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 market decline bn at se time Bear Sterns collapsed. Prior time, Summit County bn fairly immune ps facing rest real estate industry US. my reasons this, them:
- Compared rest country, Summit County fairly low percentage sub-prime borrowers loan defaults plagued markets factor Summit County.
- Summit County experience speculative bubble occurred or markets. sessions destination resort market, mt Summit County real estate Buyers purchase purpose personal and/or tourist rental income, wh intent sell short term.
- In absence speculative bubble, surrounded mountains National Forest, or development Summit County markets.
Of course, counter-examples wh included oy comparison or markets 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, sales, overall sales volume. listings continue market resulting abundance inventory.
One hardest hit sectors Summit County real estate market vacant land. investigate ts further, following examine lots sold Breckenridge Colorado 2009 $400,000 $500,000 price range:
- The resale lot Highlands Breckenridge $403,000 08/14/09. case, Seller paid $550,000 land 05/31/07 market peak.
- The sd sale developer Western Sky Ranch Breckenridge 4.98 acre lot $499,000 09/22/09. developer sale, te previous sales information property. But, closest comparable sale wn Western Sky Ranch adjoining lot 3.58 acres sold $725,000 01/04/08, prior market contraction.
- The resale Highlands Breckenridge 11/03/2009 $465,000 originally listed $599,000 06/16/2009. Seller property purchased 1996 $165,000.
- The fourth sale Warriors Preserve subdivision 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 wh originally listed $550,000 06/16/2009. again, Seller’s purchase information available.
As writing, 27 lots listed Breckenridge Colorado $400,000 $500,000 price range. means currently tn 5 yr inventory based 2009 sales volume. 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. generalized Summit County Colorado market data inventory up, transactions down, prices reflecting facts.
There ao positive signs future Summit County real estate market hold:
- In anticipation inflation, money moving hard assets. recent record prices gold reflect this. Real estate historic hedge inflation discrepancy bn price gold price real estate near history. words, takes fewer ounces gold buy average home tn before. wh bullion numismatic gold bg increasingly difficult find, inventory available real estate rise, ts trend last?
- Colorado projected lt impacted recession. Unemployment Colorado lower tn national average, personal income higher, Colorado economy significant high-tech, natural resource, alternative energy sectors.
- Bloomberg recently reported tt Vail Resorts Inc., wh owns bh Breckenridge Keystone, projecting skier visits overall bookings ski season lt component Summit County real estate market rental income generated fm renting homes condos tourists.
With inventory prices 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 tt Summit County Colorado. Summit County includes Breckenridge, Keystone, Frisco, Dillon, Silverthorne, Copper Mountain, Blue River, Wildernest.
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