Breckenridge/Summit County Market Update – December 2020
Commercial Real Estate sales volume for Summit County of $62.6M YTD in 2020 is down 23.6% compared to sales YTD in 2019 of 81.9M. Residential Real Estate sales for $1.37B YTD in 2020 is up 1.3% compared to sales YTD in 2019 of $1.35B. Sales Taxes in Breckenridge are down 15.8% YTD in 2020 compared to taxes collected YTD in 2019. Almost all commercial real estate projects are continuing through the Covid 19 Pandemic. The Town of Breckenridge $45M parking structure construction project in the downtown core is on schedule. Two Silverthorne properties have received proposals for development.
BRECKENRIDGE/SUMMIT COUNTY MARKET UPDATE
VELOCITY (Source – Land Title Guarantee Company)
SALES TAX INDICATORS (Source – Town of Breckenridge)
BRECKENRIDGE VACANCY RATE
VACANCY RATE
CAP RATES
CAP RATES
SUMMIT COUNTY RESIDENTIAL REAL ESTATE
PUBLIC POLICY CHANGES
- Covid 19 Surge has caused Summit County to restrict restaurant and retail business
- Social distancing requirements hurting Restaurants the hardest
DEVELOPMENTS
- Almost all commercial real estate projects are continuing through the Covid 19 Pandemic
- The Town of Breckenridge $45M parking structure construction project in the downtown core is on schedule.
- Two Silverthorne properties have received proposals for development.