Breckenridge Real Estate Blog

Breckenridge Real Estate a Good Investment or Not?

There is a certain immunity from the down trends currently being experienced in the majority of the nation. If you look at where the markets have softened, they are almost all in major metropolitan areas — where primary home ownership depends largely on the availability of good jobs. However, historically, Summit County has been uptrending since the early 1980s. Our market is differentiated from major metropolitan areas by several dynamics, all of which argue for a continued uptrend:

• Breckenridge is predominantly a second home market — roughly two thirds of all properties in the county are owned by non-residents. The market is changing somewhat as more retirees find their way to live here full time, but even in that case, we are talking about people who have saved or earned their way to retirement heaven. We are actually finding more and more people whose primary home is here in Breckenridge and their second or third homes are elsewhere.

• Breckenridge is approaching build-out. That is, in roughly four years, all the land available for development will have been built on (or the development will have been accounted for and planned). There will be no more land available.

• Multi-family building permits have plummeted, while single family permits have spiked. Inventory is roughly 30 percent of normal.

• Locals’ housing in Breckenridge has becoming less and less affordable, prompting every community and the county to push for more affordable construction or conversion. We clearly have more buyers than property available in that sector, as well.

• With regard to second homes, we are servicing predominantly two vital sectors of the American population — GenYers and baby boomers. GenYers represent a hard working younger generation with well-paying jobs who do not want to wait for retirement to enjoy life. And, of course, baby boomers have reached the age where they feel they have earned it. Those with the resources are flocking to resorts like ours.

• It is predicted that our population will double in the next 15 years. At that time, it is estimated that we will be short over 2,000 housing units.

• The laws of supply and demand clearly argue for a continued healthy real estate market in Summit County.

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REAL ESTATE

If you would like additional information about real estate in Breckenridge Colorado as well as anywhere in Summit County Colorado contact us at 1-800-791-3990 ext 421.

Jeffery McClintock, is a real estate broker in Summit County and prides himself on providing clients with professional guidance in all phases of residential new construction, including market research, product development, consulting, marketing and advertising. His personal mission is to bring to you a level of knowledge, experience, commitment, high standards and results to answer your real estate needs. He believes, the most effective way to provide superior service is to build a strong working relationship with you. His system includes regular consultations and feedback, which is the best tool for identifying and clarifying your real estate objectives and help define strategic solutions.