May Real Estate Update

 

Memorial Day... ​Is on May 31st this year.  Why not set aside some time to honor those who gave the ultimate sacrifice? Take flowers or flags to a local cemetery and place them on the graves of members of the military, or search for Memorial sites near you to visit or take an interactive tourof Arlington cemetery.   Nancy Yearout's Insights on "What's Up" with the Real Estate Market today! ​ Well, Unless you live on another planet 😊 or haven't been paying attention to my Monthly Market Update and News, you know that the real estate market in Breckenridge, all of Summit County, Denver/Front Range and across the Nation over the last 14 months has been sizzling "HOT".  In the meantime, I have heard from a few of you that think this could turn into a 'bubble' ... well check out this May 12th article from Realtor Magazine quoting top economists that tells why, 'This Isn't a Bubble'   Further, it is expected that interest rates will remain relatively low, home inventory will expand some, it will remain a Sellers' market, and home prices will continue to increase at maybe, a slightly slower pace.  ​Now for any of you that are, have been, or could be thinking of selling to either make a move elsewhere or upgrading your present investment(s) and utilizing the IRC Section 1031 like kind Tax Deferral to offset any capital gains. Then you should consider doing so, sooner rather than later as there are proposed changes in the works that could limit your like-kind deferral to a maximum of $500,000 gain Limiting1031 Exchanges   ​ Contact me today - I am here to help any of you succeed in Summit County, Colorado real estate.              Fun Stats in the Market Stats Video Above The Average Sold Priced Jumped 26%. The Number of Sold Properties surged 74% for the 1st Q. 2021 sales YTD (1/1 - 4/30) were the 2nd highest, ever! Inventory of properties to buy is down 76%. The percent of the list to sold price is over 100%! April 2021 Sales tied for the second highest April ever.  Market Statistic Details: History of Sales & Average Sold Prices 2004 - 2020, Condominium Sales by Town, Single Family Home Sales by Town, Residential Sales by Town,  Nancy Yearout Broker Associate RE/MAX Properties of the Summit 970-485-0293 nancy@buyinbreckenridge.com buyinbreckenridge.com ​ RE/MAX Properties of the Summit - 2 Offices in Summit County, CO - Frisco & Breckenridge. Breckenridge  Frisco  Silverthorne  Dillon  Keystone  Copper Mountain  Source: Sold Data from Summit Realtors MLS. Stats pulled on 5/4/21. *Summit Realtors MLS Data  Annual 1/1 through 12/31. *Residential Sales (home, Condo, Townhome & Duplex),  Sales for Jan, Feb, Mar & April. Change is Year over Year 2021 vs 2020. **The information contained herein is based on information provided by others. Accordingly, we make no guarantee of its accuracy and suggest you make an independent inquiry of any matters you regard as important. ​Each office is independently owned and operated.