Q1 REPORT 2022
ACTIVITY
430 Pandora Lane, Idarado - Offered at $12,000,000
As we parse through 2022’s first quarter data here at Telluride Properties, we find that most resort markets have seen a decline in the number of sales year-over-year due to a lack of inventory but mixed results for dollar volume of sales. While a few markets such as Jackson Hole may be experiencing dollar volume declines, significant dollar volume increases are still happening in Telluride, Big Sky and Aspen (while the Hamptons remain steady). This may indicate a change as we emerge from the pandemic, where radically low inventories are our own “new normal” (only 5 homes currently available in Telluride and 9 in Mountain Village), causing an overall decline in sales volume while values in these areas continue to rise significantly; median prices in these markets have sailed 13-51% over the past year. In the first quarter, Telluride homes and condos garnered record average prices per square foot at $2,127 and $1,897 respectively, while Mountain Village also reached all-time highs of $1,136 and $1,102. As new properties come to the market listed at 10-20% above previous sales, we have begun to see longer Days on Market, particularly in Mountain Village, perhaps indicating a shift towards a more typical supply/demand balance at the market’s new level. Nonetheless, as price resistance creeps in, buyers are discovering that the rental market is very thin and quite expensive, drawing them back to purchasing. As challenging as it all may seem, Telluride Properties continues to find opportunities, on-market and off-market properties, for our buyer clients who understand the market and act swiftly when advised. Conversely, we are regularly asked, “Is this the height of the market and the right time to sell?”. Sure, it may be a good time to sell if you are looking to leave and put your money elsewhere, but this is not the height of the market. If you are a seller wanting to take advantage of this market, pricing is paramount to success. Everyone wants to garner as much money as possible, but pricing too far ahead of the market can undermine your value over time. Telluride Properties brokers as a whole are hyper-focused on this nuance and can advise you on how best to price your property. Telluride remains a top destination to invest in a special lifestyle while hedging inflation and enjoying financial appreciation. While Telluride is certainly maturing into a high-end resort, it still is, and always will be, a town with a lot of soul and that is what drives this market.
#
$
23% compared to 2021
Ç17% compared to 2021 $1.42B
$1.16B
944 814
619
$621.1M 499
540
$537.5M
$594.3M
$335.5M
169
2017
2018
2019
2020
2021
2022
# of Tr ans act i ons San Mi g u e l Count y
2017
2018
2019
2020
2021
2022
Dol l ar Vo l u me San Miguel C ount y
Tract 47 Wilson Mesa Ranch Circle, Wilson Mesa - Offered at $460,000 The information represented above is compiled from Telluride Consulting data ytd as of 3/31/22 and represents all sales in San Miguel County.
Town of Tel luride Under Contract
Number Sold
Sold Price Range
Median Sold Price
Median % Off Asking $
2-3 Bedrooms
2
2
$1,450,000 - $4,050,000
$2,750,000
2%
4 Bedrooms
3
2
$6,650,000 - $9,950,000
$8,300,000
2%
5+ Bedrooms
2
3
$4,500,000 - $8,960,000
$7,850,000
2%
Studio & 1 Bedrooms
4
9
$345,000 - $1,400,000
$1,085,000
0%
2 Bedrooms
3
8
$1,398,000 - $3,355,000
$1,687,500
0%
3 Bedrooms
4
4
$2,175,000 - $5,900,000
$4,972,500
1%
4 Bedrooms
2
--
--
--
--
5+ Bedrooms
0
--
--
--
--
5
2
$1,800,000 - $2,100,000
$1,950,000
0%
Single Family Homes
Condominiums
Vacant Land All
The information represented above is compiled from the Telluride MLS ytd as of 3/31/22 and includes the Idarado Subdivision & Valley Floor. It excludes deed-restricted, commercial, & fractional properties.
$
2022 as of 3/31/2022 there have been 30 sales in the Town of Telluride for a total dollar volume of $90,016,000.
7
57% compared to ytd 2021
2
#
Ç
9%
compared to ytd 2021
21
$43,410,000
$3,900,000
$42,706,000
HOMES
LAND
CONDOS
233 South Oak Street, Town of Telluride - Sold 2/8/22 for $9,950,000 Listed & Sold by Telluride Properties
Town of Tel luride Number Available
Asking Price Range
Median Asking Price
2-3 Bedrooms
1
$4,950,000
--
4 Bedrooms
3
$4,850,000 - $12,000,000
$9,000,000
5+ Bedrooms
4
$10,347,000 - $23,000,000
$17,225,000
Studio & 1 Bedrooms
7
$639,000 - $1,395,000
$800,000
2 Bedrooms
5
$1,500,000 - $1,800,000
$1,725,000
3 Bedrooms
4
$3,100,000 - $4,950,000
$4,197,500
4 Bedrooms
4
$3,200,000 - $6,495,000
$6,000,000
5+ Bedrooms
2
$10,225,000* - $13,000,000*
$11,612,500
7
$749,000 - $3,500,000
$3,495,000
Single Family Homes
Condominiums
Vacant Land All
*the offering for $10,225,000 includes 2 units. the offering for $13,000,000 includes commercial space.
The information represented above is compiled from the Telluride MLS ytd as of 3/31/22 and includes the Idarado Subdivision & Valley Floor. It excludes deed-restricted, commercial, & fractional properties.
517 Curtis Drive, Lot 5R, Town of Telluride - Offered at $3,495,000
Mountain V il lage Under Contract
Number Sold
Sold Price Range
Median Sold Price
Median % Off Asking $
3 Bedrooms
1
--
--
--
--
4 Bedrooms
1
3
$2,495,000 - $6,100,000
$3,895,000
0%
5 Bedrooms
2
2
$7,300,000 - $10,750,000
$9,025,000
2%
6+ Bedrooms
4
5
$3,496,500 - $10,750,000
$5,800,000
2%
Studio & 1 Bedrooms
3
8
$270,000 - $1,998,000
$843,750
0%
2 Bedrooms
2
7
$640,000 - $2,525,000
$960,000
0%
3 Bedrooms
4
10
$1,150,000 - $3,765,000
$2,575,000
0%
4 Bedrooms
4
3
$2,750,000 - $5,875,000
$3,900,000
2%
5+ Bedrooms
2
--
--
--
--
5
9
$459,000 - $1,850,000
$875,000
2%
Single Family Homes
Condominiums
Vacant Land All
The information represented above is compiled from the Telluride MLS ytd as of 3/31/22, it excludes deed-restricted, commercial, & fractional properties.
2022 as of 3/31/2022 there have been 47 sales in Mountain Village for a total dollar volume of $122,399,900.
$ 10
10%
compared to ytd 2021
9
#
41%
compared to ytd 2021
28
$62,481,500
$8,963,000
$50,955,400
HOMES
LAND
CONDOS
Cassidy Ridge D401, Mountain Village - Sold 2/17/2022 for $5,875,000 Listed by Telluride Properties
Mountain V il lage Number Available
Asking Price Range
Median Asking Price
3 Bedrooms
--
--
--
4 Bedrooms
--
--
--
5 Bedrooms
4
$8,900,000 - $16,000,000
$10,625,000
6+ Bedrooms
7
$8,995,000 - $34,500,000*
$11,995,000
Studio & 1 Bedrooms
3
$385,000 - $525,000
$400,000
2 Bedrooms
--
--
--
3 Bedrooms
--
--
--
4 Bedrooms
4
$4,275,000 - $6,975,000
$4,875,000
5+ Bedrooms
1
$5,700,000
--
21
$1,250,000
$2,500,000
Single Family Homes
Condominiums
Vacant Land All
*the offering for $34,500,000 includes 2 homes.
The information represented above is compiled from Telluride MLS data ytd as of 3/31/22, it excludes deed-restricted, commercial, & fractional properties.
112 Snowfield Drive, Mountain Village - Offered at $11,200,000
Surround ing Areas Under Contract
Number Sold
Sold Price Range
Median Sold Price
Median % Off Asking $
Turkey Creek Mesa
2
8
$585,000 - $14,000,000
$1,350,000
1%
Deep Creek Mesa
1
3
$1,070,000 - $4,639,175
$1,700,000
3%
Down Valley
1
1
$1,250,000
--
10%
Wilson Mesa
6
4
$1,682,500 - $15,000,000
$3,100,000
3%
Specie Mesa
1
3
$1,955,000 - $32,000,000
$3,030,000
2%
Hastings Mesa
1
4
$400,000 - $1,295,000
$690,343
6%
Iron Springs/Horsefly Mesa
4
4
$449,000 - $8,550,000
$2,297,500
4%
Ilium/Ames
--
--
--
--
--
Ophir
--
3
$241,000 - $365,000
$250,000
0%
(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 3/31/22, it excludes deed-restricted, commercial, & fractional properties. It includes homes and land.
140 West Serapio Drive, Deep Creek Mesa - Sold 10/8/21 for $4,639,175 Sold by Telluride Properties
Surround ing Areas Number Available
Asking Price Range
Median Asking Price
Turkey Creek Mesa
2
$3,500,000 - $21,500,000
$12,500,000
Deep Creek Mesa
8
$1,675,000 - $26,000,000
$10,223,500
Down Valley
1
$99,000
--
Wilson Mesa
1
$460,000
--
Specie Mesa
5
$595,000 - $3,250,000
$1,346,000
Hastings Mesa
9
$230,000 - $48,000,000
$1,125,000
Iron Springs/Horsefly Mesa
14
$220,000 - $6,395,000
$560,000
Ilium/Ames
1
$995,000 - $1,495,000
$1,245,000
Ophir
0
--
--
(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 3/31/22, it excludes deed-restricted, commercial, & fractional properties. It includes homes and land.
215 East Serapio - Deep Creek Mesa - Offered at $2,100,000
970.728.0808 tellurideproperties.com Telluride Offices 237 S. Oak St. at the Telluride Gondola 220 E. Colorado Avenue #102 Mountain Village Office 560 Mountain Village Boulevard, Ste. 103