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 supply, with many incredible opportunities for buyers to purchase homes with views, space, world-class ski access, or any combination of the three. While not as walkable as town, Mountain Village homeowners have the unique advantage of a free gondola, making a careless commute from a Mountain Village home to the shops and restaurants of Telluride a convenient reality unmatched by any other ski community. Given Auberge Resorts’ investments in the Madeline, development plans for the ski area from CEO Bill Jensen, the recent purchase of Lot 126 for a branded high-end hotel/condo/chalet product, and the pending purchase of Lot 161 near the Peaks to welcome a new branded very high end hotel and residence, it’s not outside the realm of possibility to see an increase in demand in Mountain Village in the near future. The insightful Buyer could take advantage of some tremendous opportunities if they were to move before that shift.
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Telluride Properties has participated in 29% of sales dollar volume in San Miguel County through September 2018, while only representing 12% of all Realtors in Telluride.