Q2
ACTIVY
2022
TREPO
Plaza Penthouse 402, Mountain Village - Offered at $10,500,000
Summer is underway in Telluride, as the 4th of July marks the unofficial leap into the season. We’ve seen a lot of early monsoon rains this year, which is a great sign after a dry and windy spring. The San Juan high country is green and popping with wildflowers, creating the perfect backdrop for hiking and biking adventures. In the real estate world, despite the first decrease of overall dollar volume in recent history, average sales prices are still up 31% in San Miguel County (SMC). Still, it feels like we are on the cusp of a shift in the local market. Obviously, it’s hard to know exactly what that means, but here are the tea leaves we’re reading:
Inventory Continues To Be Low:
Down 50% in Telluride and 20%+ in SMC compared to last year, but this trend seems to be turning toward a slow increase in inventory levels.
List-To-Sold Price Ratio Is Historically High:
98% in SMC and over 97% in Telluride – these numbers really can’t go much higher, so it’s now a question of how long sellers will retain this negotiating “power”. We have started to see some price reductions on properties where lofty goals are being met with reality, but even when this trend starts to drop, it will take time for buyers to truly have any upper hand in negotiations (keep in mind this is an average statistic and each buyer, seller and transaction have its own dynamics). Understand that de-escalation does not equal depreciation. The vast majority of Telluride-area Sellers can be patient in a re-stabilizing market where their property sits on the market for longer than 30 days.
High-End Sales & Prices Per Square Foot Are Still Up:
Sales over $5m are up 19% year-to-year. There have been 7 sales over $10m compared to 4 last year and there are 3 more homes pending over $10m. With 7 properties selling for over $2,500/sf year-to-date, 1 over $3,000/sf, and several more over $3,000/sf under contract – the market is still appreciating and being made almost monthly. Pay attention to the granular market trends – some neighborhoods have little or no listing inventory, it’s hard to price properties and understand absorption rates when there isn’t inventory to compare to. Mountain Village remains a tremendous value in relation to Town as it tops out at just over $2,000/sf and Town at over $3,000/sf. Prices have not peaked in this cycle based on pending sales. It is impossible to know when they might peak, but it’s also very clear there are increasing macroeconomic headwinds (never mind the unsustainable percentage price increases over a long period of time).
The historical and current market statistics and trends are powerful information if you truly understand them and how to apply them. Let this knowledge inform you to make the best decisions possible today. As always, the best time to invest in Telluride is when it is right for you and your family. The memories you create will begin immediately and the Telluride market as a whole has been reliably appreciating over the past 30+ years.
#
$
29% compared to 2021 ytd
7% compared to 2021 ytd
$1.42B
$1.16B
944 814
619
$639.69M ytd
$621.1M 499
540
$537.5M
$594.3M
338 ytd
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
Lot 7, Grey Wolf Lane, West Meadows - Offered at $5,600,000 The information represented above is compiled from Telluride Consulting data ytd as of 6/30/22 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
8
$1,450,000 - $6,950,000
$3,700,029
0%
4 Bedrooms
2
4
$3,500,000 - $9,950,000
$5,275,000
2%
5+ Bedrooms
2
3
$4,500,000 - $8,960,000
$7,850,000
2%
Studio & 1 Bedrooms
4
19
$345,000 - $1,400,000
$912,500
1%
2 Bedrooms
1
11
$575,000 - $3,355,000
$1,625,000
2%
3 Bedrooms
1
10
$2,100,000 - $5,900,000
$2,459,167
1%
4 Bedrooms
2
2
$6,250,000 - $12,500,000*
$9,375,000
5%
5+ Bedrooms
--
--
--
--
--
2
6
$1,300,000 - $3,400,000
$2,250,000
5%
Single Family Homes
Condominiums
Vacant Land All
*the offering for $12,500,000 included commercial space.
The information represented above is compiled from the Telluride MLS ytd as of 6/30/22 and includes the Idarado Subdivision & Valley Floor. It excludes deed-restricted, commercial, & fractional properties.
2022 as of 6/30/2022 there have been 63 sales in the Town of Telluride for a total dollar volume of $177,678,891.
$ 15
14% compared to ytd 2021
6
#
Ç
29%
compared to ytd 2021
42
$74,445,058
$13,500,000
$89,733,833
HOMES
LAND
CONDOS
209 East Colorado Avenue, Town of Telluride - Sold 4/8/22 for $12,500,000 Listed & Sold by Telluride Properties
Town of Tel luride Number Available
Asking Price Range
Median Asking Price
2-3 Bedrooms
3
$4,150,000 - $4,950,000
$4,900,000
4 Bedrooms
8
$2,397,000 - $12,000,000
$8,747,500
5+ Bedrooms
9
$8,250,000 - $23,000,000
$12,500,000
Studio & 1 Bedrooms
9
$665,000 - $2,095,000
$925,000
2 Bedrooms
6
$1,725,000 - $2,900,000
$1,827,500
3 Bedrooms
4
$900,000 - $5,100,000
$4,112,500
4 Bedrooms
3
$4,595,000 - $6,495,000
$6,250,000
5+ Bedrooms
1
$13,000,000*
--
7
$749,000 - $1,650,000
$2,690,000
Single Family Homes
Condominiums
Vacant Land All
*the offering for $13,000,000 includes commercial space.
The information represented above is compiled from the Telluride MLS ytd as of 6/30/22 and includes the Idarado Subdivision & Valley Floor. It excludes deed-restricted, commercial, & fractional properties.
430 Pandora Lane, Idarado - Offered at $12,000,000
Mountain V il lage Under Contract
Number Sold
Sold Price Range
Median Sold Price
Median % Off Asking $
3 Bedrooms
--
2
$4,946,200 - $6,500,000
$5,723,100
1%
4 Bedrooms
1
4
$2,495,000 - $6,700,000
$4,997,500
1%
5 Bedrooms
4
3
$4,800,000 - $10,750,000
$7,300,000
2%
6+ Bedrooms
2
7
$3,946,500 - $17,100,000
$6,995,000
2%
Studio & 1 Bedrooms
--
14
$270,000 - $1,998,000
$776,250
0%
2 Bedrooms
1
12
$640,000 - $2,525,000
$1,120,000
1%
3 Bedrooms
1
13
$1,150,000 - $3,765,000
$2,595,000
0%
4 Bedrooms
3
6
$2,750,000 - $5,875,000
$3,847,500
0%
5+ Bedrooms
--
3
$3,795,000 - $5,450,000
$5,350,000
4%
1
16
$459,000 - $2,700,000
$1,325,000
5%
Single Family Homes
Condominiums
Vacant Land All
The information represented above is compiled from the Telluride MLS ytd as of 6/30/22, it excludes deed-restricted, commercial, & fractional properties.
2022 as of 6/30/2022 there have been 80 sales in Mountain Village for a total dollar volume of $228,352,100.
$ 16
15%
compared to ytd 2021
16
#
47%
compared to ytd 2021
48
$109,627,700
$22,233,000
$96,491,400
HOMES
LAND
CONDOS
Cassidy Ridge C302, Mountain Village - Sold 5/3/2022 for $4,750,000 Listed & Sold by Telluride Properties
Mountain V il lage Number Available
Asking Price Range
Median Asking Price
3 Bedrooms
--
--
--
4 Bedrooms
--
--
--
5 Bedrooms
4
$8,495,000 - $15,950,000
$10,425,000
6+ Bedrooms
8
$8,995,000 - $34,500,000*
$11,597,500
Studio & 1 Bedrooms
7
$375,000 - $895,000
$425,000
2 Bedrooms
2
$895,000 - $2,450,000
$1,672,500
3 Bedrooms
3
$1,380,000 - $5,200,000
$3,900,000
4 Bedrooms
10
$2,495,000 - $10,500,000
$4,435,000
5+ Bedrooms
1
$7,950,000
--
28
$600,000 - $4,750,000
$1,997,500
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 6/30/22, it excludes deed-restricted, commercial, & fractional properties.
102 Tristant Drive, Mountain Village - Offered at $3,989,000
Surround ing Areas Under Contract
Number Sold
Sold Price Range
Median Sold Price
Median % Off Asking $
Turkey Creek Mesa
1
12
$585,000 - $14,000,000
$1,937,500
1%
Deep Creek Mesa
1
6
$910,000 - $4,800,000
$2,048,750
3%
Down Valley
--
2
$980,000 - $1,400,000
$1,190,000
3%
Wilson Mesa
2
11
$400,000 - $15,000,000
$1,682,500
4%
Specie Mesa
2
5
$1,050,000 - $32,000,000
$2,000,000
7%
Hastings Mesa
1
7
$350,000 - $1,485,000
$825,000
1%
Iron Springs/Horsefly Mesa
1
14
$210,000 - $8,550,000
$409,000
5%
Ilium/Ames
--
--
--
--
--
Ophir
1
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 6/30/22, it excludes deed-restricted, commercial, & fractional properties. It includes homes and land.
6800 CR 60M, Wilson Mesa - Sold 4/22/22 for $7,150,000 Listed by Telluride Properties
Surround ing Areas Number Available
Asking Price Range
Median Asking Price
Turkey Creek Mesa
7
$1,280,000 - $23,950,000
$5,100,000
Deep Creek Mesa
14
$1,675,000 - $22,900,000
$9,025,000
Down Valley
--
--
--
Wilson Mesa
2
$1,670,000 - $2,150,000
$1,910,000
Specie Mesa
6
$395,000 - $3,250,000
$1,873,000
Hastings Mesa
9
$225,000 - $9,600,000
$2,150,000
Iron Springs/Horsefly Mesa
14
$200,000 - $6,395,000
$460,000
Ilium/Ames
2
$995,000 - $1,250,000
$1,122,500
Ophir
1
$2,175,000
--
(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 6/30/22, it excludes deed-restricted, commercial, & fractional properties. It includes homes and land.
Opus Hut - Ophir/Silverton - Offered at $4,500,000
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