Telluride Real Estate Market Report Q2 2019

Q2 REPORT Telluride Real Estate

2019

ACTIVITY

565 East Colorado Avenue, Telluride - Offered at $3,575,000

San Miguel County Overview

# 523

555

$

ďƒˆ9% compared to ytd 2018

562

2015

2016

$621.1M $507.1M

499

2017

Mountain Village has seen steady productivity under $3m but over $4m has been slow and in turn has offered excellent values for wonderful lifestyle properties. Now is the time for savvy buyers to turn their attention to the value opportunities in Mountain Village. Ski-in homes represent amazing convenience for families at well below replacement cost. Furthermore, this dynamic stands to improve as the ski area announces significant lift upgrades and a number of new real estate projects including a significant five star hotel project. Understanding, foresight and market knowledge will reward these buyers financially in conjunction with significantly enriching their lifestyle.

compared to ytd 2018

$537.5M $461.8M $452.8M

205 YTD

2014

The Town market is currently seeing newer construction product transcend historic prices as limited supply, continuous demand, and stunning new product create favorable market conditions. Nevertheless, prices on a square-foot basis still remain well below below Vail, Jackson and Aspen, proving Telluride's rate of appreciation steady and consistent rather than volatile. When the dust settles this summer, it is likely that the Town values and supply will finally be where they should be given the stature of the market.

ďƒˆ14%

619

2018

2019

# of Tr ans a ct i ons S an Mi g u e l Count y

$187.2M YTD

2014

2015

2016

2017

2018

The Telluride market as a whole is slightly off last year's strong performance - the market is down 14% in total dollar volume through the first half of 2019 - but as summer progresses we are seeing strong interest by new buyers to the market as well as some of our market's existing owners making upgrades. The Town of Telluride continues to show its strength with only a 6% decline in dollar volume, which can mostly be attributed to an inventory shortage. This has resulted in a steady upward trend of home values in Town. Meanwhile, Mountain Village is off the pace 30% for the year, resulting in some tremendous value opportunities, particularly in the ski in/out home market. Other outlying neighborhoods have shown renewed interest and activity is on the rise in a number of the subdivisions and on the mesas.

2019

Dol l ar Vol u me San Miguel C ount y

Lot P16 Idarado Legacy - Offered at $3,350,000 The information represented above is compiled from Telluride Consulting data ytd as of 6/30/2019 and represents all sales in San Miguel County.

Telluride continues to garner the "greatest ski town" moniker and incredible community spirit plays an important role in this title. As the region grows, Telluride has maintained its small town feel, which will continue to drive desirability and values resulting in a tremendous lifestyle component for all who have invested in the Telluride market.

More about Telluride ...

Telluride Ranks at the top of US News' "Best Small Towns to Visit in the USA" Please also consider learning more about the Telluride Science Research Center

ytd

$

2019

What’s Selling?

as of 6/30/2019 there have been 38 sales in Town of Telluride for a total dollar volume of $63,655,753.

Town of Tel luride Under Contract

Number Sold

Sold Price Range

Average Sold Price

Average % Off Asking $

3 Bedrooms

1

4

$1,480,000 - $2,150,000

$1,826,000

3%

4 Bedrooms

1

1

$1,850,000

--

7%

5+ Bedrooms

0

2

$3,625,000 - $8,400,000

$6,012,500

10%

Studio & 1 Bedrooms

5

7

$365,979 - $665,000

$535,140

5%

2 Bedrooms

3

8

$535,000 - $2,327,500

$1,130,188

4%

3 Bedrooms

1

9

$825,774 - $1,955,000

$1,477,419

5%

4 Bedrooms

2

2

$3,287,500 - $3,400,000

$3,343,750

3%

5+ Bedrooms

1

1

$5,700,000**

--

14%

0

4

$280,000 - $1,400,000

$1,001,250

8%

7

4

24% compared to ytd 2018

27

$21,179,000

$38,471,753

HOMES

LAND

CONDOS

Condominiums

Vacant Land

**This sale was a commercial/residential building with 1 commercial space and 2 condos.

River Club Whole Ownership Units, Telluride - Sold 5/9/2019 for $5,150,000 Listed & Sold by Telluride Properties The information represented above is compiled from the Telluride MLS ytd as of 6/30/2019 and includes the Idarado subdivision. It excludes deed-restricted, commercial, & fractional properties.

compared to ytd 2018

#

$4,005,000

Single Family Homes

All

6%

What’s For Sale?

Town of Tel luride

Number Available

Asking Price Range

Average Asking Price

3 Bedrooms

8

$1,650,000 - $4,745,000

$3,205,625

4 Bedrooms

9

$1,397,000 - $6,125,000

$3,364,889

5+ Bedrooms

10

$2,155,000 - $8,995,000

$5,576,500

Studio & 1 Bedrooms

7

$160,000 - $899,000

$500,286

2 Bedrooms

12

$369,000 - $3,050,000

$1,166,750

3 Bedrooms

7

$1,095,000 - $3,695,000

$1,895,714

4 Bedrooms

10

$1,295,000 - $7,250,000

$4,121,667

5+ Bedrooms

10

$2,700,000 - $6,500,000

$4,967,500

22

$720,000 - $5,000,000

$2,039,955

Single Family Homes

Condominiums

Vacant Land All

Auberge Resorts at Element 52 - South 1A, Town of Telluride - Offered at $4,995,000 The information represented above is compiled from the Telluride MLS ytd as of 6/30/2019 and includes the Idarado subdivision. It excludes deed-restricted, commercial, & fractional properties.

ytd

$

2019

What’s Selling?

as of 6/30/2019 there have been 42 sales in Mountain Village for a total dollar volume of $64,630,086.

Mountain V il lage Under Contract

Number Sold

Sold Price Range

Average Sold Price

Average % Off Asking $

3 Bedrooms

0

2

$985,000 - $1,800,000

$1,392,500

0%

4 Bedrooms

1

1

$2,200,000

--

4%

5 Bedrooms

2

2

$4,025,000 - $4,650,000

$4,337,500

18%

6+ Bedrooms

0

0

--

--

--

Studio & 1 Bedrooms

3

8

$130,000 - $739,000

$312,125

4%

2 Bedrooms

1

3

$500,000 - $1,525,000

$1,120,833

7%

3 Bedrooms

2

9

$525,000 - $3,700,000

$1,646,111

4%

4 Bedrooms

1

5

$1,950,000 - $2,886,500

$2,327,300

8%

5+ Bedrooms

0

4

$1,454,086 - $2,400,000

$1,957,272

6%

3

7

$225,000 - $3,975,000

$1,503,571

4%

5

7

#

34%

compared to ytd 2018

30

$10,525,000

$40,445,086

HOMES

LAND

CONDOS

Condominiums

Vacant Land

210 Wilson Peak Drive, Mountain Village - Sold 6/21/2019 for $4,650,000 Sold by Telluride Properties The information represented above is compiled from the Telluride MLS ytd as of 6/30/2019, it excludes deed-restricted, commercial, & fractional properties.

compared to ytd 2018

$13,660,000

Single Family Homes

All

30%

What’s For Sale?

Mountain V il lage

Number Available

Asking Price Range

Average Asking Price

3 Bedrooms

4

$1,399,000 - $3,850,000

$2,884,750

4 Bedrooms

14

$1,675,000 - $6,995,000

$4,038,571

5 Bedrooms

21

$1,650,000 - $9,200,000

$4,861,381

6+ Bedrooms

19

$3,795,000 - $10,950,000

$6,204,263

Studio & 1 Bedrooms

18

$175,000 - $995,000

$393,556

2 Bedrooms

21

$389,000 - $1,699,000

$652,714

3 Bedrooms

17

$510,000 - $3,250,000

$1,601,353

4 Bedrooms

16

$725,000 - $5,495,000

$2,995,313

5+ Bedrooms

6

$2,200,000 - $4,595,000

$3,174,167

74

$195,000 - $2,500,000

$834,249

Single Family Homes

Condominiums

Vacant Land All

128 Adams Ranch Road, Mountain Village - Offered at $4,400,000 The information represented above is compiled from Telluride MLS data ytd as of 6/30/2019, it excludes deed-restricted, commercial, & fractional properties.

What’s Selling?

Surround ing Areas Under Contract

Number Sold

Sold Price Range

Median Sold Price

Median % Off Asking $

Turkey Creek Mesa

1

4

$260,000 - $1,500,000

$912,500

13%

Deep Creek Mesa

1

2

$510,000 - $3,200,000

$1,855,000

4%

Down Valley

2

2

$460,000 - $892,000

$676,000

4%

Wilson Mesa

1

3

$202,000 - $700,900

$550,000

5%

Specie Mesa

0

0

--

--

--

Hastings Mesa

1

2

$130,500 - $200,000

$165,250

13%

Iron Springs/Horsefly Mesa

0

5

$250,000 - $1,075,000

$470,000

10%

Ilium/Ames

0

1

$220,000

--

0%

Ophir

0

1

$580,000

--

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

1325 East Anderson Road, Wilson Mesa - Sold 5/9/2019 for $700,900 Sold by Telluride Properties The information represented above is compiled from Telluride MLS data ytd as of 6/30/2019, it excludes deed-restricted, commercial, & fractional properties.

What’s For Sale?

Surround ing Areas Number Available

Asking Price Range

Median Asking Price

Turkey Creek Mesa

32

$275,000 - $20,000,000

$1,450,000

Deep Creek Mesa

42

$475,000 - $24,950,000

$3,184,432

Down Valley

9

$249,000 - $1,325,000

$697,000

Wilson Mesa

24

$185,000 - $34,500,000

$689,500

Specie Mesa

25

$197,500 - $15,400,000

$575,000

Hastings Mesa

23

$120,000 - $3,800,000

$429,000

Iron Springs/Horsefly Mesa

42

$75,000 - $11,750,000

$259,000

Ilium/Ames

1

$3,395,000

--

Ophir

7

$183,500 - $770,500

$485,000

(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

175 Raspberry Patch, Raspberry Patch (Turkey Creek Mesa) - Offered at $6,995,000 The information represented above is compiled from Telluride MLS data ytd as of 6/30/2019, it excludes deed-restricted , commercial, & fractional properties.

Telluride Properties has participated in 36% of the dollar volume for San Miguel County Sales through June 2019, while only representing 8% 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, Ste. 103

FEATURED LISTING Hidden Bear Ranch - Hastings Mesa I $2,690,000