Q4 REPORT Telluride Real Estate
2019
ACTIVITY
517 East Columbia Avenue, Town of Telluride - Offered at $4,125,000
San Miguel County Overview # 523
2014
555
2015
$
Ç8% compared to ytd 2018
562
2016
Ç11% compared to ytd 2018 $621.1M
619 499
2017
2018
540
2019
# of Tr ans a ct i ons S an Mi g u e l Count y
$507.1M
2014
$537.5M
594.3M
$461.8M $452.8M
2015
2016
2017
2018
2019
Dol l ar Vol u me San Miguel C ount y
Lot 325 Benchmark Drive, Mountain Village - Offered at $999,000 The information represented above is compiled from Telluride Consulting data ytd as of 12/31/2019 and represents all sales in San Miguel County.
As we enter 2020 with significant optimism (setting aside politics - both domestic and international), a look over our shoulder at the 2019 Telluride Real Estate market revealed a record setting year. To begin, an extraordinary year in-general resulted in an 11% increase over 2018 in San Miguel County’s overall dollar volume to $594.3 mm. Additionally, a broader fourth quarter push in sales showed exceptional strength at $265.5 mm. December capped the year with a dollar volume of $96.9 mm, the highest grossing month of sales in San Miguel County’s history. The Town of Telluride showed record-setting metrics beginning with strong sales in the condominium sector. A significant pent-up demand for new and contemporary inventory was satisfied with completion of the Transfer Telluride project. Transfer’s 15 diverse offerings saw 10 sales and under contracts in 2019, setting records along the way with the sale of “Fir House Penthouse 3” for $7,725,000, a record-setting $1,993/sf. Similarly, this same demand for new or remodeled single family homes in town was evident with significant inventory being sold, culminating in a Columbia Ave home selling for $7,625,000. This set another dollar per square foot record of $1,914/sf. Strong sales in both categories have depleted the available inventory and put upward pressure on prices in town. A notable shift in market activity towards Mountain Village seems to be the response to increasing prices in town. Mountain Village’s 2018 single family market sales numbered 26, with four sales over $4.0 mm. In 2019, single family sales increased to 29, with 13 sales over $4.0 mm. This was a remarkable increase within the upper-end of the market. With that said, both condominium and homes continue to be a value play compared to Telluride as we move into 2020. Down Valley, Mesa and outlying area home sales continue to be strong, particularly under $1.0 mm. The town of Norwood shows ongoing strength as its price point and lifestyle benefits become evident to a younger set of buyers. In closing, big snows have blessed the New Year, exciting skiers and all of us who value water and the vitality it provides throughout the year. Ongoing low interest rates create continued opportunities for purchasers in our region and life in our happy valley is simply ... AWESOME!
What’s Selling? Town of Tel luride Under Contract
Number Sold
Sold Price Range
Median Sold Price
Median % Off Asking $
3 Bedrooms
0
12
$1,240,000 - $3,775,875
$1,937,000
5%
4 Bedrooms
0
4
$1,850,000 - $7,625,000
$4,512,500
6%
5+ Bedrooms
1
4
$2,000,000 - $8,400,000
$4,325,000
10%
Studio & 1 Bedrooms
1
29
$160,000 - $1,550,000
$435,000
2%
2 Bedrooms
1
20
$345,000 - $2,327,500
$887,500
3%
3 Bedrooms
3
19
$825,774 - $3,675,000
$1,375,000
5%
4 Bedrooms
1
9
$1,085,000 - $7,550,000
$3,287,500
6%
5+ Bedrooms
1
6
$3,590,000 - $7,725,000
$4,100,000
8%
1
9
$280,000 - $12,750,000
$1,150,000
8%
Single Family Homes
Condominiums
Vacant Land All
The information represented above is compiled from the Telluride MLS ytd as of 12/31/2019 and includes the Idarado subdivision. It excludes deed-restricted, commercial, & fractional properties.
ytd 2019
as of 12/31/2019 there have been 113 sales in Town of Telluride for a total dollar volume of $209,775,133.
$
Ç21%
21
compared to ytd 2018
9
#
6% compared to ytd 2018
83
$64,699,875
$20,855,000
$124,220,258
HOMES
LAND
CONDOS
114 South Townsend Street, Town of Telluride - Sold 11/15/2019 for $5,025,000 Listed & Sold by Telluride Properties
522 West Columbia Avenue, Town of Telluride - Offered at $5,675,000
What’s For Sale? Town of Tel luride
Number Available
Asking Price Range
Median Asking Price
3 Bedrooms
11
$1,350,000 - $5,195,000
$3,495,000
4 Bedrooms
7
$1,595,000 - $7,495,000
$4,125,000
5+ Bedrooms
10
$2,155,000 - $8,995,000
$4,562,500
Studio & 1 Bedrooms
4
$350,000 - $995,000
$620,000
2 Bedrooms
7
$799,900 - $3,050,000
$980,000
3 Bedrooms
7
$950,000 - $3,750,000
$1,650,000
4 Bedrooms
6
$1,295,000 - $14,750,000
$4,700,000
5+ Bedrooms
6
$4,795,000 - $6,500,000
$5,300,000
27
$669,000 - $5,000,000
$1,700,000
Single Family Homes
Condominiums
Vacant Land All
The information represented above is compiled from the Telluride MLS ytd as of 12/31/2019 and includes the Idarado subdivision. It excludes deed-restricted, commercial, & fractional properties.
What’s Selling? Mountain V il lage Under Contract
Number Sold
Sold Price Range
Median Sold Price
Median % Off Asking $
3 Bedrooms
0
3
$985,000 - $1,800,000
$1,400,000
0%
4 Bedrooms
3
5
$1,312,500 - $6,00,000
$2,200,000
14%
5 Bedrooms
0
13
$1,371,020 - $6,850,000
$4,025,000
9%
6+ Bedrooms
0
6
$3,625,000 - $6,649,500
$5,625,000
8%
Studio & 1 Bedrooms
1
16
$130,000 - $850,000
$246,000
4%
2 Bedrooms
2
18
$130,000 - $1,600,000
$690,000
5%
3 Bedrooms
3
21
$525,000 - $3,700,000
$1,675,000
5%
4 Bedrooms
0
16
$675,000 - $3,895,000
$1,912,500
6%
5+ Bedrooms
0
4
$1,454,086 - $2,400,000
$1,987,500
5%
4
17
$225,000 - $3,975,000
$485,000
9%
Single Family Homes
Condominiums
Vacant Land All
The information represented above is compiled from the Telluride MLS ytd as of 12/31/2019, it excludes deed-restricted, commercial, & fractional properties.
ytd 2019
as of 12/31/2019 there have been 119 sales in Mountain Village for a total dollar volume of $211,466,106.
$ 27
Ç18%
compared to ytd 2018
17
#
ďƒˆ2%
compared to ytd 2018
75
$102,803,020
$16,030,000
$92,633,086
HOMES
LAND
CONDOS
166 Country Club Drive, Mountain Village - Sold 12/18/2019 for $6,649,500 Listed by Telluride Properties
116 Rocky Road, Mountain Village - Offered at $6,595,000
What’s For Sale? Mountain V il lage
Number Available
Asking Price Range
Median Asking Price
3 Bedrooms
4
$2,995,000 - $3,850,000
$3,547,500
4 Bedrooms
11
$1,595,000 - $6,750,000
$3,900,000
5 Bedrooms
14
$2,095,000 - $6,995,000
$4,375,000
6+ Bedrooms
19
$3,500,000 - $9,875,000
$5,995,000
Studio & 1 Bedrooms
26
$170,000 - $995,000
$262,000
2 Bedrooms
18
$339,000 - $1,390,000
$532,500
3 Bedrooms
9
$525,000 - $3,250,000
$1,725,000
4 Bedrooms
17
$1,390,000 - $5,495,000
$2,700,000
5+ Bedrooms
7
$2,195,000 - $4,500,000
$2,675,000
79
$195,000 - $5,000,000
$650,000
Single Family Homes
Condominiums
Vacant Land All
The information represented above is compiled from Telluride MLS data ytd as of 12/31/2019, 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
2
15
$260,000 - $6,675,000
$1,245,000
7%
Deep Creek Mesa
2
8
$399,000 - $5,750,000
$1,153,750
7%
Down Valley
1
6
$447,300 - $892,000
$608,750
3%
Wilson Mesa
3
9
$202,000 - $7,250,000
$550,000
8%
Specie Mesa
1
0
--
--
--
Hastings Mesa
0
9
$79,000 - $985,000
$169,000
8%
Iron Springs/Horsefly Mesa
1
16
$70,000 - $2,081,500
$243,250
6%
Ilium/Ames
0
1
$220,000
$220,000
0%
Ophir
0
2
$580,000 - $685,000
$632,500
4%
(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 12/31/2019, it excludes deed-restricted, commercial, & fractional properties.
480 County Road 59H, Wilson Mesa - Sold 12/2/2019 for $1,800,000 Listed & Sold by Telluride Properties
129 Nimbus Drive 13D (Deep Creek Mesa) - Offered at $675,000
What’s For Sale? Surround ing Areas Number Available
Asking Price Range
Median Asking Price
Turkey Creek Mesa
30
$260,000 - $15,900,000
$1,595,000
Deep Creek Mesa
36
$169,000 - $24,950,000
$1,750,000
Down Valley
7
$275,000 - $1,595,000
$697,000
Wilson Mesa
16
$140,000 - $24,500,000
$550,000
Specie Mesa
22
$185,000 - $2,999,000
$435,000
Hastings Mesa
17
$107,000 - $2,690,000
$429,000
Iron Springs/Horsefly Mesa
30
$75,000 - $17,950,000
$298,500
Ilium/Ames
2
$1,950,000 - $3,395,000
$2,672,500
Ophir
6
$183,500 - $529,000
$332,000
(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 12/31/2019, it represents single family homes and vacant land listings, it excludes deed-restricted , commercial, & fractional properties.
FEATURED LISTING 99 Pennington Place - Mountain Village I $4,600,000
Telluride Properties participated in 41% of the dollar volume for San Miguel County Sales in 2019, while only representing 13% 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