Recently the Sonoran Institute's Community Builders held their 2012 summit in Glenwood Springs at the Hotel Colorado. The main subject revolved around the change and impact that Generation Y is having in the development of communities and real estate.
This discussion could have a deep effect on some up and coming communities and what to expect. Surveys and suggestions from some of Generation Y show that there is more of a demand for smaller homes with denser neighborhoods. Breckenridge real estate appears to be ahead of the up and coming trends in some aspects as to what "Y" is looking for in todays market.
Since the recession in 2008, after the real estate market was climbing for years, it allowed the market to take a step back and look at new trends and how communities could develop going forward. The result of this research concluded that Generation Y is much more of an outdoors community go-er and is more focused on the community they live in rather than the home.
These results show a new type of consumer for the real estate market. The importance placed on the actual home is one that is downsizing to provide smaller homes for a denser community. One of the developers noted that the preferred home size is 1994 had approximately 2,800 square feet where as today the desired number is less than 2,000.
The appeal of this type of community is one that brings everyone together easily in a walkable manor. The appeal of being able to walk to Main Street for a community event or to meet friends while also being able to walk and access trails is unlike any other. This type of community thinking seems to have already been adapted in Summit County, Colorado where the results can be seen.
Breckenridge is a beautiful town that already encompasses the wants of Generation Y with a large Main Street full of shops and restaurants easily accessed by many residents. This community has many close neighboorhoods to the Main Street area and provides a close knit community while having all of the outdoor activities and amentities a step away as well.
This same concept can be seen in other areas of Summit County as well from Frisco to Keystone and over to Copper Moutain. All of these smaller town communites are built in a tight area creating a strong community background for residents. All of these communities are tied together as well and easy to move between with free public transportation provided by the county.
As generations begin to change so do the buying patterns of those emerging into importance. Generation Y seems to be an active group that enjoys being a part of their community. The idea of their future community is already a reality to an extent in Summit County and is one to see.
If you have visited the Summit County community or are going to in the future and are interested in looking at properties in this great place please contact one of our real estate professionals today at Ten Peaks Sotheby's International Realty today.
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