August 2005 real estate sales set a new record in Breckenridge and Summit County, Colorado. It was the busiest month ever recorded with over 400 transactions closed throughout the county.
(PRWEB) October 10, 2005 -- Buying and selling real estate in Breckenridge and Summit County, Colorado reached a new level of activity in August 2005 as a new record for transactions was set.
The month of August was the busiest ever recorded in Breckenridge and Summit County.
“The summer months are historically the biggest months for real estate transactions. But 400 transactions in the month of August is a record number,” said Nancy Yearout, Broker Associate for RE/MAX Properties of the Summit.
“This is a first ever – we have never seen that number of transactions in one month before. Breckenridge and Summit County real estate is really, really moving fast,” she added.
The record 400 August transactions were up 37 percent from August 2004, when 293 transactions were recorded.
Put into dollars, August transactions totaled more than $148 million, also far above the $102 million recorded sales in 2004.
For the year, sales volume for the county is on pace to exceed last year’s total dollar amount of more than $1.13 billion in sales – one of the highest year-long totals in recorded history. So far this year, total sales volume for the county is up 33 percent, and it doesn’t look like it’s going to slow down.
“September and October are going to be really busy as well, and I suspect we’ll set some more records,” Yearout added.
So far in 2005, total sales volume has been up every month over 2004, except June, when 2005 sales volume was even with 2004.
The highest percentage of transactions was for properties valued in the range of $300,000 to $500,000 – reflecting a general trend of increased real estate valuations in the middle of the market. Middle-market transactions are up across the board nationally, as interest rates remain relatively low and more people turn to real estate as an investment as opposed to traditional stock market or financial investments.
The areas around the county that saw the biggest percentage of those record transactions in August were Breckenridge with 37 percent, or 148 transactions, Frisco had 10.25 percent, or 41 transactions and Wilderness (near Silverthorne) saw 9.75 percent, or 39 transactions.
The median transaction price for the month was $293,000. The average transaction price for the month was $379,579.
Nancy Yearout can be reached at 970-485-0293
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