Q2 Market Report 2020
It is July and Telluride is embracing the “new normal”. Restaurants are operating under strict guidelines, short term rentals are being managed at 50% occupancy (with potential to go to 75% in the coming weeks) and half of Main Street is closed to cars, offering an outdoor drinking and dining experience with a mountain backdrop like no other. In the absence of festivals, plenty of FUN remains to be had in a town with easy and broad access to the great outdoors.
The Telluride Area Real Estate Market, accordingly, has not skipped a beat. Through Q2 of 2020, the San Miguel County market is up 26% over the 5 year average in total dollar volume, following the month of June that was up 36% over June 2019. Low inventory in the Telluride single-family market has kept sales volume relatively low in that segment, however, Town of Telluride condos and Mountain Village homes have been active enough to bolster the area as a whole, each up over their 5 year averages and resulting in a market dollar volume that is up 41% over 2019 year-to-date.
The current trend, in light of a worldwide pandemic, is evident: Buyers, particularly from large cities, are seeking wide open spaces and small town living. The Telluride lifestyle has never looked more attractive and people have never been so motivated to move forward with their dream of living here.
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