Q4 REPORT Telluride Real Estate
2018
ACTIVITY
121 North Spruce Street, Town of Telluride - Offered at $4,880,000
San Miguel County Overview 523
555
562
$621.1M
619 499 YTD
410
2013
$507.1M
$461.8M $452.8M
537.5 YTD
$342.2M
2014
2015
2016
2017
2018
# of Tr ansact i on s S an Mi g uel C ount y
2013
2014
2015
2016
2017
Dol l ar Vo l u me San Mig uel C ount y
Gold Creek Ranch, Alta Lakes - Offered at $16,900,000 or $20,000,000 (includes 127 N. Oak St.) The information represented above is compiled from Telluride Consulting data ytd as of 12/31/18 and represents all sales in San Miguel County.
2018
Despite the worst winter drought since 1976, San Miguel County real estate boasted its second best year since 2009 with $537.5M in total sales based on 499 transactions. Dwindling inventory in a variety of market sectors and trying to keep pace with the stellar year of 2017 contributed to a year-over-year decline of 13% in overall sales volume and 19% decrease in transaction volume. Homes in the Town of Telluride continued to be a hot market sector. Four bedroom homes ranging from $1,150,000 to $5,290,000 drew the most attention with 15 sales. A trend emerged that homes considered as projects with potential upside or new and remodeled homes finished to a high level were in greatest demand. Town of Telluride Condominiums showed continued strength, however, diminishing inventory proved to be a factor with 14% less sales in this market sector. Mountain Village demonstrated a surge in activity for 4 and 5 bedroom homes priced between $1,300,000 and $4,300,000. Mountain Village condominiums were also an active market sector. All 3 and 4 bedroom, single level condominium units listed in Mountain Village sold in 2018 or have been placed under contract with no inventory of this kind currently on the market. The Mountain Village market also responded well to new and remodeled single family and condominium product. Lastly, improved ranch properties on 100 acres or greater rebounded with several sales leaving very limited inventory for this type of product heading into 2019. The region has been blessed with great snow in 2019 and with Mountain Village experiencing 4 sales in the first two weeks of the first quarter, early signs indicate that the market is holding steady despite a tedious interest rate environment and trade war concerns with China. The Christmas holiday was a smashing success and I anticipate the Telluride region will experience continued demand for quality product with sales escalating in February and March which will set the tone for another strong year.
What’s Selling? Town of Tel luride Under Contract
Number Sold
Sold Price Range
Average Sold Price
Average % Off Asking $
3 Bedrooms
1
6
$1,200,000 - $2,437,000
$1,858,728
5%
4 Bedrooms
1
15
$1,150,000 - $5,290,000
$2,915,000
6%
5+ Bedrooms
1
5
$2,175,000 - $7,688,000
$4,609,600
6%
Studio & 1 Bedrooms
1
33
$160,000 - $700,000
$364,276
3%
2 Bedrooms
1
18
$420,000 - $1,848,000
$759,361
4%
3 Bedrooms
0
25
$659,000 - $2,780,000
$1,303,450
7%
4 Bedrooms
1
6
$1,035,000 - $3,095,000
$1,634,167
7%
5+ Bedrooms
1
4
$2,270,000 - $7850,000
$4,655,000
4%
2
9
$185,000 - $3,200,000
$1,038,889
13%
Single Family Homes
Condominiums
Vacant Land All
The information represented above is compiled from the Telluride MLS ytd as of 12/31/2018, it includes the Idarado subdivision and the valley floor to airport road. It excludes deedrestricted, commercial, & fractional properties.
ytd 2018
as of 12/31/2018 there have been 121 sales in Town of Telluride for a total dollar volume of $173,976,228.
$ 26
10% compared to ytd 2017
9
#
22% compared to ytd 2017
86
$77,925,365
$9,350,000
$86,700,863
HOMES
LAND
CONDOS
301 North Oak Street, Town of Telluride - Sold 12/13/2018 for $5,290,000 Listed & Sold by Telluride Properties
127 North Oak Street, Town of Telluride - Offered at $8,500,000 or $20,000,000 (includes Gold Creek Ranch)
What’s For Sale? Town of Tel luride
Number Available
Asking Price Range
Average Asking Price
3 Bedrooms
10
$925,000 - $4,495,000
$2,540,500
4 Bedrooms
9
$985,000 - $6,125,000
$3,234,556
5+ Bedrooms
11
$2,155,000 - $9,995,000
$5,116,364
Studio & 1 Bedrooms
8
$160,000 - $899,000
$558,625
2 Bedrooms
14
$389,000 - $3,050,000
$1,296,725
3 Bedrooms
10
$885,000 - $3,695,000
$2,134,400
4 Bedrooms
10
$1,295,000 - $8,150,000
$4,007,000
5+ Bedrooms
7
$4,500,000 - $6,650,000
$5,642,857
17
$669,000 - $5,000,000
$2,038,764
Single Family Homes
Condominiums
Vacant Land All
The information represented above is compiled from Telluride MLS data ytd as of 12/31/2018, it includes the Idarado subdivision and the valley floor to airport road. It 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
3
$885,000 - $2,345,000
$1,681,667
4%
4 Bedrooms
1
9
$1,300,000 - $3,850,000
$2,561,664
6%
5 Bedrooms
0
6
$2,250,000 - $4,300,000
$3,048,333
8%
6+ Bedrooms
0
5
$2,700,000 - $6,510,000
$4,357,000
7%
Studio & 1 Bedrooms
1
19
$140,000 - $970,000
$330,776
5%
2 Bedrooms
1
15
$340,000 - $1,575,000
$745,300
6%
3 Bedrooms
1
27
$445,000 - $2,250,000
$1,345,956
4%
4 Bedrooms
1
11
$675,000 - $4,700,000
$2,173,182
7%
5+ Bedrooms
1
4
$1,549,000 - $3,250,000
$2,212,250
8%
0
22
$155,000 - $8,150,000
$1,065,659
12%
Single Family Homes
Condominiums
Vacant Land All
The information represented above is compiled from the Telluride MLS ytd as of 12/31/2018, it excludes deed-restricted, commercial, & fractional properties.
ytd 2018
as of 12/31/2018 there have been 121 sales in Mountain Village for a total dollar volume of $178,178,522.
$ 23
$68,174,972 HOMES
128 Singletree Ridge, Mountain Village - Sold 10/25/2018 for $3,290,000 Listed by Telluride Properties
ďƒˆ25%
compared to ytd 2017
22
$23,444,500 LAND
#
ďƒˆ14%
compared to ytd 2017
76
$86,559,050 CONDOS
538 Benchmark Drive, Mountain Village - Offered at $4,600,000
What’s For Sale? Mountain V il lage
Number Available
Asking Price Range
Average Asking Price
3 Bedrooms
4
$2,995,000 - $4,600,000
$3,760,000
4 Bedrooms
12
$2,085,000 - $7,295,000
$4,450,833
5 Bedrooms
18
$3,495,000 - $6,950,000
$5,386,611
6+ Bedrooms
20
$3,795,000 - $10,950,000
$6,595,600
Studio & 1 Bedrooms
15
$162,500 - $749,500
$407,800
2 Bedrooms
17
$399,000 - $1,595,000
$651,412
3 Bedrooms
21
$510,000 - $3,995,000
$1,904,429
4 Bedrooms
22
$785,000 - $5,600,000
$3,018,727
5+ Bedrooms
9
$1,695,000 - $4,500,000
$3,062,667
72
$195,000 - $6,950,000
$988,173
Single Family Homes
Condominiums
Vacant Land All
The information represented above is compiled from Telluride MLS data ytd as of 12/31/2018, it excludes deed-restricted, commercial, & fractional properties.
What’s Selling? Surround ing Areas Under Contract
Number Sold
Sold Price Range
Median Sold Price
Median % Off Asking $
Turkey Creek Mesa
0
18
$330,000 - $8,000,000
$1,325,000
4%
Deep Creek Mesa
1
15
$360,000 - $7,500,000
$960,000
5%
Down Valley
0
8
$83,000 - $737,500
$483,500
5%
Wilson Mesa
1
9
$115,000 - $4,725,000
$674,550
8%
Specie Mesa
0
3
$425,000 - $3,250,000
$2,700,000
14%
Hastings Mesa
1
9
$160,000 - $2,350,000
$233,000
6%
Iron Springs/Horsefly Mesa
4
10
$70,000 - $1,015,000
$400,000
7%
Ilium/Ames
0
0
--
--
--
Ophir
0
6
$183,100 - $685,000
$267,500
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 12/31/2018, it excludes deed-restricted, commercial, & fractional properties.
72 Deer Park Lane, Ski Ranches (Turkey Creek Mesa) - Sold 12/12/2018 for $2,125,000 Listed by Telluride Properties
315 Bluff View Drive (Iron Springs/Horsefly Mesa) - Offered at $1,850,000
What’s For Sale? Surround ing Areas Number Available
Asking Price Range
Median Asking Price
Turkey Creek Mesa
27
$325,000 - $20,000,000
$1,350,000
Deep Creek Mesa
44
$399,000 - $29,500,000
$1,549,500
Down Valley
7
$195,000 - $895,000
$495,000
Wilson Mesa
18
$199,000 - $34,500,000
$788,500
Specie Mesa
24
$210,000 - $15,400,000
$712,000
Hastings Mesa
20
$125,000 - $3,800,000
$264,500
Iron Springs/Horsefly Mesa
40
$75,000 - $17,950,000
$337,500
Ilium/Ames
2
$1,650,000 - $3,395,000
$2,522,500
Ophir
3
$205,000 - $548,000
$210,000
(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 12/31/2018, it excludes deed-restricted , commercial, & fractional properties.
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Telluride Properties participated in 34% of the dollar volume for Telluride MLS Sales in 2018, while only representing 8% 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, Ste. 103