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5 Things to Know About the Real Estate Market in Breckenridge

Breckenridge real estate has always been considered desirable and the standard of living in the town has always been high. For this reason, houses that go on the market sell fast and property continues to be considered a hot commodity and in demand. The year round appeal of Breckenridge, access to nature, and the community all play a role into the price of real estate on the market.

Rising Real Estate Market Prices

Not only is the real estate market in Breckenridge solid, but prices have been rising consistently for the last two decades. The word is out on the desirability and quality of life here, so much so that property does not stay listed for long, is sold for the asking price at the very least, and owners often have multiple offers after listing. If you are seriously interested in purchasing real estate in this corner of the world, be ready to make a solid offer and have wiggle room in case you find yourself in a bidding war over a property you absolutely love.

 

You May Be Looking at a Flipped House

 

As with any strong and popular real estate market, there are going to be a lot of flipped houses on the market. Much of Breckenridge real estate is older construction, but when you look at real estate photos the interiors do not match the structures in age. This is because many of these homes were purchased and flipped after cosmetic updates were done to the inside. Make sure you get a good inspector so that not only do you purchase a home that looks good on the inside, but is sound.

 

Most Houses Are Vacation Houses

 

You might be in the market for a vacation home, but not everyone is. It is important to understand that most of the real estate in the Breckenridge area is not occupied full time and is only used when vacationing. This might play a role when you are looking for something that is in a neighborhood or real estate that is more isolated. Because of the way in which most people use their homes here, the amenities and options attached to homes are a reflection of the lifestyle.

 

Every Season in Breckenridge is Good

 

There is no peak season for the real estate market in Breckenridge, because they are all good. Sales do well here year round, even if the area establishments are closed for the season. Therefore, it is important to have someone on the ground keeping an eye on new properties that pop up for you at all times. Don’t wait until you are able to come to town and have a look at real estate because nothing sits on the market for very long and it is always the best time of year to list.

 

There is Less Available

 

While property values are going up and real estate is being sold fast, the number of properties hitting the market each year is steadily decreasing. This may be a result of many different factors, but together they all play a role into the amount of Breckenridge real estate that is out there for anyone to purchase. What’s more, Breckenridge is only so big, and there is only so much land available for building so a building boom isn’t on the horizon anytime soon. For this reason, if you are serious about buying and see something you like, it might be the only chance you have to buy.

 

Like the rest of the country, Breckenridge real estate will fluctuate in favor of both buyers and sellers at some point. It is smart planning to connect with a real estate agent that knows the area well so that you can get a sense of what is available, what you can afford, and buy when you are ready.

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