Breckenridge/Summit County Market Update – January 2020
Commercial Real Estate sales volume for Summit County of $172M in 2019 is up 109% compared to sales in 2018 of 82.1M. Residential Real Estate sales for $1.73B in 2019 is up 3.6% compared to sales in 2018 of $1.66B. Sales Taxes in Breckenridge are up 7.1% in 2019 compared to taxes collected in 2018. Keystone Gondola Hotel gets by big hurdle. The Town of Dillon moves forward with approval of new medical center operated by The Steadman Clinic, Vail Health and Howard Head Sports Medicine. Dillon and Silverthorne continue to be the focus of new development.
BRECKENRIDGE/SUMMIT COUNTY MARKET UPDATE
VELOCITY (Source – Land Title Guarantee Company thru September 2019)
SALES TAX INDICATORS (Source – Town of Breckenridge thru November 2019)
BRECKENRIDGE VACANCY RATE
VACANCY RATE
CAP RATES
CAP RATES
SUMMIT COUNTY RESIDENTIAL REAL ESTATE
PUBLIC POLICY CHANGES
- Breckenridge is revisiting limits on short-term rentals
- State Bill being considered to tax short-term lodging at the commercial property tax rate
- Summit Health Care Alliance helping Summit County citizens decrease health insurance costs by 29%
- Home Depot site under contract
DEVELOPMENTS
- Keystone Gondola Hotel gets by big hurdle
- The Town of Dillon moves forward with approval of new medical center operated by The Steadman Clinic, Vail Health and Howard Head Sports Medicine
- Dillon and Silverthorne continue to be the focus of new development