Telluride MARKET UPDATE

With some of Colorado’s most gorgeous views, including Bridal Veil Falls and the box canyon surrounding this historic mining town, Telluride offers an escape to nature, outdoor recreation, and a charming downtown area with local shops and restaurants.

San Miguel County has seen a normalization in the real estate market following the extremely high sales volume throughout 2020-2021. County-wide sold prices and price per square foot increased, but overall sales volume declined. In the first quarter of 2023, the Town of Telluride had an average sold price for all properties of $3,500,637 which was a 1% increase over 2022. The average price per square foot dipped 2.1% from $1,802 to $1,764. Mountain Village saw a healthy 16.5% jump in average sold price from $3,331,270 to $3,881,500 as demand stayed strong for that area. The average price per square foot for Mountain Village also rose 8.8% from $1,166 to $1,268.

The San Juan Mountains feature an array of peaks soaring over 13,000 and 14,000 feet, and mountains that beckon visitors for hiking, skiing, and 4x4 adventures. Combined with Telluride’s historical architecture and remote location in Southwestern Colorado, this area continues to attract visitors and homebuyers who are searching for a unique destination.

San Miguel County

8.3%

The average sold price for single family homes in the Town of Telluride decreased by 8.3% January through March 2023 compared to that of 2022.

The historic Town of Telluride , designated as a National Historic Landmark District in 1964, is near the end of a picturesque box canyon surrounded by incredible 13,000 and 14,000-foot peaks. Just 12 blocks long by eight blocks wide, the town is a menagerie of colorful Victorian homes, superb restaurants, historic buildings, and independent boutiques, galleries and outfitters.

32.0%

The average days on the market of single family homes in Mountain Village decreased by 32.0% January through March 2023 compared to that of 2022.

Founded in 1986 and incorporated in 1995, the Town of Mountain Village was inspired by modern ski villages in Europe with cobblestone plazas, European architectural accents and a mix of residential and commercial structures. At over 9,500 feet in elevation, the town sits on the north end of sunny Turkey Creek Mesa and consists of over 2,100 acres of land.

The average price per square foot for all residential properties in Surrounding Mesas decreased by 10.5% January through March 2023 compared that of 2022.

The Town of Norwood, about a 40-minute drive from Telluride, is located on a western plateau and is primarily agricultural in nature featuring ranch lands, cattle and other livestock operations. Outdoor activities are plentiful, with no shortage of options for hunting, shing, hiking and mountain biking nearby.

The average sold price for all residential properties in Ridgway increased by 16.4% January through March 2023 compared to that of 2022.

A 45-minute drive north of Telluride, and set in the beautiful Uncompahgre Valley, is the Town of Ridgway. Often referred to as the “Gateway to the San Juans,” Ridgway is a close-knit community with a picture-perfect downtown as well as several outlying subdivisions and the expansive Log Hill Mesa.