Breckenridge Market Update Q2 2022

Breckenridge Market Update Q2 2022

market update liv sotheby's breckenridge

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 Q22022 Q2%+-
VELOCITY (Source – Land Title Guarantee )
Commercial Sales Volume$78.5M YTD$83.5 YTD6.4%
Commercial Transactions2823.6%
VACANCY RATE.05%
CAP RATE6.0%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$18.8M49.4%
Lodging Taxes$9.9M$13.2M33.4%

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.

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.