Breckenridge Real Estate Blog

Luxury real estate in Breckenridge, Keystone resort properties, Silverthorne CO homes, waterfront Dillon, and small-town Frisco real estate continues to hold and appreciate in value during 2008, sustaining a decades-long pattern for real estate in Summit County, Colorado.  At the same time, the tourism industry in Colorado continues to garner an increasing amount of steam.  The combination looks great for investment real estate options in Breckenridge and Summit County.  Even with the current changes in the market, investing in real estate is still a steady way to increase wealth.

The average price for a home in the Town of Breckenridge CO in 2006 was $547,425.  By 2007, it rose to $663,186 and so far in 2008 the average sale price is $698,646.  For Keystone, those three numbers are $379,386 for 2006; $442,821 for 2007; and $514,507 thus far for 2008.  Silverthorne rang up as $499,773 in 2006; $605,126 in 2007; and $689,734 for the first part of 2008.  And the list goes on.

Although we are seeing fewer unit sales in 2008 than we have in several years, increases in appreciation rates are showing up in the steadily rising total dollar volume.  That trend will most likely continue.

The Colorado Tourism Office reported that overnight visitors to the state increased four percent from 2006 to 2007.  Overnight marketable leisure trips saw an increase of eight percent.  Just think.  If even a fraction of the increasing number of Colorado tourists are impressed with our fabulous recreational playground and decide to pick up a ski-in/ski-out condo or a fishing cabin, new interest will keep our Rocky Mountain haven on track to continue to surpass the overall housing market in the U.S.

Actually, we are fortunate to have fairly recession-proof clientele coming to the resort areas for vacation homes and investments that are fairly financially savvy.  These people understand that real estate is a sound investment.  Architectural Digest teamed up with Sotheby’s to survey million-dollar homeowners in select markets throughout the nation.  Half of the responders agree that the media exaggerates market conditions.  Over two-thirds of the respondents agree that now is a good time to add to real-estate holdings.  They also agreed that real estate is the best way to build personal wealth.

Owning a vacation home or investment property in these resort areas looks to be a great place to start or to build your portfolio.  Call Rick Allemang at (970) 547-1002 to find out about real- estate options to fit your family’s budget and needs.