Breckenridge/Summit County Market Update – March 2021
Commercial Real Estate sales volume for Summit County of $93.5M with 31 transactions in 2020 is down 45.6% compared to sales in 2019 of 172M with 38 transactions. Residential Real Estate sales for $2.15B in 2020 is up 31.8% compared to sales in 2019 of $1.63B. Sales Taxes in Breckenridge are down 7.7% in 2020 compared to taxes collected in 2019. Keystone Gondola Real Estate development project is moving forward. The Town of Breckenridge $45M parking structure construction project in the downtown core is on schedule. Breckenridge Grand Vacations will be submitting a 300,000sf gondola lots time share project by Spring 2021.
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
- 5 Star Restaurant Program has been successful.
- Towns/Summit County support of small business has been remarkable.
DEVELOPMENTS
- Keystone Gondola Real Estate development project is moving forward.
- The Town of Breckenridge $45M parking structure construction project in the downtown core is on schedule.
- Breckenridge Grand Vacations will be submitting a 300,000sf gondola lots time share project by Spring 2021.