Breckenridge Q4 2024 Market Update Report
PUBLIC POLICY CHANGES
Summit county is updating the comprehensive plan which will provide direction on land use, development and environmental preservation for the next 20 years.
Summit County is auditing STR websites and issuing fines to property owners that do not have valid licenses. They have passed an ordinance that requires permit numbers to be posted on listing sites and have the authority to have “illegal” listings removed.
DEVELOPMENTS
Kindred Resort in Keystone is expected to be completed during the 2025-2026 ski season. The development will feature 93 residential units, a hotel with 107 rooms, a spa and fitness center, retail spaces, three restaurants, and a conference facility capable of accommodating 350 guests.
A significant redevelopment project has been proposed in Dillon town core, which will include a grocery store, restaurants, commercial space, a parking garage with 289 spaces, and workforce housing.
In Dillon, the previously terminated Uptown 240 project, originally planned for 80 condominiums, will resume development this spring under the new name Waterview Residences. Further details to come.
Newly constructed commercial spaces, built to suit, are available for lease or sale in Frisco at 9097 Lofts and in Silverthorne at 4th Street Crossing.
| 2023 YTD | 2024 YTD | %+- | |
| VELOCITY (Source – Land Title Guarantee Company) | |||
| Commercial Sales Volume |
$99,693,000 |
$159,485,800 |
59.98% |
| Commercial Transactions | 39 | 44 | 12.82% |
| VACANCY RATE | |||
| CAP RATE | |||
| SALES TAX INDICATORS (Source – Town of Breckenridge) | |||
| All Sales Tax |
$36,424,295 |
$36,359,033 |
-0.17% |
| Lodging Taxes |
$6,314,016 |
$6,119,752 |
-3.07% |
