Through nine months of 2019, the Telluride Market as a whole is benefiting from an influx of late-Summer/early-Fall sales and contracts that bring
us up to just below the market levels of 2018 year-to-date. One especially encouraging segment of growth has been the Mountain Village homes
market, which has seen an influx of activity in the $1.5m-$7m range; 7 properties have sold this summer and another 6 are currently under contract
with 43 still available. Previous to this “bump”, the upper-end Mountain Village market has been a microcosm of the Telluride area: great product at
great values, but demand lagging slightly behind national and metropolitan markets. The exception here has been the strong demand for high-end
properties in downtown Telluride where…

There is a Jungian theory that posits that the first half of our lives is about establishing identity and ego, and the second half is about spirituality, going deeper into ourselves. It gets you thinking about life and skiing before and after 40, reminiscing about hammering zipper lines down Spiral Stairs that never end. Lap after breathless lap on the Gold Hill lift filled with seemingly bottomless powder on Dynamo. Or the sunlit, snowless days giggling in glee blazing down See Forever to Lookout to town. All expending muscle, stamina and joy gliding down the mountain.

[READ: Telluride Real Estate Activity Report, Q2 2019]

Maybe there’s a parallel to this Carl Jung stuff. Or, to put it in skiing terms, the first half of a skiing life might…

 

First quarter snowfall and real estate sales were robust with both coming close to setting record highs. San Miguel County real estate sales boasted the second highest dollar volume since 2007. While one might think this winter’s significant snowfall in comparison to last year translated into higher sales volume, the 2019 increase was a minimal 4% over 2018 in the first quarter. Thus, reaffirming that skiing is simply one of many lifestyle attributes that drive people’s motivation to buy in Telluride!

The Town of Telluride continues to drive the market with significant sales including an east end approved hotel site at $12,750,000, four single family homes ranging from $1,675,000 to $ 3,625,000 and a commercial/residential building at…

Despite the worst winter drought since 1976, San Miguel County real estate boasted its second best year since 2007 with $537.5M in total sales based on 499 transactions. Dwindling inventory in a variety of market sectors and trying to keep pace with the stellar year of 2017 contributed to a year-over-year decline of 13% in overall sales volume and 19% decrease in transaction volume. Homes in the Town of Telluride continued to be a hot market sector. Four bedroom homes ranging from $1,150,000 to $5,290,000 drew the most attention with 15 sales. A trend emerged that homes considered as projects with potential upside or new and remodeled homes finished to a high level were in greatest demand. Town of Telluride Condominiums showed continued strength, however,…

Overall, the Telluride real estate market remains in great shape, despite coming in below a record-setting 2017 in most metrics. Notably, the in-town market is seeing record highs in list and sale price per square foot. This trend is likely due to multiple factors including a higher absorption rate in town as a finite supply is met with a persistent shift towards walkability and in-town lifestyle. This pattern is not specific to Telluride, as many ski communities are seeing similar increases in value relative to the convenience of in-town lifestyles, including Aspen. Another contributing factor to the escalation of price-per-square-foot in town is the availability of high-end new construction inventory.

Mountain Village is enjoying a period of high…

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…

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…

San Miguel County Real Estate transaction volume remains strong as the third quarter finished up 3% compared to third quarter 2014. Over all dollar volume is down 24%, however, this is primarily attributable to a $40M sale that occurred in August of 2014 for the Hotel Madeline. Sans this sale, 2015 is right on track to match or exceed 2014, which was the biggest year in terms of dollar volume and transaction volume since the downturn in 2008.  

Total dollar volume through September 30th in 2015 was $346.9M compared to $383.9M in 2014, although September turned out to be the second biggest September in the last 6 years with $53.1M in recorded sales.

I anticipated that Mountain Village would see a surge of activity based on evidence of…

In my first quarter update for 2015 I stated that I was eager to see if 2015 would prove to buck a “W” recovery trend as 2014 was a significant crest year in the wave recovery that started in 2010. The 1st quarter of 2015 started 9% down in dollar volume and 2% down in transaction volume which was lending early support that 2015 could be a trough year.  I also stated that the “off season” consisting of the months of April and May were as busy as I could ever remember over my 28 year career.  It turns out that this busy time period for many in the brokerage community morphed into a significant amount of closings.  As a result, the 2nd quarter was up 1% in dollar volume and 5% in transaction volume despite competing against a record June of 2014 that…

The San Miguel County Real Estate Market has been experiencing a steady rebound since 2009, however the rebound has been a wave (“w”) recovery with 2014 being a crest year, in fact, the highest crest year since the rebound started.

It will be interesting to see if 2015 will be a trough year as it pertains to over-all dollar volume and transaction volume or will the “W” trend be bucked and are we in the throws of a steady upward trend?  First quarter results indicate a 9% decrease in dollar volume and a slight increase of 2% in transaction volume, however, anecdotally, this is the busiest “off-season” I have ever experienced. A significant amount of property is being shown and contracted since the closing of the ski area. This is quite atypical and…