Breckenridge, CO Housing Market: February 2025 Analysis, a potential shift in buyer preferences.

Breckenridge, CO Housing Market: February 2025 Analysis

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The Breckenridge, CO metro area housing market in February 2025 presents a complex landscape with varying trends across different metrics. The Median Sales Price has decreased by 4.2% year-over-year, now standing at $1,140,000. This decline is mirrored by the Median List Price, which has dropped by 8.7% to $975,000. Despite these decreases, the median Price Per Square Foot has increased by 6.6%, reaching $724.11, indicating a potential shift in buyer preferences towards smaller, more expensive properties.

Sales activity has slowed, with the number of Homes Sold down by 15.8% year-over-year, totaling 85 homes. Pending Sales have seen a slight decrease of 1.1%, with 89 transactions currently in the pipeline. New Listings have also declined by 6.1%, with 124 properties entering the market. However, inventory has surged by 23.1%, reaching 405 homes, which has contributed to a significant increase in the Months of Supply, now at 4.8 months, a 150% rise from the previous year.

The Median Days on Market have increased by 49%, now averaging 106 days, suggesting that homes are taking longer to sell. The average sale to list ratio has slightly decreased by 0.5%, now at 97.0%, indicating that sellers are receiving slightly less than their asking prices. The percentage of Homes Sold above list price has dropped by 15.9%, now at 5.9%, reflecting a cooling in competitive bidding scenarios.

Price Drops have decreased by 6.2%, with 17.8% of listings experiencing reductions. Additionally, the percentage of homes going off the market within two weeks has fallen by 14.2%, now at 24.7%, further highlighting the slower pace of sales.

Overall, the Breckenridge housing market is experiencing a period of adjustment, with declining sales prices and increased inventory levels. Buyers may find more opportunities as the market shifts, while sellers may need to adjust expectations in response to the evolving conditions.