Telluride Real Estate Market Update – April 2020
Click on the above report for a comprehensive Market Update, summarizing the current state of affairs in the Telluride Area Real Estate Market.
Notwithstanding the uncertain status of the world, the financial markets, and the future, we at Telluride Properties have remained attentive to the condition of our real estate market and the many positive indicators we saw with 2020’s first quarter sales. To be clear, many, if not
all of those transactions were under contract prior to recent world events. That said, only 12 contracts in the whole of San Miguel County were terminated during March, but it is likely we won’t truly start to see the impacts for 30 – 60 days.The market as a whole is up 32% year-to-date in terms of total dollar volume and 14% in
total number of transactions. This growth is driven in large part by the Town of Telluride’s condominium market, which saw upwards of $75M in sales during the first quarter. Many
of those condominiums were of new construction in prime locations that represented opportunities not available for many years, and as a result, set price per square foot records. Even still, those record sales align with similar product in other ski markets and represent a tremendous value when comparing their favored attributes; proximity to skiing and downtown, level of finish, finite supply, views, community, and all of the various intangibles provided by the unique Telluride lifestyle. In spite of a depleted inventory of Telluride single family homes, focus on the upper-end of this market has remained strong with a year-to-date median sales price of $3.8M. Of the 31 total sales in the Town of Telluride, 14 were over $3M and 7 of those sales were $5M+.
Mountain Village has also seen encouraging growth…
Click Here or above to read more of the market update.
O’Neill Stetina Group Social Media
Make sure you follow us on all of our social media channels! We will be adding new content, listings information, highlighting local trails, and doing virtual open houses. This is a great way to keep an eye on Telluride until you can get back here again! Click below for links to our Instagram and Facebook pages:
OSG Check In Newsletter
We are thinking of you in these uncertain times. If you missed our last update, please follow the below link:
A Note From Telluride
Telluride Summer Flight Schedule
Click Here for More Information
As always, thank you for reading and feel free to reach out with any questions. We hope to see you here!