Real estate in the Breckenridge and Summit County market is a hot commodity but still a real value in comparison to other resort markets.
Don’t believe everything you read in the media about soft real estate markets! The Summit County market is HOT, HOT, HOT! Presently, since it’s spring, traditionally the time when there are the most listings, there are only 264 residential listings in Breckenridge, for example. Of those, 109 are over $1 million, 50 are over $2 million and 11 are over $3 million. That’s a very dramatic change from the past few years and the lowest inventory we’ve seen in years.
Summit County is on the move. After watching markets in Park City Utah, Jackson Hole Wyoming, Sun Valley Idaho and Whistler BC zoom with prices out of sight, Summit County real estate is definitely coming on. However, it’s still a relative bargain compared to other resort markets, with reasonable prices per square foot and plenty of choices. There’s even some buildable land available, unlike places like Aspen where newly issued building permits are few and far between, or Tahoe where “tear downs” can cost several million dollars.
With resort markets traditionally strong, and a steady long term equity appreciation, Summit County offers a wonderful array of investment and second home opportunities.