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Q3 REPORT Telluride Real Estate

2018

ACTIVITY

See Forever Village 132, Mountain Village - Offered at $2,595,000


San Miguel County Overview 523

555

562

$507.1M

410

2013

2014

2015

2016

$621.1M

619

2017

344 YTD

$342.2M

2018

2013

# of Tr ansact i on s S an Mi g uel C ount y

2014

$461.8M $452.8M

2015

2016

$358.9M YTD

2017

Dol l ar Vo l u me San Mig uel C ount y

5683 Last Dollar Road, Telluride - Offered at $1,290,000 The information represented above is compiled from Telluride Consulting data ytd as of 9/30/18 and represents all sales in San Miguel County.

2018


Overall, the Telluride real estate market remains in great shape, despite coming in below a record-setting 2017 in most metrics. Notably, the in-town market is seeing record highs in list and sale price per square foot. This trend is likely due to multiple factors including a higher absorption rate in town as a finite supply is met with a persistent shift towards walkability and in-town lifestyle. This pattern is not specific to Telluride, as many ski communities are seeing similar increases in value relative to the convenience of in-town lifestyles, including Aspen. Another contributing factor to the escalation of price-per-square-foot in town is the availability of high-end new construction inventory.

Mountain Village is enjoying a period of high supply, with many incredible opportunities for buyers to purchase homes with views, space, world-class ski access, or any combination of the three. While not as walkable as town, Mountain Village homeowners have the unique advantage of a free gondola, making a careless commute from a Mountain Village home to the shops and restaurants of Telluride a convenient reality unmatched by any other ski community. Given Auberge Resorts’ investments in the Madeline, development plans for the ski area from CEO Bill Jensen, the recent purchase of Lot 126 for a branded high-end hotel/condo/chalet product, and the pending purchase of Lot 161 near the Peaks to welcome a new branded very high end hotel and residence, it’s not outside the realm of possibility to see an increase in demand in Mountain Village in the near future. The insightful Buyer could take advantage of some tremendous opportunities if they were to move before that shift.


What’s Selling? Town of Tel luride Under Contract

Number Sold

Sold Price Range

Average Sold Price

Average % Off Asking $

3 Bedrooms

1

6

$920,600 - $7,200,000

$2,762,161

3%

4 Bedrooms

6

9

$1,815,000 - $4,400,000

$3,192,222

6%

5+ Bedrooms

2

3

$3,995,000 - $7,688,000

$5,977,667

0%

Studio & 1 Bedrooms

4

20

$160,000 - $700,000

$346,200

3%

2 Bedrooms

3

18

$420,000 - $1,525,000

$760,875

3%

3 Bedrooms

9

16

$480,000 - $2,780,000

$1,350,391

5%

4 Bedrooms

5

1

$2,100,000

$2,100,000

7%

5+ Bedrooms

2

2

$4,200,000 - $4,300,000

$4,250,000

1%

1

9

$185,000 - $3,200,000

$865,000

12%

Single Family Homes

Condominiums

Vacant Land All

The information represented above is compiled from the Telluride MLS and Telluride Consulting data ytd as of 9/30/2018, it includes the Idarado subdivision and excludes deedrestricted, commercial, & fractional properties.


ytd

$

2018

as of 9/30/2018 there have been 84 sales in Town of Telluride for a total dollar volume of $131,246,965.

18

ďƒ‡2% compared to ytd 2017

9

#

ďƒˆ21% compared to ytd 2017

57

$68,985,965

$9,435,000

$52,826,000

HOMES

LAND

CONDOS

537 W. Galena Ave., Telluride - Sold 9/13/2018 for $3,345,000 Listed & Sold by Telluride Properties


121 N. Spruce St., Telluride - Offered at $4,880,000


What’s For Sale? Town of Tel luride

Number Available

Asking Price Range

Average Asking Price

3 Bedrooms

12

$1,345,000 - $6,125,000

$2,775,000

4 Bedrooms

6

$2,250,000 - $6,795,000

$4,379,167

5+ Bedrooms

10

$3,200,000 - $9,950,000

$5,504,500

Studio & 1 Bedrooms

9

$160,000 - $679,000

$474,875

2 Bedrooms

16

$399,000 - $3,050,000

$1,159,270

3 Bedrooms

11

$699,000 - $3,950,000

$2,074,700

4 Bedrooms

14

$1,295,000 - $8,150,000

$3,672,071

5+ Bedrooms

6

$2,595,000 - $6,650,000

$4,615,833

19

$669,000 - $5,000,000

$2,015,400

Single Family Homes

Condominiums

Vacant Land All

The information represented above is compiled from Telluride MLS data ytd as of 9/30/2018, it includes the Idarado subdivision and excludes deed-restricted, commercial, & fractional properties.


What’s Selling? Mountain V il lage Under Contract

Number Sold

Sold Price Range

Average Sold Price

Average % Off Asking $

3 Bedrooms

1

1

$885,000

$885,000

1%

4 Bedrooms

2

6

$1,300,000 - $3,850,000

$2,628,833

7%

5 Bedrooms

3

2

$2,250,000 - $4,300,000

$3,275,000

6%

6+ Bedrooms

0

5

$2,700,000 - $6,510,000

$4,357,000

7%

Studio & 1 Bedrooms

2

16

$140,000 - $970,000

$319,359

5%

2 Bedrooms

1

15

$223,400 - $1,346,000

$703,927

7%

3 Bedrooms

2

23

$475,000 - $2,250,000

$1,327,557

5%

4 Bedrooms

1

9

$675,00 - $4,700,000

$2,271,278

9%

5+ Bedrooms

0

4

$1,549,00 - $3,050,000

$2,376,000

8%

3

17

$155,000 - $8,150,000

$1,289,735

11%

Single Family Homes

Condominiums

Vacant Land All

The information represented above is compiled from the Telluride MLS and Telluride Consulting data ytd as of 9/30/2018, it excludes deed-restricted, commercial, & fractional properties.


ytd 2018

as of 9/30/2018 there have been 98 sales in Mountain Village for a total dollar volume of $143,066,450.

$ 14

ďƒˆ27%

compared to ytd 2017

17

#

ďƒˆ18%

compared to ytd 2017

67

$44,993,000

$21,925,500

$76,147,950

HOMES

LAND

CONDOS

438 Benchmark Ln., Mountain Village - Sold 9/27/2018 for $6,510,000 Listed & Sold by Telluride Properties


166 Country Club Drive, Mountain Village - Offered at $7,595,000


What’s For Sale? Mountain V il lage

Number Available

Asking Price Range

Average Asking Price

3 Bedrooms

5

$2,599,000 - $5,000,000

$3,647,800

4 Bedrooms

11

$1,495,000 - $7,295,000

$4,273,636

5 Bedrooms

20

$2,495,000 - $8,975,000

$5,214,075

6+ Bedrooms

17

$3,800,000 - $16,700,000

$7,450,882

Studio & 1 Bedrooms

13

$162,500 - $789,500

$425,347

2 Bedrooms

17

$404,000 - $1,675,000

$698,824

3 Bedrooms

19

$510,000 - $3,995,000

$1,716,789

4 Bedrooms

18

$800,000 - $5,600,000

$3,113,722

5+ Bedrooms

8

$1,595,000 - $4,500,000

$2,908,571

77

$195,000 - $6,950,000

$943,784

Single Family Homes

Condominiums

Vacant Land All

The information represented above is compiled from Telluride MLS data ytd as of 9/30/2018, it excludes deed-restricted, commercial, & fractional properties.


What’s Selling? Surround ing Areas Under Contract

Number Sold

Sold Price Range

Median Sold Price

Average % Off Asking $

Turkey Creek Mesa

6

7

$330,000 - $1,700,000

$1,400,000

6%

Deep Creek Mesa

3

11

$360,000 - $7,500,000

$1,000,000

8%

Down Valley

2

5

$235,000 - $737,500

$550,000

4%

Wilson Mesa

3

5

$262,000 - $4,725,000

$1,620,000

7%

Specie Mesa

0

2

$425,000 - $2,700,000

$1,562,500

14%

Hastings Mesa

1

7

$160,000 - $1,500,000

$230,000

4%

Iron Springs/Horsefly Mesa

4

$140,000 - $625,000

$200,000

9%

Ilium/Ames

0

0

--

--

--

Ophir

2

4

$183,100 - 300,000

$221,250

2%

(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 9/30/2018, it excludes deed-restricted, commercial, & fractional properties.


Lot 152 East Serapio Road, Aldasoro Ranch (Deep Creek Mesa) - Sold 2/4/2018 for $960,000 Listed by Telluride Properties


31 Diamond Point Lane, Ski Ranches (Turkey Creek Mesa) - Offered at $2,695,000


What’s For Sale? Surround ing Areas Number Available

Asking Price Range

Median Asking Price

Turkey Creek Mesa

22

$339,000 - $7,950,000

$1,150,000

Deep Creek Mesa

43

$175,000 - $29,500,000

$989,000

Down Valley

6

$89,155 - $949,000

$572,000

Wilson Mesa

24

$199,000 - $34,500,000

$743,500

Specie Mesa

24

$210,000 - $15,400,000

$824,500

Hastings Mesa

22

$119,500 - $3,800,000

$279,000

Iron Springs/Horsefly Mesa

47

$75,000 - $17,950,000

$399,000

Ilium/Ames

0

-

-

Ophir

3

$155,000 - $210,000

$205,000

(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 9/30/2018, it excludes deed-restricted , commercial, & fractional properties.


Find Your Happy Place in Telluride SearchTellurideRealEstate.com

FEATURED LISTING 207 Wilson Peak Drive - Mountain Village I $2,985,000 Our website is a great place to start searching for your happy place in Telluride. When you are ready, our local real estate professionals are standing by to answer all the questions your computer can’t.


Telluride Properties has participated in 29% of sales dollar volume in San Miguel County through September 2018, while only representing 12% 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

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