2020 Telluride Real Estate Activity Report Q2 - Telluride Properties

Q2 REPORT Telluride Real Estate

2020

ACTIVITY

302 North Willow Street, Town of Telluride - Offered at $7,895,000

It is July and Telluride is embracing the “new normal�. Restaurants are operating under strict guidelines, short term rentals are being managed at 50% occupancy (with potential to go to 75% in the coming weeks) and half of Main Street is closed to cars, offering an outdoor drinking and dining experience with a mountain backdrop like no other. In the absence of festivals, plenty of FUN remains to be had in a town with easy and broad access to the great outdoors.

The Telluride Area Real Estate Market, accordingly, has not skipped a beat.

Through Q2 of 2020, the San Miguel County market is up 26% over the 5 year average in total dollar volume, following the month of June that was up 36% over June 2019. Low inventory in the Telluride single-family market has kept sales volume relatively low in that segment, however, Town of Telluride condos and Mountain Village homes have been active enough to bolster the area as a whole, each up over their 5 year averages and resulting in a market dollar volume that is up 41% over 2019 year-to-date.

The current trend, in light of a worldwide pandemic, is evident: Buyers, particularly from large cities, are seeking wide open spaces and small town living.

The Telluride lifestyle has never looked more attractive and people have never been so motivated to move forward with their dream of living here.

San Miguel County Overview # 555

562

$

Ç12% compared to ytd 2019

Ç41% compared to ytd 2019 $621.1M

619 499

540

$537.5M

594.3M

$461.8M $452.8M 264.5M ytd

229 ytd

2015

2016

2017

2018

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

185 South Point Road, Specie Mesa - Offered at $740,000 The information represented above is compiled from Telluride Consulting data ytd as of 6/30/2020 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

2

2

$2,050,000 - $4,487,500

$3,268,750

8%

4 Bedrooms

3

8

$1,150,000 - $3,800,000

$2,484,500

6%

5+ Bedrooms

2

3

$3,100,000 - $5,900,000

$4,800,000

4%

Studio & 1 Bedrooms

6

12

$160,000 - $930,000

$335,000

3%

2 Bedrooms

4

7

$535,000 - $1,772,500

$950,000

3%

3 Bedrooms

6

10

$1,400,000 - $3,600,000

$2,095,000

5%

4 Bedrooms

0

6

$1,380,000 - $11,200,000

$3,075,000

5%

5+ Bedrooms

0

6

$4,550,000 - $8,200,000

$5,350,000

3%

0

2

$500,000 - $638,000

$569,000

37%

Single Family Homes

Condominiums

Vacant Land All

The information represented above is compiled from the Telluride MLS ytd as of 6/30/2020 and includes the Idarado subdivision. It excludes deed-restricted, commercial, & fractional properties.

ytd 2020

as of 6/30/2020 there have been 59 sales in the Town of Telluride for a total dollar volume of $140,499,058.

$

Ç98% compared to ytd 2019

15

2

#

Ç51% compared to ytd 2019

41

$42,576,000

$1,138,000

$96,504,250

HOMES

LAND

CONDOS

Auberge Resorts at Element 52 S1A, Town of Telluride - Sold 5/19/2020 for $4,550,000 Listed & Sold by Telluride Properties

What’s For Sale?

Town of Tel luride Number Available

Asking Price Range

Median Asking Price

3 Bedrooms

5

$1,950,000 - $4,595,000

$2,295,000

4 Bedrooms

9

$1,595,000 - $18,000,000

$5,795,000

5+ Bedrooms

8

$2,155,000 - $7,995,000

$5,335,000

Studio & 1 Bedrooms

13

$175,000 - $849,000

$547,000

2 Bedrooms

10

$621,000 - $3,050,000

$882,500

3 Bedrooms

7

$950,000 - $3,750,000

$1,495,000

4 Bedrooms

8

$1,295,000 - $6,000,000

$2,975,000

5+ Bedrooms

2

$2,695,000 - $5,200,000

$3,947,500

24

$669,000 - $5,000,000

$1,747,500

Single Family Homes

Condominiums

Vacant Land All

The information represented above is compiled from the Telluride MLS ytd as of 6/30/2020 and includes the Idarado subdivision. It excludes deed-restricted, commercial, & fractional properties.

317 North Spruce Street, Town of Telluride - Offered at $3,278,000

What’s Selling?

Mountain V il lage Under Contract

Number Sold

Sold Price Range

Median Sold Price

Median % Off Asking $

3 Bedrooms

0

2

$3,675,000 - $4,295,000

$3,985,000

2%

4 Bedrooms

2

7

$1,535,000 - $3,175,000

$2,330,000

4%

5 Bedrooms

1

2

$4,400,000 - $6,335,000

$5,367,500

6%

6+ Bedrooms

1

1

$7,766,900

--

0%

Studio & 1 Bedrooms

0

4

$129,500 - $515,000

$131,443

12%

2 Bedrooms

0

4

$369,000 - $1,080,000

$409,500

1%

3 Bedrooms

1

5

$670,000 - $2,033,333

$1,675,000

2%

4 Bedrooms

2

3

$1,785,000 - $2,975,000

$1,913,000

4%

5+ Bedrooms

0

2

$2,475,000 - $2,800,000

$2,637,500

6%

7

7

$194,000 - $560,000

$440,000

10%

Single Family Homes

Condominiums

Vacant Land All

The information represented above is compiled from the Telluride MLS ytd as of 6/30/2020, it excludes deed-restricted, commercial, & fractional properties.

ytd 2020

as of 6/30/2020 there have been 37 sales in Mountain Village for a total dollar volume of $68,841,618.

$ 12

Ç6%

compared to ytd 2019

7

#

ďƒˆ14%

compared to ytd 2019

18

$43,271,900

$2,735,000

$22,834,718

HOMES

LAND

CONDOS

21 Trails Edge Lane, Mountain Village - Sold 4/23/2020 for $4,295,000 Sold by Telluride Properties

What’s For Sale?

Mountain V il lage Number Available

Asking Price Range

Median Asking Price

3 Bedrooms

4

$2,749,000 - $3,800,000

$3,022,500

4 Bedrooms

11

$1,995,000 - $6,750,000

$3,695,000

5 Bedrooms

16

$2,095,000 - $6,995,000

$4,075,000

6+ Bedrooms

17

$3,795,000 - $9,475,000

$5,995,000

Studio & 1 Bedrooms

23

$152,500 - $899,000

$479,000

2 Bedrooms

18

$365,000 - $1,850,000

$662,000

3 Bedrooms

7

$1,495,000 - $2,995,000

$2,445,000

4 Bedrooms

8

$850,000 - $4,650,000

$2,725,000

5+ Bedrooms

5

$2,149,000 - $4,500,000

$2,675,000

75

$195,000 - $5,000,000

$700,000

Single Family Homes

Condominiums

Vacant Land All

The information represented above is compiled from Telluride MLS data ytd as of 6/30/2020, it excludes deed-restricted, commercial, & fractional properties.

Cassidy Ridge B201, Mountain Village - Offered at $1,223,000

What’s Selling?

Surround ing Areas Under Contract

Number Sold

Sold Price Range

Median Sold Price

Median % Off Asking $

Turkey Creek Mesa

4

13

$295,000 - $2,040,000

$1,400,000

7%

Deep Creek Mesa

4

3

$450,000 - $875,000

$615,000

10%

Down Valley

0

3

$215,000 - $804,000

$400,000

14%

Wilson Mesa

2

3

$100,000 - $590,000

$118,000

29%

Specie Mesa

2

1

$910,000

--

13%

Hastings Mesa

2

4

$190,000 - $938,000

$274,750

2%

Iron Springs/Horsefly Mesa

1

2

$100,000 - $525,000

$312,500

35%

Ilium/Ames

0

0

--

--

--

Ophir

0

4

$210,000 - $504,000

$443,500

4%

(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 6/30/2020, it excludes deed-restricted, commercial, & fractional properties.

230 Old Butterfly Road, Turkey Creek Mesa - Sold 6/17/2020 for $1,484,500 Listed & Sold by Telluride Properties

What’s For Sale?

Surround ing Areas Number Available

Asking Price Range

Median Asking Price

Turkey Creek Mesa

22

$350,000 - $14,900,000

$1,545,000

Deep Creek Mesa

31

$155,000 - $9,950,000

$975,000

Down Valley

7

$275,000 - $1,279,000

$695,000

Wilson Mesa

16

$199,000 - $24,500,000

$565,000

Specie Mesa

22

$185,000 - $2,999,000

$610,000

Hastings Mesa

16

$107,000 - $1,995,000

$397,000

Iron Springs/Horsefly Mesa

33

$75,000 - $17,950,000

$595,000

Ilium/Ames

2

$1,950,000 - $3,395,000

$2,672,500

Ophir

7

$155,000 - $749,000

$180,000

(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 6/30/2020, it excludes deed-restricted, commercial, & fractional properties.

201 Stella Drive, Placerville - Offered at $985,000

Telluride Properties has participated in 50% of the dollar volume for San Miguel County MLS Sales through the second quarter of 2020, while only representing 13% 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