Q3 REPORT Telluride Real Estate
2018
ACTIVITY
See Forever Village 132, Mountain Village - Offered at $2,595,000
San Miguel County Overview 523
555
562
$507.1M
410
2013
2014
2015
2016
$621.1M
619
2017
344 YTD
$342.2M
2018
2013
# of Tr ansact i on s S an Mi g uel C ount y
2014
$461.8M $452.8M
2015
2016
$358.9M YTD
2017
Dol l ar Vo l u me San Mig uel C ount y
5683 Last Dollar Road, Telluride - Offered at $1,290,000 The information represented above is compiled from Telluride Consulting data ytd as of 9/30/18 and represents all sales in San Miguel County.
2018
Overall, the Telluride real estate market remains in great shape, despite coming in below a record-setting 2017 in most metrics. Notably, the in-town market is seeing record highs in list and sale price per square foot. This trend is likely due to multiple factors including a higher absorption rate in town as a finite supply is met with a persistent shift towards walkability and in-town lifestyle. This pattern is not specific to Telluride, as many ski communities are seeing similar increases in value relative to the convenience of in-town lifestyles, including Aspen. Another contributing factor to the escalation of price-per-square-foot in town is the availability of high-end new construction inventory.
Mountain Village is enjoying a period of high supply, with many incredible opportunities for buyers to purchase homes with views, space, world-class ski access, or any combination of the three. While not as walkable as town, Mountain Village homeowners have the unique advantage of a free gondola, making a careless commute from a Mountain Village home to the shops and restaurants of Telluride a convenient reality unmatched by any other ski community. Given Auberge Resorts’ investments in the Madeline, development plans for the ski area from CEO Bill Jensen, the recent purchase of Lot 126 for a branded high-end hotel/condo/chalet product, and the pending purchase of Lot 161 near the Peaks to welcome a new branded very high end hotel and residence, it’s not outside the realm of possibility to see an increase in demand in Mountain Village in the near future. The insightful Buyer could take advantage of some tremendous opportunities if they were to move before that shift.
What’s Selling? Town of Tel luride Under Contract
Number Sold
Sold Price Range
Average Sold Price
Average % Off Asking $
3 Bedrooms
1
6
$920,600 - $7,200,000
$2,762,161
3%
4 Bedrooms
6
9
$1,815,000 - $4,400,000
$3,192,222
6%
5+ Bedrooms
2
3
$3,995,000 - $7,688,000
$5,977,667
0%
Studio & 1 Bedrooms
4
20
$160,000 - $700,000
$346,200
3%
2 Bedrooms
3
18
$420,000 - $1,525,000
$760,875
3%
3 Bedrooms
9
16
$480,000 - $2,780,000
$1,350,391
5%
4 Bedrooms
5
1
$2,100,000
$2,100,000
7%
5+ Bedrooms
2
2
$4,200,000 - $4,300,000
$4,250,000
1%
1
9
$185,000 - $3,200,000
$865,000
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 9/30/2018, it includes the Idarado subdivision and excludes deedrestricted, commercial, & fractional properties.
ytd
$
2018
as of 9/30/2018 there have been 84 sales in Town of Telluride for a total dollar volume of $131,246,965.
18
ďƒ‡2% compared to ytd 2017
9
#
ďƒˆ21% compared to ytd 2017
57
$68,985,965
$9,435,000
$52,826,000
HOMES
LAND
CONDOS
537 W. Galena Ave., Telluride - Sold 9/13/2018 for $3,345,000 Listed & Sold by Telluride Properties
121 N. Spruce St., Telluride - Offered at $4,880,000
What’s For Sale? Town of Tel luride
Number Available
Asking Price Range
Average Asking Price
3 Bedrooms
12
$1,345,000 - $6,125,000
$2,775,000
4 Bedrooms
6
$2,250,000 - $6,795,000
$4,379,167
5+ Bedrooms
10
$3,200,000 - $9,950,000
$5,504,500
Studio & 1 Bedrooms
9
$160,000 - $679,000
$474,875
2 Bedrooms
16
$399,000 - $3,050,000
$1,159,270
3 Bedrooms
11
$699,000 - $3,950,000
$2,074,700
4 Bedrooms
14
$1,295,000 - $8,150,000
$3,672,071
5+ Bedrooms
6
$2,595,000 - $6,650,000
$4,615,833
19
$669,000 - $5,000,000
$2,015,400
Single Family Homes
Condominiums
Vacant Land All
The information represented above is compiled from Telluride MLS data ytd as of 9/30/2018, 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
1
1
$885,000
$885,000
1%
4 Bedrooms
2
6
$1,300,000 - $3,850,000
$2,628,833
7%
5 Bedrooms
3
2
$2,250,000 - $4,300,000
$3,275,000
6%
6+ Bedrooms
0
5
$2,700,000 - $6,510,000
$4,357,000
7%
Studio & 1 Bedrooms
2
16
$140,000 - $970,000
$319,359
5%
2 Bedrooms
1
15
$223,400 - $1,346,000
$703,927
7%
3 Bedrooms
2
23
$475,000 - $2,250,000
$1,327,557
5%
4 Bedrooms
1
9
$675,00 - $4,700,000
$2,271,278
9%
5+ Bedrooms
0
4
$1,549,00 - $3,050,000
$2,376,000
8%
3
17
$155,000 - $8,150,000
$1,289,735
11%
Single Family Homes
Condominiums
Vacant Land All
The information represented above is compiled from the Telluride MLS and Telluride Consulting data ytd as of 9/30/2018, it excludes deed-restricted, commercial, & fractional properties.
ytd 2018
as of 9/30/2018 there have been 98 sales in Mountain Village for a total dollar volume of $143,066,450.
$ 14
ďƒˆ27%
compared to ytd 2017
17
#
ďƒˆ18%
compared to ytd 2017
67
$44,993,000
$21,925,500
$76,147,950
HOMES
LAND
CONDOS
438 Benchmark Ln., Mountain Village - Sold 9/27/2018 for $6,510,000 Listed & Sold by Telluride Properties
166 Country Club 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
5
$2,599,000 - $5,000,000
$3,647,800
4 Bedrooms
11
$1,495,000 - $7,295,000
$4,273,636
5 Bedrooms
20
$2,495,000 - $8,975,000
$5,214,075
6+ Bedrooms
17
$3,800,000 - $16,700,000
$7,450,882
Studio & 1 Bedrooms
13
$162,500 - $789,500
$425,347
2 Bedrooms
17
$404,000 - $1,675,000
$698,824
3 Bedrooms
19
$510,000 - $3,995,000
$1,716,789
4 Bedrooms
18
$800,000 - $5,600,000
$3,113,722
5+ Bedrooms
8
$1,595,000 - $4,500,000
$2,908,571
77
$195,000 - $6,950,000
$943,784
Single Family Homes
Condominiums
Vacant Land All
The information represented above is compiled from Telluride MLS data ytd as of 9/30/2018, 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
6
7
$330,000 - $1,700,000
$1,400,000
6%
Deep Creek Mesa
3
11
$360,000 - $7,500,000
$1,000,000
8%
Down Valley
2
5
$235,000 - $737,500
$550,000
4%
Wilson Mesa
3
5
$262,000 - $4,725,000
$1,620,000
7%
Specie Mesa
0
2
$425,000 - $2,700,000
$1,562,500
14%
Hastings Mesa
1
7
$160,000 - $1,500,000
$230,000
4%
Iron Springs/Horsefly Mesa
4
$140,000 - $625,000
$200,000
9%
Ilium/Ames
0
0
--
--
--
Ophir
2
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 9/30/2018, 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
31 Diamond Point Lane, Ski Ranches (Turkey Creek Mesa) - Offered at $2,695,000
What’s For Sale? Surround ing Areas Number Available
Asking Price Range
Median Asking Price
Turkey Creek Mesa
22
$339,000 - $7,950,000
$1,150,000
Deep Creek Mesa
43
$175,000 - $29,500,000
$989,000
Down Valley
6
$89,155 - $949,000
$572,000
Wilson Mesa
24
$199,000 - $34,500,000
$743,500
Specie Mesa
24
$210,000 - $15,400,000
$824,500
Hastings Mesa
22
$119,500 - $3,800,000
$279,000
Iron Springs/Horsefly Mesa
47
$75,000 - $17,950,000
$399,000
Ilium/Ames
0
-
-
Ophir
3
$155,000 - $210,000
$205,000
(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 9/30/2018, it excludes deed-restricted , commercial, & fractional properties.
Find Your Happy Place in Telluride SearchTellurideRealEstate.com
FEATURED LISTING 207 Wilson Peak Drive - Mountain Village I $2,985,000 Our website is a great place to start searching for your happy place in Telluride. When you are ready, our local real estate professionals are standing by to answer all the questions your computer can’t.
Telluride Properties has participated in 29% of sales dollar volume in San Miguel County through September 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