Peaks at Breckenridge

Vail Resorts has just released some preliminary information regarding the development of Peaks 8 and 7.

2006 - 1st Quarter Sales Statistics

Lot Sales

The number of subdivided lot sales is running at the same level as last year - 116 in 2006 compared to 109 during first quarter 2005. The total sales volume of $37.7m way surpassed last year’s $23.9m. This resulted in a 31.9% climb in the average selling price from $246,199 a year ago to $324,782.

Home Sales

The total number of housing sales for the first quarter has declined 3.3% compared to record year 2005. Resales of condominiums are up a slight 3.8%. The total dollar volume climbed $16.6m indicating an increase in the overall average price of housing. The average actually posted in at $425,804 - a 12.8% rise over first quarter last year and 8.3% over all of 2005 sales. The average selling price of a single family has surpassed $1m in Breckenridge, Frisco and the Ten Mile area. However, these averages are not as statistically significant as a full year’s worth of data.

The over all market remains extremely active as the summer selling season approaches. Even with the increase in interest rates, inventory remains tight in many price points and prices are continuing to rise.