2021 Telluride Real Estate Activity Report Q2 - Telluride Properties

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