Breckenridge/Summit County Market Update – September 2021
Commercial Real Estate sales volume for Summit County of $78.5M with 28 transactions in Q2 2021 is up 74.4% compared to sales in Q2 2020 of $45M with 27 transactions. Residential Real Estate sales for $1.1B in Q2 2021 is up 137.6% compared to sales in Q2 2020 of $468.4M. Sales Taxes in Breckenridge are up 39.2% in Q2 2021 compared to taxes collected in Q2 2020. Keystone Gondola Real Estate development project has broken ground. The Town of Breckenridge $45M parking structure construction project in the downtown core is on schedule to finish this fall. Breckenridge Grand Vacations 300,000sf gondola lots time share project is nearing final approvals.
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
- Pressure on Short Term Rentals
- Towns/Summit County has established workforce housing at top priority.
DEVELOPMENTS
- Keystone Gondola Real Estate development project has broken ground.
- The Town of Breckenridge $45M parking structure construction project in the downtown core is on schedule to finish this fall.
- Breckenridge Grand Vacations 300,000sf gondola lots time share project is nearing final approvals.