A market analysis by Land Title Guarantee Company in Breckenridge reports that Summit County hit $1,475,627,499 in property sales for the year 2005. Yes, thats almost 1 1/2 BILLION dollars in real estate activity for the county.
This represents a 31% increase over 2004 in dollar volume and a 14% increase in the number of transactions completed.
Breckenridge posted the largest volume and number of transactions of all the towns in Summit County.
In a separate survey performed on random condominium complexes in Breckenridge, Susan Gunnin found that the typical condo in Breckenridge increased 12% in value from 2004 to 2005.
This bodes well for current investors, and presents a real opportunity for future buyers. See Susan's web site for more information.
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Tuesday, January 31, 2006
Thursday, January 12, 2006
Early season skier visits set new record
Colorado resorts host more than 3 million so far this season
An article in the January 12, 2005 Summit Daily News written by Nicole Formosa reports that the 25 Colorado ski resorts that make up Colorado Ski Country USA, set a new record for skier visits during the first portion of the season. A skier visit is one person skiing one day.
The 25 ski resorts together hosted 3,085,186 skiers from October 15 through December 31. This is a 5.6% increase over 2004, and a 10.94% increase over the last 5-year average.
Colorado Ski Country USA president, Rob Perlman, said "Although we have the majority of the ski season ahead of us, early reports indicate the first 10 days of January have been strong, keeping Colorado on pace for a record year."
Leading the change is the Front Range Destination Resorts, which include all the resorts in Summit County as well as Vail and Beaver Creek. These resorts are up more than 10% from last year.
Perlman attributed the success to record, earlyi season snowfall as well as the marketing efforts of Colorado Ski Country USA and the individual resorts. He said "There's a lot of excitement going on in Summit County in particular.
December was the fourth snowiest early season in Breckenridge since the early 1800's. And precipitation has been above average every month since September, and more than 150 inches of snow has fallen since October.
The success of the ski season has a tremendous impact on real estate values. For more info on this subject, visit Susan Gunnin's web site.
Thursday, January 05, 2006
SNOW, SNOW AND MORE SNOW!!
A couple of articles in the Summit Daily News today, written by Bob Berwyn, addressed the phenomenal amount of early season snowfall we've had in Summit County this year.
The first "Streak of welcome wet weather persists" is near and dear to my husband, Don's, heart! Don is the prime snow shoveler at our home, with occasional help from our daughter Tessa. Don claims he's never shoveled so much snow this early. In fact, he says he's already shoveled more snow in these first few weeks of winter, than he ususally shovels in a whole year. And we've lived here for 17 years.
A summary of the article:
It probably won't come as a surprise to anyone who's spent the last few weeks shoveling, but snowfall for the month of December was once again above average for Summit County.
We've had four straight months of above average precipitation. December didn't bring anywhere near record snows, but if you take into account the total of 111 inches that fell in October, November and December, it adds up to the fourth-snowiest winter ever. The prior years with more snow for the same period were 1893, 1969 and 1983.
Since Colorado, along with other western states have been in a drought mode for the past several years, this snow bodes well for the potential filling of our reservoirs. Most of the water that feeds Colorado's reservoirs is from melting mountain snow.
So, "When will the snow stop?" This is the topic of the second news article.
"It looks good for the next two months" said Dr. Klaus Wolter, a climate scientist with the National Oceanic and Atmospheric Administration's climate diagnostics center in Boulder. "I don't see any big changes .." in the conveyor belt of storms rolling in from the Pacific on the prevailing westerlies.
As a note of caution, Wolter mentioned that a developing La Nina could put a damper on precipitation later in the spring.
Upon hearing this, my husband simply breathed a sigh of relief!!
The first "Streak of welcome wet weather persists" is near and dear to my husband, Don's, heart! Don is the prime snow shoveler at our home, with occasional help from our daughter Tessa. Don claims he's never shoveled so much snow this early. In fact, he says he's already shoveled more snow in these first few weeks of winter, than he ususally shovels in a whole year. And we've lived here for 17 years.
A summary of the article:
It probably won't come as a surprise to anyone who's spent the last few weeks shoveling, but snowfall for the month of December was once again above average for Summit County.
We've had four straight months of above average precipitation. December didn't bring anywhere near record snows, but if you take into account the total of 111 inches that fell in October, November and December, it adds up to the fourth-snowiest winter ever. The prior years with more snow for the same period were 1893, 1969 and 1983.
Since Colorado, along with other western states have been in a drought mode for the past several years, this snow bodes well for the potential filling of our reservoirs. Most of the water that feeds Colorado's reservoirs is from melting mountain snow.
So, "When will the snow stop?" This is the topic of the second news article.
"It looks good for the next two months" said Dr. Klaus Wolter, a climate scientist with the National Oceanic and Atmospheric Administration's climate diagnostics center in Boulder. "I don't see any big changes .." in the conveyor belt of storms rolling in from the Pacific on the prevailing westerlies.
As a note of caution, Wolter mentioned that a developing La Nina could put a damper on precipitation later in the spring.
Upon hearing this, my husband simply breathed a sigh of relief!!
WHAT DOES THIS HAVE TO DO WITH REAL ESTATE?
It's really pretty simple. Real estate values in a ski resort are greatly affected by the skiing experience, especially for property owners who have short-term rentals in their property. The better the skiing -- the better the rental revenue! Check my website or call for more information about this phenomenon.
We haven't yet received data about the volume of skiers visiting Breckenridge thus far this season, but I'm quite sure we will approach a new record in this regard. As soon as data is available, it will be pubished here.
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