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Breckenridge Market Report Q1 2022

market update liv sotheby's breckenridge

Commercial real estate in Breckenridge is thriving.

We have the lowest vacancy rate for ground floor restaurant and retail space ever at .4.

The sales tax, which we consider a leading indicator has never been stronger during ski season with a year over year increase of 41%.

The International and National economies are starting to present headwinds. Residential real estate volume is well below last year this quarter due to lack of inventory in large part and increasing interest rates in a smaller part.

2021 Q12022 Q1%+-
VELOCITY (Source – Land Title Guarantee)
Commercial Sales Volume$21,940,000$20,486,700-6.6%
Commercial Transactions
11
1318.2%
Range of NNN Rental Rates on Commercial Properties 2021/2022$28 per square foot
VACANCY RATE0.71%0.48%-32.4%
CAP RATE6.1%6.0%-1.6%
SALES TAX INDICATORS (Source – Town of Breckenridge)
All Sales Tax
$9.36M

$13.28M
41.9%
Lodging Taxes$4.91M$7.42M51.1%

Breckenrige RE Market Update 1st Quarter 2022

PUBLIC POLICY CHANGES

* Workforce housing continues to be the top priority. * Short term rentals defined the local election results.

DEVELOPMENTS

Breckenridge Market Update 1st Quarter 2022

* Previously approved commercial property (Entrada) being rezoned for workforce housing. * 4th Street Crossing North (Silverthorne) working its way thru approvals.

About The Author

Jack Wolfe, Liv Sotheby's International Realty

Jack Wolfe has spent more than 22 years in Colorado and has over 30 years of experience with virtually every type of real estate transaction. Jack Wolfe is based in Breckenridge and has expertise in commercial real estate development, sales and leasing and has worked with many large clients including Vail Resorts and Walt Disney Company.

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