The numbers don’t quite tell the real story… although it looks like prices have dramatically changed in the past year (the average home price for the 1st half of 2010 is only 83% of 2009 prices, and condo prices appear to be up 30%) in reality what we are seeing is a change in buying habits. Prices of individual properties are actually very close to what we saw in 2007 but the average prices are skewed by a high number of sales this year in the luxury condo market (Breck ski slope units at $1200/foot) and the bargain hunters in the single family market, making the extremes the most popular.
Land is barely moving as lot loans are more difficult to get than home loans, and the available home bargains make building look less attractive. But if you have always wanted a custom home this would be a great time to negotiate deals with hungry contractors.
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Property Type/ Area
Single Family+Duplex
Condo+Townhomes
Land (residential)
Total volume
Avg transaction price |
Average
½ 2010 2009 2008 2007
772,056 930,602 894,332 856,045
514,972 394,880 476,475 417,749
376,673 334,880 506,702 401,112
255,573,580 581,542,066 807,555,901 1,290,891,969
598,533 595,232 605,364 530,576 |
Days On Market
½ 2010 2009 2008 2007
259 240 75 145
200 180 140 142
318 260 210 227 |
Number Sold
½ 2010 2009 2008 2007
156 373 402 638
239 536 801 1487
32 68 131 308
427 977 1334 2433 |
(latest)
93%
95%
88% |
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Single Family (only)
Breckenridge
Copper Mtn
Dillon/Summit Cove
Frisco
Keystone
Silverthorne/Wildernest |
½ 2010
958,485
-
512,531
844,500
797,000
805,884 |
2009
1,068,852
2,650,000
541,100
773,022
1,192,133
973,142 |
2008
1,036,935
-
606,407
877,464
1,134,722
908,486 |
2007
1,015,153
1,690,000
660,605
876,410
1,368,340
782,130 |
2010
259
-
220
289
448
306 |
254
115
159
241
150
285 |
170
-
120
206
204
211 |
159
213
118
138
228
188 |
2010
58
-
18
9
5
30 |
182
1
29
18
15
51 |
186
-
40
14
9
74 |
268
3
63
30
25
117 |
2010
92
-
94
90
93
94 |
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Condo (only)
Breckenridge
Copper Mtn
Dillon/Summit Cove
Frisco
Keystone
Silverthorne/Wildernest |
780,000
384,938
182,143
332,693
364,022
225,208 |
435,317
447,000
222,008
359,781
369,474
239,971 |
659,310
390,123
248,939
409,402
398,875
258,478 |
494,981
359,910
236,125
461.460
382,491
265,335 |
410
204
195
219
187
125 |
231
10
159
238
168
181 |
225
114
92
94
95
88 |
195
129
135
157
101
70 |
87
8
22
21
41
18 |
117
37
53
41
103
59 |
209
48
83
62
142
99 |
350
109
194
129
272
136 |
95
92
94
95
95
96 |
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Land (residential)
Breckenridge
Copper Mtn
Dillon/Summit Cove
Frisco
Keystone
Silverthorne/Wildernest |
438,865
-
131,500
-
90,000
319,000 |
319,985
-
193,000
340,000
469,286
322,155 |
557,177
1,166,667
310,273
387,250
621,667
420,053 |
445,365
743,167
244,794
337,583
323,700
340,488 |
300
-
118
-
-
537 |
281
-
402
845
189
284 |
202
131
310
34
121
220 |
202
319
235
86
204
318 |
22
-
3
-
1
6 |
41
-
1
3
7
16 |
75
3
15
4
3
31 |
187
3
17
6
30
65 |
88
-
92
-
100
84 |
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Laura Champe