Breckenridge Q1 2025 Market Update Report

Summit County Market Update

PUBLIC POLICY CHANGES

Breckenridge’s new energy efficiency building codes will require builders and commercial properties to improve energy efficiency, including better insulation and preparing homes for future electric upgrades. These rules should make it easier to follow energy laws, but may increase costs, especially for electrical upgrades.

Summit County is developing a waitlist for short-term rentals (STRs) in the Upper Blue and Lower Blue Basins. This will give homeowners the chance to obtain a license and start generating income, something that hasn’t been possible for a couple of years.

DEVELOPMENTS

Breckenridge Grand Vacations received clearance to build the Imperial Hotel & Private Residences at the base of Peak 8. The 400,000 sqft project will consist of 90 fractional ownership condos, 43 whole ownership condos, 36 hotel units and nine townhomes.

Silverthorne is considering a major development near the Outlets that would replace a vacant lot and the area housing Chipotle with high-density housing and commercial space. Town officials are negotiating a development agreement that would require the developers to help mitigate traffic and improve infrastructure in the area, which is known for congestion. The project could include up to 118 residential units and 27,000 square feet of commercial space, with incentives for workforce or senior housing.

Kindred Resort has delayed its opening from Summer 2025 to Winter 2025. Kindred consists of 95 luxury condos and 107 hotel rooms.

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Q1 2024 Q1 2025 %+-
VELOCITY (Source – Land Title Guarantee Company)
Summit County Commercial Sales Volume

$20,697,000

$43,346,600

109.43%

Commercial Transactions 11 14

27.27%

VACANCY RATE 
CAP RATE 
SALES TAX INDICATORS (Source – Town of Breckenridge)
Breckenridge Sales Tax

$12,463,760

$12,197,379

-2.14%
Short Term Lodging Taxes

$86,816,479

$87,329,744

.59%

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About The Author

darren nakos focuses on health care commercial real estate investments, multi-family development and commercial real estate brokerage, darrennakos

Darren Nakos is the Founder/Managing Broker for Recentric Realty Group where he focuses on commercial real estate investments, multi-family development and commercial real estate brokerage. Darren Nakos's approach to commercial real estate is both highly quantitative and qualitative in his analysis and selection of commercial real opportunities for buyers and sellers.