Breckenridge Market Update Q2 2022
We have moved from a Seller’s market to a balanced market in residential real estate. Commercial real estate has not changed with low vacancy rates and stable cap rates.
Breckenridge has less than a 1/2 of 1% vacancy rate in restaurant and retail space.
| 2021 Q2 | 2022 Q2 | %+- | |
| VELOCITY (Source – Land Title Guarantee ) | |||
| Commercial Sales Volume | $78.5M YTD | $83.5 YTD | 6.4% |
| Commercial Transactions | 28 | 2 | 3.6% |
| VACANCY RATE | .05% | ||
| CAP RATE | 6.0% | 6.1% | |
| Range of NNN Rental Rates on Commercial Properties 2021/2022 | $29 PSF to $61PSF NNN | ||
| SALES TAX INDICATORS (Source – Town of Breckenridge ) | |||
| All Sales Tax | $12.6M | $18.8M | 49.4% |
| Lodging Taxes | $9.9M | $13.2M | 33.4% |
DEVELOPMENTS
- Previously approved commercial property (Entrada) being rezoned for workforce housing.
- 4th Street Crossing North (Silverthorne) has begun demolition.
- Aiden West in Silverthorne has been approved.
