In my third quarter update, I stated we were anticipating an El Nino winter, and boy has it come to fruition, with 208 inches of snow since November! That's over 17 feet! The skiing has been absolutely tremendous!
Regarding the real estate market, 2015 ended up 6% in transaction volume but down 9% in total dollar volume. All in all, 2015 was the second biggest year for total dollar volume and recorded the highest number of transactions since the height of the market in 2007.
Mountain Village condominiums were a very active sector of the market with a 36% increase in dollar volume and a 26% increase in transaction volume.
An important takeaway from 2015 year end statistics is that certain market sectors are experiencing steady appreciation. The median price of a Mountain Village condominium rose 12.4% and the average price rose 7.9%.
The median price of a Mountain Village home rose 16.7% and the average price rose 3.8% to $3,510,000.
The average price of a home in Telluride rose 8% to $2,262,000.
Another active sector of the market were regional homes in San Miguel County located outside the Town of Telluride and Mountain Village. This sector was up 12% in total dollar volume versus 2014 and 4% in transaction volume.
Notable Sales in the fourth quarter of 2015 for the Town of Telluride and Mountain Village are as follows:
| Address | Sold Price | Asking Price | % off Asking Price | SQ FT | Bedrooms/Baths | Price/S.F. | Days on Market |
| 405 E. Depot | $4,350,000 | $4,350,000 | 0% | 3,451 | 5/5.5 | $1,261 | 0 |
| 308 N. Aspen | $3,437,500 | $3,700,000 | 7% | 2,855 | 2/2.5 | $1,204 | 196 |
| Address | Sold Price | Asking Price | % off Asking Price | SQ FT | Bedrooms/Baths | Price/S.F. | Days on Market |
| 205 S. Oak #A | $2,550,000 | $2,700,000 | 5.5% | 2,170 | 4/4.5 | $1,175 | 155 |
|
100 W. Colorado #303 & #304 |
$3,450,000 | $3,850,000 | 10.4% | 2,713 | 3.5/3.5 | $1,271 | 132 |
| Address | Sold Price | Asking Price | % off Asking Price | SQ FT | Bedrooms/Baths | Price/S.F. | Days on Market |
| 184 & 180 Butch Cassidy Drive | $13,700,000 | $13,700,000 | 0% | 8,220 | 5/6.5 | $1,667 | 495 |
| 108 Benchmark Drive | $2,665,000 | $2,950,000 | 9.6% | 4,037 | 4/3.5 | $660 | 90 |
| Address | Sold Price | Asking Price | % off Asking Price | SQ FT | Bedrooms/Baths | Price/S.F. | Days on Market |
| Elkstone, Unit 6 | $2,150,000 | $2,395,000 | 10.2% | 3,575 | 4/3.5 | $601 | 71 |
| Madeline Residences, Unit 633 | $2,650,000 | $2,699,900 | 1.8% | 3,313 | 4/4.5 | $799 | 298 |
| Centrum, Unit 401 | $1,940,000 | $2,100,000 | 7.6% | 3,338 | 4/4.5 | $581 | 1937 |
With global financial markets experiencing significant turbulence in January of 2016, money is beginning to flow back into hard assets. The Telluride region is fully zoned so no new large developments can increase inventory to detrimental levels. Come visit Telluride this winter and let me know how I can be of assistance in any facet of your Telluride experience!
Posted by Steve Cieciuch (Chet-chu) on
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