Breckenridge and Summit County, Colorado continue to enjoy a healthy real estate market. Based on the laws of supply and demand, the trend that began in the 1980s will continue marching on. In fact, population is projected to double in the next 15 years. However, with build-out on the horizon, there will be a shortage of options in Breckenridge real estate, Keystone real estate, Dillon real estate, and Frisco real estate to accommodate the market.
What demographics of people are moving to Summit County and Breckenridge CO homes? We see more and more full-time residents including retirees, vacation-home buyers, and local workers. Though two-thirds of all properties in Summit County are owned by non-residents, we are seeing some changes as more retirees and baby boomers are purchasing single-family residences for year-round living. Many of these people now own primary homes here and second or third homes in other locations.
Feeling like they deserve a second life midst our beautiful mountain resorts, these people have reached the age where they feel that they have earned a place in our haven. Quick to volunteer and to get involved, they add a stabilizing factor to our communities.
Another exciting sector of our local population is Generation Y. GenYers represent a hard-working younger generation with well-paying jobs. These people want to enjoy life as they go and look for properties in the resort areas to balance out the stresses that accompany the working world.
With strength still apparent in our real estate market, especially in contrast to the majority of the areas in the nation where the market has been dipping, much conversation is also going on about affordable housing needs. More housing options for the locals and people who hold the community together in the service sectors are needed. Every community in the County is pushing for affordable construction or conversion to help fill the demand. Even so, multi-family building permits for more affordable housing have plummeted while single-family permits are spiking in areas right outside of the towns.
Build out is upon us, however, and it will take some creativity to keep up with the demands. In four years, all of the land available for development will be spoken for. Its uses and plans will already be on the table. Putting two and two together, it looks like now is the right time to buy property in the area.
GRI Realtor Jonna Beardsley, a long-time resident, offers professional counsel and guidance for everyone relocating to the area.
Contact Jonna at (970) 390-2533 or 1-800-774-7970, jonna@breckenridgeassociates.com, or at the website www.jonnabeardsley.com for expert assistance when buying property here.
