Saturday, July 09, 2005

Breckenridge and Summit County Sales are Heating Up

Quick sales and multiple offers on properties emerge once again as the average selling price reaches an all-time high in Breckenridge and Summit County.

In the face of torrid sales volumes in nearby mountain resort communities over the past 18 months, Summit County's real estate market could have been considered lukewarm.

According to the sales figures for the first five months of this year, the local market is heating up.

Agents say the lag in the local market (as compared to Vail, Aspen and the nation's coastal cities) represents a healthier environment that will protect the area from a bubble that some national analysts say is developing as property values skyrocket. "Slow and steady increases are much more desirable," they say.

Sales volume was up every month through May of this year, totaling more than $440 million.

Sales volume rose almost $50 million in the first quarter, up 37.4 percent over 2004, and the average selling price reached an all-time high of $377,582.

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