Breckenridge/Summit County Market Update – August 2018
Commercial Real Estate sales volume of $44.7M with 33 transactions YTD in 2018 is up 65.2% compared to sales Jan-July 2017 with 30 transactions worth $27.1M. Residential Real Estate sales for $720M YTD in 2018 are up 8.6% compared to sales Jan-July 2017 of $663M. Sales Taxes are up 10.4% YTD compared to taxes collected Jan-July 2017. New commercial real estate development projects include Keystone Wintergreen Workforce Housing Project, Peak 8 Luxury Hotel and Condominiums, Town of Silverthorne 4th St. Crossing, Town of Silverthorne Smith Ranch Workforce Housing Project and Keystone Seasons Project.
BRECKENRIDGE/SUMMIT COUNTY MARKET UPDATE
VELOCITY (Source � LTGC)
Commercial Transactions
30
33
10.0%
SALES TAX INDICATORS (Source � Town of Breckenridge)
COMMERCIAL VACANCY RATE**
CAP RATES
RESIDENTIAL REAL ESTATE
Single Family Average Price
Residential Days on Market
Residential Listed for Sale
$1,110,125
71
569
$1,066,151
52
533
-4.0%
-26.8%
-6.3%
PUBLIC POLICY CHANGES
- Short Term Rental Restrictions
DEVELOPMENTS
- Keystone Wintergreen Workforce Housing Project
- Peak 8 Luxury Hotel & Condominiums
- Town of Silverthorne 4th Street Crossing
- Town of Silverthorne Smith Ranch Workforce Housing Project
- Keystone Seasons Project