Breckenridge Market Report Q1 2022
Commercial real estate in Breckenridge is thriving.
We have the lowest vacancy rate for ground floor restaurant and retail space ever at .4.
The sales tax, which we consider a leading indicator has never been stronger during ski season with a year over year increase of 41%.
The International and National economies are starting to present headwinds. Residential real estate volume is well below last year this quarter due to lack of inventory in large part and increasing interest rates in a smaller part.
| | 2021 Q1 | 2022 Q1 | %+- |
| VELOCITY (Source – Land Title Guarantee) | | ||
| Commercial Sales Volume | $21,940,000 | $20,486,700 | -6.6% |
| Commercial Transactions | 11 | 13 | 18.2% |
| Range of NNN Rental Rates on Commercial Properties 2021/2022 | $28 per square foot | ||
| VACANCY RATE | 0.71% | 0.48% | -32.4% |
| CAP RATE | 6.1% | 6.0% | -1.6% |
| SALES TAX INDICATORS (Source – Town of Breckenridge) | | | |
| All Sales Tax | $9.36M | $13.28M | 41.9% |
| Lodging Taxes | $4.91M | $7.42M | 51.1% |
Breckenrige RE Market Update 1st Quarter 2022
PUBLIC POLICY CHANGES
* Workforce housing continues to be the top priority. * Short term rentals defined the local election results.
DEVELOPMENTS
Breckenridge Market Update 1st Quarter 2022
* Previously approved commercial property (Entrada) being rezoned for workforce housing. * 4th Street Crossing North (Silverthorne) working its way thru approvals.
