Q4 REPORT Telluride Real Estate
2020
ACTIVITY
6515 County Road 60M, Wilson Mesa - Offered at $5,478,000
Wow, what an unprecedented and unpredictable year 2020 was. Full of heartbreak and turmoil for so many, we in Telluride were reminded time and time again how lucky we are to enjoy the lifestyle provided by our quaint town in the San Juan Mountains. As we reflect on the trajectory of the Telluride real estate market over the past 12 months, it seems that very lifestyle sentiment was the prevailing force in driving an extraordinary influx of demand, as the dollar volume of sales reached all-time highs. In fact, the previous high dollar volume mark set in 2007 at $756.6m was blown out of the water in 2020, increasing more than 50% for a total dollar volume of $1.16b. Incredibly, every month of the year exceeded $125m in dollar volume for San Miguel County. All across ski country, from Aspen to Jackson Hole to Big Sky, a flood of new demand has been the story of the past year, driving prices to new heights in many areas. 46% of Aspen’s 2020 dollar volume came from home sales in excess of $10m. In Jackson Hole, $3,000+/square foot is the “new normal” for properties in the upper-end. By comparison, Telluride’s surge has been more of an exacerbation of underlying dynamics; a steady increase in prices – particularly in town – and dwindling Town-ofTelluride inventory were influencing factors even before the pandemic. The average price per-square-foot of Telluride and Mountain Village homes currently on the market is $1,340, up modestly from the average of $1,006 in 2019. Even with recent “outlier” sales in the upper echelon of the per-foot metric, Telluride continues to represent a more sustainable price appreciation than comparable resort towns in the west. While the highs that our market achieved this past year are completely unmatched, the dynamics behind those highs in Telluride are full of substance and longevity. What droves of buyers sought-out in Telluride this year will remain in spades for years to come. The authenticity of the Telluride lifestyle, wide open spaces and fresh mountain air are here to be enjoyed, even when the pandemic is no more.
San Miguel County Overview #
$
Ç47% compared to 2019
Ç118% compared to 2019
1.16B
814
555
2015
562
2016
$621.1M
619 499
2017
2018
540
$537.5M
594.3M
$461.8M $452.8M
2019
2020
# of Tr ans act i ons San Mi g u e l Count y
2015
2016
2017
2018
2019
2020
Dol l ar Vo l u me San Miguel C ount y
425 East Galena Avenue, Town of Telluride - Offered at $9,970,000 The information represented above is compiled from Telluride Consulting data ytd as of 12/31/2020 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 $
3 Bedrooms
1
12
$925,000 - $10,000,000
$2,912,500
6%
4 Bedrooms
3
25
$855,000 - $7,300,000
$3,000,000
2.6%
5+ Bedrooms
1
14
$2,637,500 - $7,900,000
$5,787,500
5.5%
Studio & 1 Bedrooms
1
41
$160,000 - $675,000
$418,000
3.4%
2 Bedrooms
3
34
$485,000 - $2,075,000
$825,000
2.3%
3 Bedrooms
5
36
$865,000 - $3,600,000
$1,510,000
2.3%
4 Bedrooms
1
16
$1,380,000 - $11,200,000
$3,175,000
3.7%
5+ Bedrooms
0
7
$4,550,000 - $8,200,000
$5,250,000
5.1%
3
25
$187,553 - $6,100,000
$1,385,000
4.5%
Single Family Homes
Condominiums
Vacant Land All
The information represented above is compiled from the Telluride MLS ytd as of 12/31/2020 and includes the Idarado subdivision & Valley Floor. It excludes deed-restricted, commercial, & fractional properties.
ytd 2020
as of 12/31/2020 there have been 218 sales in the Town of Telluride for a total dollar volume of $470,858,878.
Town of Telluride - Sold 11/10/2020 for $10,000,000 Sold by Telluride Properties
$ 58
Ç113% compared to ytd 2019
25
#
Ç72% compared to ytd 2019
135
$212,380,378
$39,462,000
$219,016,500
HOMES
LAND
CONDOS
What’s For Sale? Town of Tel luride Number Available
Asking Price Range
Median Asking Price
3 Bedrooms
4
$2,895,000 - $5,999,999
$3,795,000
4 Bedrooms
3
$4,050,000 - $18,000,000
$6,495,000
5+ Bedrooms
4
$3,278,000 - $9,970,000
$6,145,000
Studio & 1 Bedrooms
3
$489,000 - $750,000
$674,900
2 Bedrooms
3
$1,100,000 - $3,050,000
$1,185,000
3 Bedrooms
3
$1,100,000 - $4,950,000
$4,950,000
4 Bedrooms
1
$1,395,000
--
5+ Bedrooms
0
--
--
12
$669,000 - $5,000,000
$2,045,000
Single Family Homes
Condominiums
Vacant Land All
The information represented above is compiled from the Telluride MLS ytd as of 12/31/2020 and includes the Idarado subdivision & Valley Floor. It excludes deed-restricted, commercial, & fractional properties.
404 East Columbia Avenue, Town of Telluride - Offered at $5,999,999
What’s Selling? Mountain V il lage Under Contract
Number Sold
Sold Price Range
Median Sold Price
Median % Off Asking $
3 Bedrooms
1
4
$2,637,500 - $4,295,000
$3,162,500
4.1%
4 Bedrooms
2
22
$1,255,000 - $4,995,000
$3,147,500
2.5%
5 Bedrooms
2
13
$2,750,000 - $6,600,000
$3,900,000
6.3%
6+ Bedrooms
2
13
$4,550,000 - $8,917,526
$6,387,093
3.4%
Studio & 1 Bedrooms
8
26
$129,500 - $880,000
$460,000
3.2%
2 Bedrooms
5
32
$345,000 - $2,100,000
$587,500
2.3%
3 Bedrooms
3
23
$485,000 - $2,800,000
$1,650,000
3.3%
4 Bedrooms
4
20
$825,000 - $4,400,000
$2,270,750
3.1%
5+ Bedrooms
2
6
$2,450,000 - $4,200,000
$3,175,000
6%
6
46
$194,000 - $2,250,000
$458,500
7.1%
Single Family Homes
Condominiums
Vacant Land All
The information represented above is compiled from the Telluride MLS ytd as of 12/31/2020, it excludes deed-restricted, commercial, & fractional properties.
ytd 2020
as of 12/31/2020 there have been 205 sales in Mountain Village for a total dollar volume of $391,755,138.
$ 52
Ç72%
compared to ytd 2019
46
#
Ç70%
compared to ytd 2019
107
$220,353,419
$26,840,500
$144,561,219
HOMES
LAND
CONDOS
529 Benchmark Drive, Mountain Village - Sold 12/23/2020 for $8,650,000 Sold by Telluride Properties
What’s For Sale? Mountain V il lage Number Available
Asking Price Range
Median Asking Price
3 Bedrooms
1
$1,995,000
--
4 Bedrooms
5
$2,695,000 - $6,750,000
$2,999,000
5 Bedrooms
4
$2,995,000 - $7,750,000
$5,797,500
6+ Bedrooms
12
$3,500,000 - $16,000,000
$6,874,500
Studio & 1 Bedrooms
9
$219,000 - $899,999
$435,000
2 Bedrooms
3
$550,000 - $1,195,000
$1,025,000
3 Bedrooms
10
$1,899,000 - $3,295,000
$2,372,500
4 Bedrooms
2
$3,675,000 - $3,750,000
$3,712,500
5+ Bedrooms
3
$2,200,000 - $3,920,000
$2,695,000
55
$799,000 - $4,699,000
$850,000
Single Family Homes
Condominiums
Vacant Land All
The information represented above is compiled from Telluride MLS data ytd as of 12/31/2020, it excludes deed-restricted, commercial, & fractional properties.
Madeline Residence 1203, Mountain Village - Offered at $849,000
What’s Selling? Surround ing Areas Under Contract
Number Sold
Sold Price Range
Median Sold Price
Median % Off Asking $
Turkey Creek Mesa
1
38
$255,000 - $13,250,000
$1,350,250
5%
Deep Creek Mesa
7
27
$320,000 - $4,800,000
$1,110,000
5%
Down Valley
2
12
$215,000 - $1,680,000
$675,000
5.4%
Wilson Mesa
2
17
$100,000 - $10,000,000
$395,000
5%
Specie Mesa
2
5
$155,000 - $910,000
$325,000
6.9%
Hastings Mesa
4
14
$110,000 - $1,340,000
$346,000
3.3%
Iron Springs/Horsefly Mesa
5
15
$100,000 - $6,930,000
$820,000
6.7%
Ilium/Ames
1
1
$1,700,000
--
--
Ophir
1
6
$145,000 - $504,000
$324,500
3.7%
(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 12/31/2020, it excludes deed-restricted, commercial, & fractional properties.
500 Elk Run Drive, Turkey Creek Mesa - Sold 10/28/2020 for $5,140,290 Sold by Telluride Properties
What’s For Sale? Surround ing Areas Number Available
Asking Price Range
Median Asking Price
Turkey Creek Mesa
10
$425,000 - $14,400,000
$1,760,000
Deep Creek Mesa
23
$475,000 - $29,000,000
$2,950,000
Down Valley
5
$249,900 - $1,795,000
$349,000
Wilson Mesa
8
$169,000 - $24,500,000
$1,349,500
Specie Mesa
27
$197,500 - $35,000,000
$1,050,000
Hastings Mesa
10
$225,000 - $8,000,000
$1,035,000
Iron Springs/Horsefly Mesa
41
$115,000 - $4,975,000
$350,000
Ilium/Ames
0
--
--
Ophir
5
$160,000 - $349,000
$189,000
(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 12/31/2020, it excludes deed-restricted, commercial, & fractional properties.
462 Dragon Lode Drive - Hastings Mesa - Offered at $2,950,000
2020 Sales Highlights Tel luride Propert ies
THE LARGEST TELLURIDE MLS SALE OF 2020
Represented Seller and Buyer in the sale of 250 Raspberry Patch Road / $13,250,000
55%
OF TELLURIDE MLS SALES $4M+ Represented Seller and/or Buyer in 41 mls sales, $4,000,000 and above.
$13,250,000
$11,200,000
$10,000,000
$8,650,000
$8,200,000
$7,900,000
49%
OF SALES DOUBLE SIDED Represented the Seller and Buyer.
3.4%
MEDIAN OFF ASKING PRICE For Seller represented listings.
PARTICIPATED IN 6/10 OF 2020’S LARGEST TELLURIDE MLS SALES Represented the Seller and/or Buyer.
970.728.0808 tellurideproperties.com Telluride Office 237 S. Oak St. at the Telluride Gondola Mountain Village Office 560 Mountain Village Boulevard, Ste. 103