News

Check out market updates

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

Item
Q3 2019
Q3 2020
% +/-
——————————————————————————————————————————————————————————————————
VELOCITY (Source – Land Title Guarantee Company)
Item:
Q3 2019:
Q3 2020:
% +/- :
Commercial Sales Volume
$81.9M
$62.6M
-23.6%
Item:
Q3 2019:
Q3 2020:
% +/- :
Commercial Transactions
38
44
-15.8%
SALES TAX INDICATORS (Source – Town of Breckenridge)
Item:
Q3 2019:
Q3 2020:
% +/- :
All Sales Taxes
$16.5M
$13.9M
-15.8%
Item:
Q3 2019:
Q3 2020:
% +/- :
Retail Taxable Revenue
$125M
$110.3M
-11.7%
Item:
Q3 2019:
Q3 2020:
% +/- :
Restaurant/Bar Taxable Revenue
$114.4M
$86.3M
-24.5%
Item:
Q3 2019:
Q3 2020:
% +/- :
Lodging Taxable Revenue
$137.9M
$127.3M
-7.7%
Item:
Q3 2019:
Q3 2020:
% +/- :
Weedtail Taxable Revenue
$8M
$7,9M
-1.2%
Item:
Q3 2019:
Q3 2020:
% +/- :
RE Transfer Taxes
$5.3M
$5.1M
-3.8%
BRECKENRIDGE VACANCY RATE
Q3 2019:
Q3 2020:
% +/- :
VACANCY RATE
0.83%
2.2%
167.5%
CAP RATES
Q3 2019:
Q3 2020:
% +/- :
CAP RATES
5.9%
6.2
5%
SUMMIT COUNTY RESIDENTIAL REAL ESTATE
Item:
Q3 2019:
Q3 2020:
% +/- :
Residential Total Sales
$1.35B
$1.37B
1.3%
Item:
Q3 2019:
Q3 2020:
% +/- :
Residential Transactions
1,658
1,637
-1.3%
Item:
Q3 2019:
Q3 2020:
% +/- :
Single Family Home – Average Price
$1,262,929
$1,313,710
4%
Item:
Q3 2019:
Q3 2020:
% +/- :
Multi Family Home – Average Price
$559,776
$607,276
8.5%
Item:
Q3 2019:
Q3 2020:
% +/- :
Residential Days on Market
49
57
16.3%
Item:
Q3 2019:
Q3 2020:
% +/- :
Residential Listed for Sale
418
220
-47.4%
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.

Signup for FREE Market Report

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.