Q2 REPORT Telluride Real Estate
2018
ACTIVITY
San Miguel County Overview 523
555
562
$621.1M
619 $507.1M
410
$461.8M $452.8M
$342.2M 225 YTD
2013
2014
2015
2016
2017
2018
# of Tr ansact i on s S an Mi g uel C ount y
5683 Last Dollar Road, Telluride - Offered at $1,290,000
$218.8M YTD
2013
2014
2015
2016
2017
Dol l ar Vo l u me San Mig uel C ount y
2018
Countywide, through the first half of 2018 the San Miguel County real estate market is taking a bit of a breather from the torrid, near-record-breaking pace of transactions of 2017, down 27% in number of transactions and down 18% in dollar volume, overall a sign of an appreciating market when viewed from a longer lens of historical data. Through 2nd quarter 2018 compared to first half of 2017, the town of Telluride and Mountain Village condo markets are both virtually flat. Single family home sales in town are down double digits as is the case in Mountain Village, Ski Ranches, Aldasoro and county-wide in general. Even fractional sales are down. However, more buyers are turning their attention to vacant land as those sales are even stronger than in 2017 in Telluride, Mountain Village and Aldasoro, with solid double digit increases in all three areas. As the case has been in the past, the Telluride region usually experiences a stair-step increase in real estates sales and number of transactions. Comparing the first half of 2018 to the first half of 2016 two years ago, 2018 is seeing 23% more dollar volume than 2016 while 2018 number of transactions is down 11% compared to 2016, again a sign of an appreciating market as families continue buy and inventory in select market segments continues to dwindle. Currently 50 properties in the county are under contract totaling $93.3m. Of those, two of the highest priced residential (non-commercial) properties are listed by Telluride Properties - a home asking $7.45m in Mountain Village and a penthouse at the Telluride Transfer in town asking $8 million. Telluride continues to garner attention with a recent accolade as the best small town in the USA to visit according to a recent issue of U.S. News and World Report. By Mike Shimkonis, Director
The information represented above is compiled from Telluride Consulting data ytd as of 6/30/18 and represents all sales in San Miguel County.
What’s Selling? Town of Tel luride Under Contract
Number Sold
Sold Price Range
Average Sold Price
Average % Off Asking $
3 Bedrooms
0
1
$2,085,115
$2,085,115
5%
4 Bedrooms
2
4
$2,350,000 - $4,000,000
$3,331,250
4%
5+ Bedrooms
0
2
$3,995,000 - $6,250,000
$5,122,500
13% Above
Studio & 1 Bedrooms
3
12
$160,000 - $700,000
$357,500
2%
2 Bedrooms
1
13
$536,000 - $1,525,000
$767,346
4%
3 Bedrooms
4
11
$815,000 - $2,780,000
$1,413,364
6%
4 Bedrooms
2
1
$2,100,000
$2,100,000
7%
5+ Bedrooms
2
2
$4,200,000 - $4,300,000
$4,250,000
1%
1
7
$185,000 - $3,200,000
$857,143
12%
Single Family Homes
Condominiums
Vacant Land All
The information represented above is compiled from the Telluride MLS and Telluride Consulting data ytd as of 6/30/2018, it includes the Idarado subdivision and excludes deedrestricted, commercial, & fractional properties.
ytd
$
2018
as of 6/30/2018 there have been 53 sales in Town of Telluride for a total dollar volume of $72,717,615.
Element 52 South 1B - Sold 3/12/2018 for $4,300,000 Listed & Sold by Telluride Properties
7
ďƒˆ13% compared to ytd 2017
7
#
ďƒˆ21% compared to ytd 2017
39
$25,655,115
$6,650,000
$40,412,500
HOMES
LAND
CONDOS
372 Pandora Lane, Idarado - Offered at $9,450,000
What’s For Sale? Town of Tel luride
Number Available
Asking Price Range
Average Asking Price
3 Bedrooms
13
$1,395,000 - $4,625,000
$2,821,154
4 Bedrooms
9
$1,595,000 - $6,995,000
$3,473,222
5+ Bedrooms
11
$3,200,000 - $9,450,000
$5,259,545
Studio & 1 Bedrooms
8
$170,000 - $655,000
$416,000
2 Bedrooms
16
$425,000 - $2,250,000
$1,072,206
3 Bedrooms
13
$749,000 - $3,950,000
$1,968,769
4 Bedrooms
15
$1,100,000 - $8,150,000
$3,550,267
5+ Bedrooms
9
$2,595,000 - $7,950,000
$5,282,778
17
$750,000 - $5,000,000
$2,249,941
Single Family Homes
Condominiums
Vacant Land All
The information represented above is compiled from Telluride MLS data ytd as of 6/30/2018, it includes the Idarado subdivision and excludes deed-restricted, commercial, & fractional properties.
What’s Selling? Mountain V il lage Under Contract
Number Sold
Sold Price Range
Average Sold Price
Average % Off Asking $
3 Bedrooms
0
0
--
--
--
4 Bedrooms
2
4
$2,473,000 - $3,850,000
$3,230,750
7%
5 Bedrooms
0
2
$2,250,000 - $4,300,000
$3,275,000
6%
6+ Bedrooms
1
4
$2,700,000 - $4,475,000
$3,818,750
6%
Studio & 1 Bedrooms
1
13
$140,000 - $970,000
$343,058
4%
2 Bedrooms
0
10
$223,400 - $1,346,000
$726,390
6%
3 Bedrooms
4
18
$475,000 - $2,250,000
$1,407,889
5%
4 Bedrooms
1
5
$1,446,500 - $2,455,000
$2,070,300
7%
5+ Bedrooms
1
3
$2,275,000 - $3,050,000
$2,651,667
4%
1
11
$155,000 - $3,800,000
$931,318
10%
Single Family Homes
Condominiums
Vacant Land All
The information represented above is compiled from the Telluride MLS and Telluride Consulting data ytd as of 6/30/2018, it excludes deed-restricted, commercial, & fractional properties.
ytd 2018
as of 6/30/2018 there have been 70 sales in Mountain Village for a total dollar volume of $99,864,650.
156 Polecat Lane - Sold 1/15/2018 for $3,850,000 Listed by Telluride Properties
$ 10
ďƒˆ8%
compared to ytd 2017
11
#
ďƒˆ1%
compared to ytd 2017
49
$34,748,000
$9,744,500
$55,372,150
HOMES
LAND
CONDOS
133 Victoria Drive, Mountain Village - Offered at $7,595,000
What’s For Sale? Mountain V il lage
Number Available
Asking Price Range
Average Asking Price
3 Bedrooms
6
$1,790,000 - $5,300,000
$3,329,167
4 Bedrooms
17
$1,575,000 - $7,295,000
$3,743,647
5 Bedrooms
24
$2,495,000 - $9,375,000
$5,060,938
6+ Bedrooms
16
$3,800,000 - $16,700,000
$8,126,563
Studio & 1 Bedrooms
8
$165,000 - $789,500
$450,563
2 Bedrooms
16
$404,000 - $1,750,000
$795,688
3 Bedrooms
17
$455,000 - $4,500,000
$1,601,265
4 Bedrooms
18
$800,000 - $5,600,000
$2,961,389
5+ Bedrooms
7
$1,200,000 - $4,500,000
$2,830,571
84
$195,000 - $6,950,000
$919,302
Single Family Homes
Condominiums
Vacant Land All
The information represented above is compiled from Telluride MLS data ytd as of 6/30/2018, it excludes deed-restricted, commercial, & fractional properties.
What’s Selling? Surround ing Areas Under Contract
Number Sold
Sold Price Range
Median Sold Price
Average % Off Asking $
Turkey Creek Mesa
2
4
$330,000 - $1,575,000
$1,275,000
8%
Deep Creek Mesa
0
8
$360,000 - $1,200,000
$755,000
6%
Down Valley
2
4
$235,000 - $950,000
$779,000
7%
Wilson Mesa
0
3
$262,000 - $4,725,000
$560,000
6%
Specie Mesa
0
1
$2,700,000
$2,700,000
14%
Hastings Mesa
2
3
$160,000 - $585,000
$230,000
7%
Iron Springs/Horsefly Mesa
0
4
$140,000 - $625,000
$400,000
9%
Ilium/Ames
0
0
--
--
--
Ophir
0
4
$183,100 - $300,000
$221,250
2%
(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 6/30/2018, it excludes deed-restricted, commercial, & fractional properties.
Lot 152 East Serapio Road, Aldasoro Ranch (Deep Creek Mesa) - Sold 2/4/2018 for $960,000 Listed by Telluride Properties
182 Quakey Lane, Ski Ranches (Turkey Creek Mesa) - Offered at $2,295,000
What’s For Sale? Surround ing Areas Number Available
Asking Price Range
Median Asking Price
Turkey Creek Mesa
28
$339,000 - $8,700,000
$1,401,000
Deep Creek Mesa
41
$449,000 - $29,500,000
$1,795,000
Down Valley
16
$95,000 - $4,500,000
$2,500,000
Wilson Mesa
27
$119,000 - $34,500,000
$680,000
Specie Mesa
19
$210,000 - $15,400,000
$575,000
Hastings Mesa
21
$119,500 - $3,800,000
$259,000
Iron Springs/Horsefly Mesa
51
$70,000 - $949,000
$665,000
Ilium/Ames
0
-
-
Ophir
6
$135,000 - $750,000
$347,500
(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 6/30/2018, it excludes deed-restricted , commercial, & fractional properties.
What’s $2M Look Like? Rocky M ount ain S k i R e s o r t C o m p a r i son
TELLURIDE
ASPEN
4,522 s.f. / 1 Acre / $2,100,000
1,632 s.f. / 0.1 Acres / $2,995,000
JACKSON HOLE
VA I L
2,168 s.f. / 5.5 Acres / $2,150,000
5,067 s.f. / 0.47 Acres / $2,250,000
The information above was gathered from realtor.com and represents properties for sale and their asking prices as of 6/30/18.
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Telluride Properties has participated in 27% of sales dollar volume in San Miguel County through June 2018, while only representing 12% of all Realtors in Telluride. 970.728.0808 tellurideproperties.com Telluride Office 237 S. Oak St. at the Telluride Gondola Mountain Village Office 560 Mountain Village Boulevard