News

Check out market updates

Breckenridge/Summit County Market Update – September 2020

Commercial Real Estate sales volume for Summit County of $45M YTD in 2020 is down 45.1% compared to sales YTD in 2019 of 81.9M. Residential Real Estate sales for $483.1M YTD in 2020 is down 24.5% compared to sales YTD in 2019 of $639.6M. Sales Taxes in Breckenridge are down 19.5% YTD in 2020 compared to taxes collected YTD in 2019. Vail Health has broken ground of a 102,000 sf emergency dare and orthopedic surgery center. The Town of Breckenridge has broken ground on a $45M parking structure in the downtown core. Two Silverthorne properties have received proposals for development.

BRECKENRIDGE/SUMMIT COUNTY MARKET UPDATE

Item
Q2 2019
Q2 2020
% +/-
——————————————————————————————————————————————————————————————————
VELOCITY (Source – Land Title Guarantee Company)
Item:
Q2 2019:
Q2 2020:
% +/- :
Commercial Sales Volume
$81.9M
$45M
-45.1%
Item:
Q2 2019:
Q2 2020:
% +/- :
Commercial Transactions
38
27
-28.9%
SALES TAX INDICATORS (Source – Town of Breckenridge)
Item:
Q2 2019:
Q2 2020:
% +/- :
All Sales Taxes
$11.3M
$9.1M
-19.5%
Item:
Q2 2019:
Q2 2020:
% +/- :
Retail Taxable Revenue
$74.4M
$56.3M
-24.3%
Item:
Q2 2019:
Q2 2020:
% +/- :
Restaurant/Bar Taxable Revenue
$69.1M
$47.1M
-31.8%
Item:
Q2 2019:
Q2 2020:
% +/- :
Lodging Taxable Revenue
$98.2M
$78.8M
-19.8%
Item:
Q2 2019:
Q2 2020:
% +/- :
Weedtail Taxable Revenue
$4.9M
$4.2M
-14.3%
Item:
Q2 2019:
Q2 2020:
% +/- :
RE Transfer Taxes
$3.3M
$2.2M
-33.3%
BRECKENRIDGE VACANCY RATE
Q2 2019:
Q2 2020:
% +/- :
VACANCY RATE
0.83%
2.2%
167.5%
CAP RATES
Q2 2019:
Q2 2020:
% +/- :
CAP RATES
5.9%
N/A
SUMMIT COUNTY RESIDENTIAL REAL ESTATE
Item:
Q2 2019:
Q2 2020:
% +/- :
Residential Total Sales
$639.6M
$483.1M
-24.5%
Item:
Q2 2019:
Q2 2020:
% +/- :
Residential Transactions
820
609
-25.7%
Item:
Q2 2019:
Q2 2020:
% +/- :
Single Family Home – Average Price
$1,282,929
$1,189,857
-7.3%
Item:
Q2 2019:
Q2 2020:
% +/- :
Multi Family Home – Average Price
$559,776
$814,274
45.5%
Item:
Q2 2019:
Q2 2020:
% +/- :
Residential Days on Market
55
61
10.9%
Item:
Q2 2019:
Q2 2020:
% +/- :
Residential Listed for Sale
613
647
5.5%
PUBLIC POLICY CHANGES
  • Short Term rentals allowed to open June 1
  • Social distancing requirements hurting Restaurants
  • Summit County trying to terminate open space/conservation easement to allow for Senior Housing project
DEVELOPMENTS
  • Vail Health has broken ground of a 102,000 sf emergency dare and orthopedic surgery center.
  • The Town of Breckenridge has broken ground on a $45M parking structure in the downtown core.
  • 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.