Skip to Content

Breckenridge Real Estate

Search Breckenridge Colorado Properties
Breckenridge Realtor on Facebook Breckenridge Realtor on Twitter Breckenridge Realtor Videos Breckenridge Realtor on Instagram Contact a Realtor Near Me

Not-To-Be-Missed Festivals & Events

Happy Thanksgiving!

I had to mention the holidays in Breckenridge and how spectacular and magical they are. After 25 years of living here in Breckenridge I never want to be anywhere else. There are still short term rentals out there just waiting for you to reserve and have the best Breckenridge holidays ever. There are also many properties on the market if you decide you don’t want to go home. That is actually what happened to Roger and I 25 years ago. We came for Christmas and I couldn’t stand the thought of leaving so we bought property and never looked back! True story! We are the experts in real estate in Breckenridge so give us a call and welcome to Colorado’s Playground.

 

Dec. 3, 2022 Lighting of Breckenridge & Race of the Santas
Dec. 8-10, 2022 Breckenridge Ullr Fest (Grab your Viking hats!)
Jan. 23-Feb. 1, 2023 International Snow Sculpture Championships

Breckenridge Short Term Rental Information

Breckenridge short term rental information is the most asked about topic these days. The vision for the town has changed, with the need for affordable housing being at the top of the list. Also the need for those that purchased a property as a second home to be able to enjoy it as a home in a residential neighborhood and not have renters coming and going all season long. There are definite questions you should be asking when purchasing a second home or investment property in Breckenridge. The best way to find out in-depth information is the town website (townofbreckenridge.com) as the goal of the town is clearly laid out for you. See these items below as being the most important as well as knowing how long the wait is for a short term rental license.

Short Term Rental Caps and Zoning

A short-term rental property is defined as “a residential dwelling unit, or any room therein, available for lease for a term of less than thirty (30) consecutive days.”

  • A valid short-term rental license is required for each short-term rental property.
  • Individual homeowner associations may have requirements, restrictions and covenants related to short-term rentals.
  • The license is required regardless of how the properties are marketed (through a management company, on-line through websites such as VRBO and Airbnb, newspaper ads, word of mouth, etc.).
  • The license number must be displayed in all advertisings for the property.
  • Short-term rental licenses are non-transferable/non-refundable in event of property sale.

The Breckenridge market is different

Is the real estate market in Breckenridge feeling the recession and deflated prices? I have gotten many calls about the Breckenridge market lately. I know I say this a lot but we are not in a regular real estate market. Breckenridge is a ‘resort market’ so we do not have the struggles that other markets do. A few examples are, trying to qualify for a loan, higher appreciation rates, finding and securing primary housing. The higher inflation that we all feel is having less of an impact on us. Investors are seeing opportunities and also many people are tired of the ever-fluctuating stock market. If that is the case for you let’s talk about what is the best way for you to proceed. You cannot enjoy your stocks but you can enjoy your mountain cabin with the family and avoid I-70 traffic!!

 

 

Short Term Rental Ordinance Passed!

Great news! It has been made official! Finally. The ordinance has passed! The town has over 350 licenses available in Zone 1 for short term rentals. We are anticipating licenses to remain available for a while within Zone 1.  Zone 1 is ‘in town’ properties. It took awhile but they have finalized this zoning issue. So if you are purchasing in town you can see how many permits are available by going to the town website. This is great news for sellers as the properties for buyers now have more appeal and will sell faster as the buyers have a chance to buy a property in Breckenridge and make some income to help offset their mortgage. So if you were concerned and this issue was holding you back from making a purchase in Breckenridge for your mountain getaway or ski in ski out investment property you are invited to come back and talk to us and we will help you get started. There are other zones outside of town and of course there are those exempt from the permits that we have discussed such as the resorts with front desk etc. So, isn’t it nice to get good news! We are are so happy!

Summit County officials lay out approach for new short term rental regulations

By Elli Wright
Summit Daily

Editor’s note: This story has been updated to correct that planning commission membership is already set.

One month into Summit County’s nine-month-long short term rental moratorium in neighborhood zones, it was decided that public input would be the priority when creating new regulations.

The Summit County Planning Department and the Board of County Commissioners met Tuesday, June 21, to figure out the best way to use the next eight months and come out the other side with short term rental regulations that work in the best interest for everyone.

In previous years, short term rentals have boomed in Summit County. According to numbers provided at the commissioners’ May 24 meeting, approximately a third of all houses in Summit County have a short term rental license, and of those, only 10% of them are unincorporated county residents.

This has caused workforce housing to dwindle, housing prices to skyrocket, and it’s even led to unexpected ramifications like emergency responders who struggle to live close enough to work to go home during the week.

The county came up with a preliminary set of newer regulations over the course of last fall, including different zones that would separately prioritize the needs of neighborhoods vs. resorts. However, “Summit County is not a one-size-fits-all approach,” Summit County Commissioner Elisabeth Lawrence said.

For the past month, then, the planning department came up with five goals for the next round of regulations: preserve access to local workforce housing, foster character and uphold the values of Summit County’s neighborhoods, reduce conflicts, create balance and finally, produce clear and easy-to-understand regulations.

The balance between locals, non-short-term rental second homes and short-term rentals was the most challenging hurdle to tackle, officials say, which is why there was such an emphasis on public opinion.

“This is a tough conversation where there are competing interests, so it’s important for everyone in the community to give their input,” Summit County Commissioner Tamara Pogue said.

For example, Pogue mentioned that in the past, there has been conflict about whether or not a neighborhood like Peak 7 in Breckenridge should be more focused on resort housing or neighborhood characteristics.

Lawrence also said that she has heard complaints from people who have lived in apartments for almost 10 years that are now being sold to be used as short-term rentals.

And while county officials have started to come up with some ideas, like capping short term rental licenses on a neighborhood-by-neighborhood basis, the consensus from all of the commissioners seemed to be that they need to hear from the public before moving forward on anything because even as they try to come up with new regulations, towns are also brainstorming their own short-term rental regulations.

“We don’t operate in a vacuum,” Pogue said, which is why that additional piece will have to be taken into account moving forward.

Pogue said the first potential mode of action will be to hold town halls for each of Summit County’s basin communities. At these town halls, Pogue hopes to hear from the public about “​​how short term rentals should be regulated, ideas around regulation, thoughts around impacts, positive and negative impacts that need to be mitigated.”

That information will then be relayed to planning commissions, whose members are appointed by county commissioners. After the planning commissions have a chance to consider the first round of public input, then the county commissioners will take the summary from the planning commissions for consideration. From that information, they will create a first round of potential regulations, and then the process will start all over again by those regulations being shared with the public at more town halls and neighborhood conversations around the county.

“That’s really why we thought that this moratorium needed to be nine months because we wanted to have a lot of opportunity for the community to give their input, and that takes time,” Pogue said.

Jessica Potter, the senior planner of the Summit County Planning Department, presented on the goals, process and data that has gone into the new short-term rental regulation plans.

“We do have the bones to move forward in a really efficient way,” she said.

 

Interstate 70 leading towards the basin of Summit County is pictured on Tuesday, March 27, 2018 near Loveland Pass. County officials met Tuesday to discuss how best to spend the next eight months of the short-term rental moratorium to create new and improved regulations in unincorporated areas of the county, like Keystone near Loveland Pass.
Hugh Carey/Summit Daily News archive

Short Term Rental Update

Short Term Rental issues are affecting buyers and sellers in Breckenridge. This letter is the latest from our board of realtors in Summit County. Many people have questions and I have promised updates as they come in, so here is the latest. As realtors in Summit County, we are active in trying to change this new imposition as it applies to investment-minded buyers and the sellers that are having their properties remain on the market a bit longer than the last couple of years. If you were considering making a purchase in Breckenridge this could play in your favor, in the initial purchase price, if you are willing to wait for the short term rental issues to be resolved and become less fluid than they are now. I think it looks promising that the west side of Main Street (referenced in this letter as the Resort Overlay Zone), as they are some of the best real estate investments for ski in ski out rentals, may be exempt from the permit waiting list. Fingers crossed. More to come.

You may download and read the letter from the Board of County Commissioners here:

6.15.22 SAR Letter from the BOCC [pdf]

Total skier visits hits record in 2021-22 season; Rocky Mountain region sees highest spike across nation

Skiers ride Sun Up Express in the Back Bowls Thursday, April 21, in Vail.
Chris Dillmann/Vail Daily archive

May 14, 2022 (Reprinted from Summit Daily News)

A record-breaking ski season brought visitation up 3.5% across the country from 2020-2021 visitation numbers, according to the National Ski Areas Association.

There were a total of 61 million skier visits in the U.S. during the 2021-22 season, the association announced Friday.

The Rocky Mountain region reported the highest increase with more than 25.2 million visits. This is a record high for the area comprising New Mexico, Colorado, Utah, Wyoming, Idaho and Montana.

The Northeast, Midwest and Pacific Southwest regions also saw an increase in visitation. The only two regions to see a decrease were the Southeast and Pacific Northwest.

“This record visitation signals that the U.S. ski industry is healthy, and that the demand for outdoor recreation remains strong,” the association said in a statement. “There were signs of this during the 2020-2021 season as the realities of the COVID-19 pandemic led more people to seek outdoor activities. Strong skier numbers bode well for the long-term health of the sport, especially since participant numbers have been relatively flat over the past decade.

At least 11 more ski areas opened this past season when compared to 2020-2021 numbers for a total of 473.

Snowfall totals typically bring higher visitation, but this past season was below the 10-year average of 166 feet of snow. The average snowfall across the country this winter was 145 feet.

Despite record visitation, many ski resorts reported that they had issues attracting and retaining staff throughout the season. At least 81% of the ski resorts polled said they were not fully staffed. The average number of positions left unfilled was 75.

In the wake up staffing woes, resorts responded with raising wages, adding end-of-season bonuses and investing in affordable workforce housing.

In Summit County, Vail Resorts decided to raise its minimum wage to $20 per hour for next season, and the company is currently in a battle with the town of Vail to build an employee housing project in East Vail.

Looking ahead to next season, resorts have planned a record amount of capital investment, totaling $758 million. Those investments include new lift infrastructure, terrain expansion, workforce housing, upgraded dining and other amenities, the National Ski Area Association reports.

Interest rates in perspective

People are concerned about making the purchase of their Breckenridge dream home. This is just a reminder about the history or mortgage rates that might help. Seeing things as they are and not as I may imagine often helps put things in perspective. We are still seeing a large amount of activity in Breckenridge listings and sales. In fact I just got four new listings this week so here we go for the summer 2022! May it be great!

Understanding a Housing Bubble

Is there going to be a housing bubble in Breckenridge?

A housing bubble is a temporary event, but it can last for years. Usually, it’s driven by something outside the norm such as manipulated demand, speculation, unusually high levels of investment, excess liquidity, deregulated real estate financing market, or extreme forms of mortgage-based derivative products—all of which can cause home prices to become unsustainable. It leads to an increase in demand versus supply.

If we look at who is buying the properties up here in the mountains none of these apply. We are not seeing a manipulated demand, or deregulated real estate financing for example. I cannot of course say how long this type of market will last but so far we are seeing no signs of stopping.
Covid of course started the ball rolling with people fleeing the cities but also I think Covid changed how Americans do business in many ways. The one that affects us the most is the fact that so many people can now work at home given the option and of course technology is making this possible as well.

First quarter 2022 stats for homes and condos

Here are some of the first quarter statistics for homes and condos in Breckenridge. Our phones are ringing off the hook still asking if we think the market will stay the same in 2022. The answer is YES!
If you look at the appreciation rate of 37% it is beyond what anybody would have thought. We are still seeing growth with no signs of slowing down. People believe this to be a bubble but it is not. I will explain more about that in my next blog.
  • Number of Sales: The number of home sales are down  26%.
  • Average Price Increase: The average sold price increase was +37%!
  • Inventory: Today there are only 59 single family homes for sale in all of Summit County. The average list price of the homes for sale is $4,944,975.
  • Percent of List to Sold Price: The average percent of the list to sold price is 100%.
  • Number of Sales: The number of condominium sales are down 26%.
  • Average Price Increase: The average sold price increase was +26%!
  • Inventory: Today there are only 43 condominiums for sale in all of Summit County. The average list price of the condos for sale is $1,176,495.
  • Percent of List to Sold Price: The average percent of the list to sold price is 103%.