Q2 REPORT Telluride Real Estate
2021
ACTIVITY
15 Mt. Wilson Way, Ski Ranches - Offered at $2,875,000
As we cross the halfway mark of 2021, the Telluride Region’s real estate market continues charging full speed ahead. As inventories have dwindled over the past year-and-a-half, San Miguel County’s dollar volume of sales has continued to rise, increasing 207% year-to-date over the prior 5 year-to-date average. Amazingly, at $684M, the year-to-date dollar volume of sales has surpassed the yearly totals for the last 10+ years (with the exception of 2020). Due to very limited inventory in Town, we have seen Mountain Village and outlying areas surge, carrying the market. There is still plenty to buy in today’s market, even though it may not be exactly what you are looking for today. Buying into the market to begin enjoying the Telluride lifestyle and to garner appreciation can set you up nicely to purchase what may be an even better property down the road. We constantly hear from people “I should have bought 5 years ago” and have yet to hear “I bought at the wrong time.” Luxury real estate in world class ski towns is very finite, therefore prices tend to not go down. Second home markets are different from primary home markets in that well-heeled sellers are patient and are more focused on achieving price than they are speed. The takeaway being, do not miss another year of enjoyment waiting for the time to be “right.” Obviously, with high demand and low inventory, it’s a great time to be a seller. Yet, like anything, it’s never quite that easy. Sellers may need to be prepared to leave the market, as re-entry can be difficult right now. For those looking to make a significant re-investment in Telluride, we are seeing spectacular offerings in the top tier of the market that have never been available before. From second homeowners to locals alike, Telluride is where they want to be and we are seeing them overcome whatever challenges stand in their way to make that dream a reality.
San Miguel County Overview #
$
Ç107% compared to 2020 ytd
Ç159% compared to 2020 ytd
$1.16B
814 $684.4M ytd 562
2016
$621.1M
619 499
2017
2018
540
2019
475 ytd
2020
2021
# of Tr ans act i ons San Mi g u e l Count y
$537.5M
$594.3M
$452.8M
2016
2017
2018
2019
2020
2021
Dol l ar Vo l u me San Miguel C ount y
Lots 2 & 4, Elk Run - Offered at $1,595,000 The information represented above is compiled from Telluride Consulting data ytd as of 6/30/2021 and represents all sales in San Miguel County.
What’s Selling? Town of Tel luride Under Contract
Number Sold
Sold Price Range
Median Sold Price
Median % Off Asking $
2-3 Bedrooms
6
11
$1,100,000 - $4,750,000
$2,835,000
0%
4 Bedrooms
2
2
$1,230,000 - $2,290,000
$1,760,000
4%
5+ Bedrooms
3
3
$5,600,000 - $9,500,000
$6,050,000
5%
Studio & 1 Bedrooms
3
18
$295,000 - $1,188,000
$607,500
0%
2 Bedrooms
7
18
$559,000 - $2,870,000
$1,037,500
3%
3 Bedrooms
2
12
$1,001,000 - $3,420,000
$1,450,000
1%
4 Bedrooms
--
3
$1,350,000 - $5,600,000
$2,003,500
3%
5+ Bedrooms
--
--
--
--
--
4
18
$400,000 - $5,000,000
$1,637,500
4%
Single Family Homes
Condominiums
Vacant Land All
The information represented above is compiled from the Telluride MLS ytd as of 6/30/2021 and includes the Idarado Subdivision & Valley Floor. It excludes deed-restricted, commercial, & fractional properties.
ytd
$
2021
as of 6/30/2021 there have been 85 sales in the Town of Telluride for a total dollar volume of $153,457,639.
16
Ç8% compared to ytd 2020
18
#
Ç35% compared to ytd 2020
51
$55,777,000
$35,441,000
$62,239,639
HOMES
LAND
CONDOS
505 Curtis Drive, Town of Telluride - Sold 5/6/21 for $4,725,000 Sold by Telluride Properties
What’s For Sale? Town of Tel luride Number Available
Asking Price Range
Median Asking Price
2-3 Bedrooms
0
--
--
4 Bedrooms
2
$4,050,000 - $18,000,000
$11,025,000
5+ Bedrooms
3
$8,500,000 - $25,000,000
$15,950,000
Studio & 1 Bedrooms
1
$800,000
--
2 Bedrooms
5
$1,315,000 - $2,095,000
$1,644,000
3 Bedrooms
4
$1,995,000 - $5,450,000
$4,000,000
4 Bedrooms
3
$5,150,000 - $33,000,000
$6,500,000
5+ Bedrooms
3*
$7,995,000 - $14,795,000
$9,600,000
4
$749,000 - $3,495,000
$2,397,500
Single Family Homes
Condominiums
Vacant Land All
*Two of these offerings represent a combination of multiple units.
The information represented above is compiled from the Telluride MLS ytd as of 6/30/2021 and includes the Idarado Subdivision & Valley Floor. It excludes deed-restricted, commercial, & fractional properties.
Transfer Telluride San Juan One, Town of Telluride - Offered at $6,500,000
What’s Selling? Mountain V il lage Under Contract
Number Sold
Sold Price Range
Median Sold Price
Median % Off Asking $
3 Bedrooms
--
3
$1,900,000 - $2,700,000
$2,370,000
5%
4 Bedrooms
4
6
$1,990,000 - $4,800,000
$3,181,250
0%
5 Bedrooms
4
6
$2,950,000 - $6,546,350
$4,027,575
1%
6+ Bedrooms
--
11
$4,450,000 - $8,100,000
$6,900,000
6%
Studio & 1 Bedrooms
2
25
$149,800 - $860,000
$425,000
2%
2 Bedrooms
5
16
$530,000 - $2,275,000
$1,175,000
2%
3 Bedrooms
3
15
$711,500 - $3,142,500
$1,955,000
1%
4 Bedrooms
4
8
$2,050,000 - $5,750,000
$3,337,500
3%
5+ Bedrooms
--
5
$2,180,000 - $3,800,000
$2,825,000
3%
2
49
$249,000 - $1,675,000
$600,000
6%
Single Family Homes
Condominiums
Vacant Land All
The information represented above is compiled from the Telluride MLS ytd as of 6/30/2021, it excludes deed-restricted, commercial, & fractional properties.
ytd 2021
as of 6/30/2021 there have been 144 sales in Mountain Village for a total dollar volume of $264,968,888.
$ 26
Ç285% compared to ytd 2020
49
#
Ç289% compared to ytd 2020
69
$126,864,000
$33,867,888
$104,237,000
HOMES
LAND
CONDOS
12 Elkstone Place 403, Mountain Village - Sold 4/13/2021 for $4,550,000 Listed by Telluride Properties
What’s For Sale? Mountain V il lage Number Available
Asking Price Range
Median Asking Price
3 Bedrooms
1
$5,000,000
--
4 Bedrooms
3
$3,999,999 - $6,950,000
$6,750,000
5 Bedrooms
4
$6,850,000 - $17,750,000
$7,700,000
6+ Bedrooms
7
$5,790,000 - $36,800,000
$7,495,000
Studio & 1 Bedrooms
6
$205,000 - $895,000
$512,500
2 Bedrooms
3
$399,000 - $824,000
$409,000
3 Bedrooms
2
$3,050,000 - $3,995,000
$3,522,500
4 Bedrooms
3
$3,295,000 - $7,995,000
$3,750,000
5+ Bedrooms
3
$2,500,000 - $8,400,000
$2,975,000
37
$439,000 - $16,500,000
$1,375,000
Single Family Homes
Condominiums
Vacant Land All
The information represented above is compiled from Telluride MLS data ytd as of 6/30/2021, it excludes deed-restricted, commercial, & fractional properties.
Blue Mesa 9 Mountain Village - Offered at $3,395,000
What’s Selling? Surround ing Areas Under Contract
Number Sold
Sold Price Range
Median Sold Price
Median % Off Asking $
Turkey Creek Mesa
2
12
$349,000 - $4,495,000
$2,050,000
4%
Deep Creek Mesa
3
23
$395,000 - $39,500,000
$875,000
2%
Down Valley
2
1
$550,000
--
12% Above
Wilson Mesa
3
4
$409,000 - $5,325,000
$2,225,000
4%
Specie Mesa
2
5
$250,000 - $2,467,232
$607,000
7%
Hastings Mesa
4
12
$95,000 - $2,650,000
$452,500
4%
Iron Springs/Horsefly Mesa
1
23
$108,000 - $4,975,000
$340,000
6%
Ilium/Ames
--
--
--
--
--
Ophir
1
10
$150,000 - $750,000
$192,5000
0%
(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 6/30/2021, it excludes deed-restricted, commercial, & fractional properties. It includes homes and land.
114 Aguirre Road, Aldasoro Ranch - Sold 5/12/21 for $5,800,000 Listed by Telluride Properties
What’s For Sale? Surround ing Areas Number Available
Asking Price Range
Median Asking Price
Turkey Creek Mesa
9
$595,000 - $21,500,000
$8,250,000
Deep Creek Mesa
14
$645,000 - $27,000,000
$3,600,000
Down Valley
--
--
--
Wilson Mesa
8
$225,000 - $24,500,000
$1,726,500
Specie Mesa
22
$195,000 - $35,000,000
$1,540,000
Hastings Mesa
6
$220,000 - $9,900,000
$2,722,500
Iron Springs/Horsefly Mesa
29
$219,000 - $2,800,000
$350,000
Ilium/Ames
2
$1,850,000 - $3,500,000
$2,675,000
Ophir
--
--
--
(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 6/30/2021, it excludes deed-restricted, commercial, & fractional properties. It includes homes and land.
1039 W. Anderson Rd. - Offered at $1,750,000
970.728.0808 tellurideproperties.com Telluride Offices 237 S. Oak St. at the Telluride Gondola 220 E. Colorado Avenue #102 Mountain Village Office 560 Mountain Village Boulevard, Ste. 103