Q1 REPORT Telluride Real Estate
2021
ACTIVITY
137 Hood Park Road, Mountain Village - Offered at $36,800,000
Telluride has clearly felt the real estate frenzy ignited by the pandemic. Inventory has hit 30 year lows as evidenced by only 16 homes and condos available for purchase in Downtown Telluride. This does not mean that Town is dramatically changing or that the market does not still have opportunity. Like-minded people still choose Telluride for its sense of community and small town living. An interesting spin-off from this influx of new people is an increase in intellectual diversity that has lead to more collaboration on many fronts including arts, science, economics and more. This next era may lead to a more diversified regional economy, sophistication and global idea exchange. San Miguel County real estate sales saw the largest 1st quarter in history, with a dollar volume increase of 136% over the last 5 year average. With 4 sales over $9.5m in the last 12 months and 3 more pending at $14-39m, the $10m benchmark has become more common. Tom Cruise was asking $39m for his home that is now under contract and represents a new class of sales, as many owners who have heavily invested in the Telluride lifestyle recognize that they too will see appreciation. Less expensive properties regularly come to market but do not last long, we advise that buyers be prepared to move quickly when they do. Recently, a notable pair of developers signed a contract to develop a Four Seasons Hotel in Mountain Village. It will take some time to clear due diligence and become fully entitled in order to break ground, but this is very exciting news. This added inventory along with the Hotel Colorado in town and a handful of other new projects promise to aid the inventory shortage. As summer nears, we anticipate a continued strong interest in Telluride. The availability of vacation rentals will be lessened from high demand and the tight real estate market. We recommend that summer visitors cement their plans and reservations quickly for everything including dinner reservations, guides, home rentals, chefs, camps, etc...and we are here to help if needed.
San Miguel County Overview #
$
Ç78% compared to 2020
Ç89% compared to 2020
$1.16B
814 ytd
562
$621.1M
619 499
540
$537.5M
$594.3M
$452.8M $287.67M ytd 219
2016
2017
2018
2019
2020
2021
# of Tr ans act i ons San Mi g u e l Count y
2016
2017
2018
2019
2020
2021
Dol l ar Vo l u me San Miguel C ount y
Ruby Lake Ranch, Silverton - Offered at $1,250,000 The information represented above is compiled from Telluride Consulting data ytd as of 3/31/2021 and represents all sales in San Miguel County.
What’s Selling? Town of Tel luride Under Contract
Number Sold
Sold Price Range
Median Sold Price
Median % Off Asking $
2-3 Bedrooms
5
1
$1,650,000
--
0%
4 Bedrooms
2
2
$1,230,000 - $2,290,000
$1,760,000
1% over
5+ Bedrooms
1
3
$5,600,000 - $9,500,000
$6,050,000
5%
Studio & 1 Bedrooms
1
4
$445,000 - $1,000,000
$497,500
1%
2 Bedrooms
4
9
$559,000 - $2,400,000
$925,000
2%
3 Bedrooms
3
7
$1,001,000 - $1,790,000
$1,350,000
2%
4 Bedrooms
2
1
$2,003,500
--
4%
5+ Bedrooms
0
0
--
--
--
6
5
$675,000 - $2,300,000
$850,000
4.1%
Single Family Homes
Condominiums
Vacant Land All
The information represented above is compiled from the Telluride MLS ytd as of 3/31/2021 and includes the Idarado subdivision & Valley Floor. It excludes deed-restricted, commercial, & fractional properties.
ytd
$
2021
as of 3/31/2021 there have been 32 sales in the Town of Telluride for a total dollar volume of $56,473,500.
6
41% compared to ytd 2020
5
#
11% compared to ytd 2020
21
$26,320,000
$6,091,000
$24,062,500
HOMES
LAND
CONDOS
425 East Galena Avenue, Town of Telluride - Sold 3/30/21 for $9,500,000 Listed & Sold by Telluride Properties
What’s For Sale? Town of Tel luride Number Available
Asking Price Range
Median Asking Price
2-3 Bedrooms
4
$1,998,000 - $5,999,999
$2,697,500
4 Bedrooms
2
$4,050,000 - $18,000,000
$11,025,000
5+ Bedrooms
1
$3,375,000
--
Studio & 1 Bedrooms
0
--
--
2 Bedrooms
3
$1,399,000 - $2,995,000
$1,825,000
3 Bedrooms
3
$2,150,000 - $6,000,000
$4,750,000
4 Bedrooms
0
--
--
5+ Bedrooms
2*
$9,600,000 - $14,795,000
$12,197,500
4
$749,000 - $3,300,000
$1,845,000
Single Family Homes
Condominiums
Vacant Land All
*These 2 offerings represent a combination of multiple units.
The information represented above is compiled from the Telluride MLS ytd as of 3/31/2021 and includes the Idarado subdivision & Valley Floor. It excludes deed-restricted, commercial, & fractional properties.
Rivercrown 1, Town of Telluride - Offered at $6,000,000
What’s Selling? Mountain V il lage Under Contract
Number Sold
Sold Price Range
Median Sold Price
Median % Off Asking $
3 Bedrooms
0
2
$1,900,000 - $2,700,000
$2,300,000
3%
4 Bedrooms
1
3
$3,512,500 - $4,800,000
$3,650,000
4%
5 Bedrooms
0
4
$3,895,000 - $4,875,000
$4,027,575
1%
6+ Bedrooms
5
4
$6,500,000 - $7,795,000
$7,200,000
6%
Studio & 1 Bedrooms
4
16
$149,800 - $860,000
$382,250
1%
2 Bedrooms
3
12
$530,000 - $2,275,000
$1,002,5000
4%
3 Bedrooms
1
8
$711,500 - $2,900,000
$2,102,500
0%
4 Bedrooms
1
4
$2,050,000 - $5,750,000
$2,750,000
7%
5+ Bedrooms
1
4
$2,180,000 - $2,950,000
$2,707,500
2.2%
9
22
$260,000 - $1,500,000
$590,000
5%
Single Family Homes
Condominiums
Vacant Land All
The information represented above is compiled from the Telluride MLS ytd as of 3/31/2021, it excludes deed-restricted, commercial, & fractional properties.
ytd 2021
as of 3/31/2021 there have been 79 sales in Mountain Village for a total dollar volume of $135,503,338.
$ 13
Ç173% compared to ytd 2020
22
#
Ç295% compared to ytd 2020
44
$62,082,650
$13,593,888
$59,645,800
HOMES
LAND
CONDOS
114 Autumn Lane, Mountain Village - Sold 3/23/2021 for $6,500,000 Sold by Telluride Properties
What’s For Sale? Mountain V il lage Number Available
Asking Price Range
Median Asking Price
3 Bedrooms
0
--
--
4 Bedrooms
4
$2,975,000 - $6,750,000
$3,474,500
5 Bedrooms
3
$5,950,000 - $7,950,000
$6,850,000
6+ Bedrooms
6
$3,500,000 - $36,800,000
$6,772,500
Studio & 1 Bedrooms
4
$199,000 - $995,000
$535,000
2 Bedrooms
4
$824,000 - $1,650,000
$1,347,000
3 Bedrooms
3
$1,695,000 - $3,050,000
$2,200,000
4 Bedrooms
5
$1,200,000 - $3,750,000
$3,275,000
5+ Bedrooms
2
$2,975,000 - $8,400,000
$5,687,500
21
$475,000 - $9,750,000
$1,695,000
Single Family Homes
Condominiums
Vacant Land All
The information represented above is compiled from Telluride MLS data ytd as of 3/31/2021, it excludes deed-restricted, commercial, & fractional properties.
Telemark Tower, Mountain Village - Offered at $8,400,000
What’s Selling? Surround ing Areas Under Contract
Number Sold
Sold Price Range
Median Sold Price
Median % Off Asking $
Turkey Creek Mesa
3
9
$349,000 - $6,222,500
$1,900,000
3%
Deep Creek Mesa
5
13
$395,000 - $4,570,000
$850,000
3%
Down Valley
0
0
--
--
--
Wilson Mesa
0
5
$409,000 - $5,325,000
$750,000
3%
Specie Mesa
0
2
$250,000 - $700,000
$475,000
10%
Hastings Mesa
1
6
$95,000 - $855,000
$243,250
3%
Iron Springs/Horsefly Mesa
2
8
$108,000 - $1,650,000
$390,000
6%
Ilium/Ames
0
1
$3,600,000
--
0%
Ophir
1
3
$155,000 - $240,000
$178,000
4%
(Turkey Creek Mesa) Alta Lakes, Elk Run, Preserve, Raspberry Patch, Ski Ranches, Skyfield, and West Meadows (Deep Creek Mesa) Aldasoro Ranch, Deep Creek Ranches, Diamond Ranch, Falls at Telluride, Golden Ledge, Gray Head, Last Dollar, Meadows at Deep Creek, Redtail Estates, and Sunnyside Ranch (Down Valley) Fall Creek, Sawpit, Placerville, Placervalley Village, Redcliff Estates, Shadohoochi Hill (Wilson Mesa) Elk Creek Reserve, Muddy Creek Meadows, Ptarmigan Ranch, and Wilson Mesa Ranches (Specie Mesa) Estate Ranches, Great American, Little Cone Ranch, Peninsula Park, Peninsula Pines, Peninsula Point, Specie Mesa Ranch, Specie Wilderness, The Peninsula, and Top of the World (Hastings Mesa) Alder Canyon Ranches, Beaver Pond, Cradle Park Ranches, Finnegan Ranch, Hastings Mesa Estates, Last Dollar Tracts, Little Lake Ranches, Old Elam Ranch, Pleasant View, San Juan Vista, Telluride Pines, and Willmeng Springs (Iron Springs/Horsefly Mesa) Anderson Ranch, Big Valley Ranch, The Bluffs, Brown Ranch, Canyon Creek Ranch, Colt Meadows Ranch, Cornerstone, Dancing Bear Ranch, Eagle Ridge Ranch, Elks Summit, Frontier, Golden Bear Ranch, Gracie Sky Mountain Ranch, Lakes at Carstens Ranch, McKenzie Spring Ranch, Panorama Acres, Rosorado, and San Juan Ranch (Ilium/Ames) Ptarmigan at Ilium, Lake Fork Junction, and South Fork Estates
The information represented above is compiled from Telluride MLS data ytd as of 3/31/2021, it excludes deed-restricted, commercial, & fractional properties.
175 Raspberry Patch Road, Turkey Creek Mesa - Sold 1/21/21 for $6,222,500 Listed by Telluride Properties
What’s For Sale? Surround ing Areas Number Available
Asking Price Range
Median Asking Price
Turkey Creek Mesa
2
$895,000 - $14,950,000
$7,922,500
Deep Creek Mesa
14
$649,000 - $27,000,000
$5,150,000
Down Valley
3
$99,000 - $1,250,000
$249,900
Wilson Mesa
6
$169,000 - $24,500,000
$1,349,500
Specie Mesa
14
$210,000 - $35,000,000
$797,500
Hastings Mesa
11
$220,000 - $9,900,000
$1,299,000
Iron Springs/Horsefly Mesa
32
$219,000 - $2,800,000
$350,000
Ilium/Ames
2
$1,325,000 - $1,850,000
$1,587,500
Ophir
1
$925,000
--
(Turkey Creek Mesa) Alta Lakes, Elk Run, Preserve, Raspberry Patch, Ski Ranches, Skyfield, and West Meadows (Deep Creek Mesa) Aldasoro Ranch, Deep Creek Ranches, Diamond Ranch, Falls at Telluride, Golden Ledge, Gray Head, Last Dollar, Meadows at Deep Creek, Redtail Estates, and Sunnyside Ranch (Down Valley) Fall Creek, Sawpit, Placerville, Placervalley Village, Redcliff Estates, Shadohoochi Hill (Wilson Mesa) Elk Creek Reserve, Muddy Creek Meadows, Ptarmigan Ranch, and Wilson Mesa Ranches (Specie Mesa) Estate Ranches, Great American, Little Cone Ranch, Peninsula Park, Peninsula Pines, Peninsula Point, Specie Mesa Ranch, Specie Wilderness, The Peninsula, and Top of the World (Hastings Mesa) Alder Canyon Ranches, Beaver Pond, Cradle Park Ranches, Finnegan Ranch, Hastings Mesa Estates, Last Dollar Tracts, Little Lake Ranches, Old Elam Ranch, Pleasant View, San Juan Vista, Telluride Pines, and Willmeng Springs (Iron Springs/Horsefly Mesa) Anderson Ranch, Big Valley Ranch, The Bluffs, Brown Ranch, Canyon Creek Ranch, Colt Meadows Ranch, Cornerstone, Dancing Bear Ranch, Eagle Ridge Ranch, Elks Summit, Frontier, Golden Bear Ranch, Gracie Sky Mountain Ranch, Lakes at Carstens Ranch, McKenzie Spring Ranch, Panorama Acres, Rosorado, and San Juan Ranch (Ilium/Ames) Ptarmigan at Ilium, Lake Fork Junction, and South Fork Estates
The information represented above is compiled from Telluride MLS data ytd as of 3/31/2021, it excludes deed-restricted, commercial, & fractional properties.
8091 Preserve Drive- Offered at $9,474,000
970.728.0808 tellurideproperties.com Telluride Office 237 S. Oak St. at the Telluride Gondola Mountain Village Office 560 Mountain Village Boulevard, Ste. 103