markets.
Of course, te counter-examples ps included comparison or markets ge gl overview real estate market Summit County leading quarter 2008. extent, Summit County real estate market been, continues be, defined overall economy necessarily trends real estate industry whole.
And wh exception hand talking heads Wall Street bail-out recipients, rest tt economy doing well.
The recession resulted decline Summit County real estate sales prices, nr sales, overall sales volume. listings continue market resulting abundance inventory.
One hardest hit sectors Summit County real estate market bn vacant land. investigate ts further, following wl examine lots tt sold Breckenridge Colorado 2009 $400,000 $500,000 price range:
- The ft resale lot Highlands Breckenridge $403,000 08/14/09. case, Seller paid $550,000 land 05/31/07 market peak.
- The sale developer Western Sky Ranch Breckenridge 4.98 acre lot $499,000 09/22/09. Bg developer sale, previous sales information ts property. But, closest comparable sale wn Western Sky Ranch adjoining lot 3.58 acres sold $725,000 01/04/08, ao prior market contraction.
- The td ar resale Highlands Breckenridge 11/03/2009 $465,000 wh originally listed $599,000 06/16/2009. Seller ts property purchased 1996 $165,000.
- The fourth sale Warriors Preserve subdivision wh originally listed $595,000 01/03/2008 sold $415,000 12/11/2009. Seller’s purchase information available.
- The fifth lot Warrior’s Mark West subdivision $420,000 originally listed $550,000 06/16/2009. again, Seller’s purchase information available.
As writing, te 27 lots listed Breckenridge Colorado $400,000 $500,000 price range. Ts means currently 5 inventory based 2009 sales volume. mt land listing market spring summer.
Five sales narrow price range define entire Breckenridge real estate market vacant land. Breckenridge define Summit County whole. market vacant land directly translate residential property. mt generalized Summit County Colorado market data inventory up, transactions down, prices reflecting te facts.
There positive signs future Summit County real estate market hold:
- In anticipation inflation, money moving td hard assets. recent record prices gold reflect this. Real estate ao historic hedge inflation discrepancy price gold price real estate near history. words, takes fewer ounces gold buy average home before. wh bullion numismatic gold increasingly difficult find, inventory available real estate rise, ts trend last?
- Colorado projected impacted recession. Unemployment Colorado lower national average, personal income higher, Colorado economy significant high-tech, natural resource, alternative energy sectors.
- Bloomberg recently reported tt Vail Resorts Inc., wh owns Breckenridge Keystone, projecting skier visits overall bookings ski season or component Summit County real estate market rental income generated renting homes condos tourists.
With inventory prices it rates down, ideal time invest Summit County real estate. me information, contact Ted Amenta - Summit County real estate agent.
Copyright 2010 - rights reserved Ted Amenta
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Ted Amenta Realtor® Breckenridge Colorado, helping people buy sell Breckenridge Real Estate or real estate Summit County Colorado. Summit County includes Breckenridge, Keystone, Frisco, Dillon, Silverthorne, Copper Mountain, Blue River, Wildernest.
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