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Telluride 2016 Year End Market Analysis Report

Posted by Steve Cieciuch on Thursday, February 2nd, 2017 at 11:33am.

2016 was a year in which the real estate market played catch up from early January, after the Dow Jones declined 1,000 points and the San Miguel Real Estate market consequently experienced a slowdown through early March.  The market started to rebound in late March and although pre-election turbulence continued to create buyer uncertainty through November, the market rallied back to near 2015 levels to end the year only 2% down in overall dollar volume and 1% down in the number of transactions.

Single Family Homes in the Town of Telluride continued its ascending pace and was the strongest market sector with a 33% increase in dollar volume and a 28% increase in transaction volume. 
 
Mountain Village Condominiums was the second strongest market sector with a 24% increase in Dollar Volume and a 23% increase in transaction volume.  
 
A significant rebound also occurred for high-end, Mountain Village single family homes above $5 million, which recognized 6 sales in 2016 compared to 1 sale in 2015. 
 
One market sector that cooled was Town of Telluride Condominiums which dropped 8% in total dollar volume and lost 17% in transaction volume.  Dwindling inventory seems to have played a role in the decline as there were 125 listed condominiums in 2015 versus 111 listed condominiums in 2016, an 11% decrease in the amount of available units. 
 
The following are market sector average statistics: 
 
Town of Telluride Average Sold Price: Single Family Residence: $2,294,186 (up 3%)
 
Mountain Village Average Sold Price: Single Family Residence: $3,474,700 (down .05%)
 
Town of Telluride Average Sold Price: Condominium: $910,182 (up 12%)
 
Mountain Village Average Sold Price: Condominium: $1,089,528 (up 1%)
 
Notable Sales:
 

Town of Telluride Residential

Address Sold Price Asking Price % off Asking Price SQ FT Bedrooms/Baths Price/S.F. Days on Market
224 N. Pine Street $6,200,000 $6,200,000 0% 4,916 4/5 $1,261  124
113 E. Gregory Avenue $3,945,000 $3,995,000 2% 3,040 4/4 $1,298 199

 

Mountain Village Residential

Address Sold Price Asking Price % off Asking Price SQ FT Bedrooms/Baths Price/S.F. Days on Market
140 High Country Road $7,500,000 $8,400,000 11% 10,618 5/7 $706 828
160 Sunny Ridge Place $7,237,500 $7,950,000 9% 8,760 5/6 $826 1,175


2017 has experienced an incredibly robust start, with January up 30% in total dollar volume and 17% in transaction volume. February was also up 30% in dollar volume and slightly down by 3% in transaction volume.  Through February the market was up 30% in total dollar volume and up 8% in transaction volume!

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