Breck owns November’s top 5 sales

In November, Summit County’s most expensive residence was a four-bedroom, 3,800-square-foot home with five fireplaces, a three-car garage and unencumbered views of a nearby golf course and the mountains.

Built inside Breckenridge’s Highlands Park subdivision, it went for $3.3 million. Right next door, another single-family home also changed owners in November, selling for $2.46 million and making the third-most expensive sale of the month.

The Shock Hill neighborhood typically posts some of the most expensive housing sales in Summit. November was no outlier with three Shock Hill homes, including a duplex and a condo, rounding out the county’s five priciest pieces of real estate for the month.

With Shock Hill boasting a convenient mid-station gondola stop offering doorstep access to Breckenridge Ski Resort and Nordic trails out most of the homes’ backdoors, the duplex sold for $2.46 million and the four-bedroom condo brought a $2.29 million price tag.

The five Breckenridge homes were leaders among 43 real estate transactions worth $1 million or more in Summit County for the month, according to property records on file at the Summit County Assessor’s Office.

More notable is that those 43 sales represent a steep increase in the number of luxury homes — defined as any residence sold at or over $1 million — compared to November last year.

While Summit County’s luxury market continues to show strength in sales, property records at the assessor’s office paint a different picture, showing that overall the real estate market was flat compared to November 2017.

In fact, Slifer Smith & Frampton broker associate Eddie Bowers noted in a recent analysis of November’s sales that the real estate market actually slowed down this November with the number of residential transactions and dollar volume both down compared to November 2017.

In many ways, the market continues to be defined by a historically low number of available listings, which has driven buyers to pay higher prices. While the higher prices have led to rising sales volumes some months this year, the actual number of sales has been dragged down by the severe scarcity and therefore the combined sales volume has kept largely in line with last year.

According to Liv Sotheby’s International Realty’s most recent quarterly report covering January through September, all of this has made 2018 an ideal year for sellers. The average price of a home in Summit County increased more than 10 percent and the average number of days one spends on market dropped by one-fifth compared to last year.

via:: Summit Daily