2020 Telluride Real Estate Activity Report Q3 - Telluride Properties

Q3 REPORT Telluride Real Estate

2020

ACTIVITY

706 Wilson Way, Gray Head - Offered at $9,950,000

As 2020 has so clearly illustrated, there is never any certainty. The world, and the Telluride market, has turned topsy turvy. Fortunately for Telluride it has been vastly for the better. If a Telluride prognosticator were to tell you in January that by the end of the third quarter that tourism was going to come to a screeching halt, the ski mountain was abruptly closing, that sales tax revenues were going to fall of a cliff and that all festivals and the beloved big community event of the year, July 4th, were all going to be canceled, yet real estate records were going to be set, you’d think they were a quack. The last four months have been more momentous than any other time in Telluride’s history, save for the visionary 1972 opening of the ski area by Joe & Jebby Zoline with the passionate guidance of Senior Mahoney and Emile Allais, or the discovery of the alternating current of electricity

by Nikola Tesla transforming the mining industry and the world forever, and the huge leap of faith when former ski area owners Ron Allred and Jim Wells made North America’s first and still only free gondola public transportation system become reality. It’s those leaps of faith that Telluride Properties’ brokers are guiding their clients into making.

And buyers are leaping faithfully, indeed. Since June 2020, nearly 500 properties have contracted or sold totaling over $500 million. The third quarter of 2020 produced a dollar volume of more than $373 million, which is an all-time dollar volume high for any one quarter and surpasses the total dollar volume for some full calendar years including 2010 through 2013.

There are no guarantees when it comes to value. There is never any certainty. The property you buy today will likely be worth more but possibly worth less when you sell it. What can’t be calculated are all the emotions and the memories. How it impacted your happiness. How it improved your life. A Telluride purchase is your HOME. Not a stock certificate or a retirement account. It’s where you live every day. And this year, more than ever before, this region is filled with lights on at night, families who were at one point second homeowners who have now relocated to an incredible place that was recently awarded top 10 honors for being the healthiest county in America. The people, things and experiences making up your everyday are the bricks that build a life and a home - your partner, your kids, pets, your favorite living spaces, the views and access to the great outdoors. These can’t be quantified in a spreadsheet and they shouldn’t be. It’s much more than a financial investment. It’s where you make your life. Price is what you pay, memories are what you make!

San Miguel County Overview # 555

2015

562

2016

$

Ç37% compared to ytd 2019

619 499

2017

2018

540

2019

491 ytd

2020

# of Tr ans act i ons San Mi g u e l Count y

Ç94% compared to ytd 2019

$621.1M $537.5M

594.3M

638.5M ytd

$461.8M $452.8M

2015

2016

2017

2018

2019

2020

Dol l ar Vo l u me San Miguel C ount y

Lot 238 Hang Glider Drive, Mountain Village - Offered at $1,900,000 The information represented above is compiled from Telluride Consulting data ytd as of 9/30/2020 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

5

7

$1,068,000 - $4,487,500

$2,050,000

9%

4 Bedrooms

2

20

$855,000 - $7,150,000

$2,432,000

3%

5+ Bedrooms

4

8

$2,787,500 - $7,496,850

$4,575,000

5%

Studio & 1 Bedrooms

3

34

$160,000 - $675,000

$370,000

4%

2 Bedrooms

11

19

$492,500 - $2,075,000

$800,000

3%

3 Bedrooms

2

23

$865,000 - $3,600,000

$1,950,000

3%

4 Bedrooms

4

9

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

$3,150,000

5%

5+ Bedrooms

0

7

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

$5,250,000

5%

6

15

$187,553 - $6,100,000

$1,075,000

6%

Single Family Homes

Condominiums

Vacant Land All

The information represented above is compiled from the Telluride MLS ytd as of 9/30/2020 and includes the Idarado subdivision & Valley Floor. It excludes deed-restricted, commercial, & fractional properties.

ytd 2020

as of 9/30/2020 there have been 149 sales in the Town of Telluride for a total dollar volume of $303,812,878.

$

Ç132%

42

compared to ytd 2019

15

#

Ç77% compared to ytd 2019

92

$125,510,378

$20,733,000

$157,569,500

HOMES

LAND

CONDOS

522 West Columbia Avenue, Town of Telluride - Sold 9/15/2020 for $5,675,000 Listed by Telluride Properties

What’s For Sale?

Town of Tel luride Number Available

Asking Price Range

Median Asking Price

3 Bedrooms

6

$1,950,000 - $5,999,999

$3,695,000

4 Bedrooms

5

$1,350,000 - $18,000,000

$4,275,000

5+ Bedrooms

5

$5,795,000 - $9,970,000

$6,895,000

Studio & 1 Bedrooms

4

$495,000 - $995,000

$683,500

2 Bedrooms

8

$663,450 - $3,050,000

$1,167,500

3 Bedrooms

6

$1,189,000 - $1,850,000

$1,535,000

4 Bedrooms

4

$1,395,000 - $4,450,000

$2,692,500

5+ Bedrooms

1

$2,695,000

--

15

$669,000 - $5,000,000

$1,895,000

Single Family Homes

Condominiums

Vacant Land All

The information represented above is compiled from the Telluride MLS ytd as of 9/30/2020 and includes the Idarado subdivision & Valley Floor. It excludes deed-restricted, commercial, & fractional properties.

425 East Galena Avenue, Town of Telluride - Offered at $9,970,000

What’s Selling?

Mountain V il lage Under Contract

Number Sold

Sold Price Range

Median Sold Price

Median % Off Asking $

3 Bedrooms

1

2

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

$3,985,000

2%

4 Bedrooms

12

10

$1,255,000 - $3,715,000

$2,465,000

4%

5 Bedrooms

1

8

$3,560,000 - $6,600,000

$4,150,000

6%

6+ Bedrooms

3

6

$4,550,000 - $7,900,000

$6,387,093

1%

Studio & 1 Bedrooms

7

13

$129,500 - $880,000

$270,000

2%

2 Bedrooms

8

16

$345,000 - $2,100,000

$562,500

3%

3 Bedrooms

9

12

$546,000 - $2,800,000

$1,625,000

2%

4 Bedrooms

5

11

$1,785,000 - $4,400,000

$2,800,000

1%

5+ Bedrooms

1

4

$2,450,000 - $4,200,000

$2,637,500

6%

14

25

$194,000 - $1,850,000

$475,000

10%

Single Family Homes

Condominiums

Vacant Land All

The information represented above is compiled from the Telluride MLS ytd as of 9/30/2020, it excludes deed-restricted, commercial, & fractional properties.

ytd 2020

as of 9/30/2020 there have been 107 sales in Mountain Village for a total dollar volume of $202,425,861.

$ 26

Ç70%

compared to ytd 2019

25

#

Ç41%

compared to ytd 2019

56

$107,739,393

$14,845,000

$79,841,468

HOMES

LAND

CONDOS

133 Victoria Drive, Mountain Village - Sold 8/4/2020 for $6,400,000 Listed by Telluride Properties

What’s For Sale?

Mountain V il lage Number Available

Asking Price Range

Median Asking Price

3 Bedrooms

5

$2,100,000 - $3,800,000

$2,750,000

4 Bedrooms

3

$1,895,000 - $6,750,000

$2,100,000

5 Bedrooms

10

$2,995,000 - $6,600,000

$4,325,000

6+ Bedrooms

16

$3,500,000 - $13,400,000

$6,997,000

Studio & 1 Bedrooms

19

$170,000 - $879,000

$450,000

2 Bedrooms

14

$435,000 - $1,595,000

$669,500

3 Bedrooms

8

$1,495,000 - $3,350,000

$2,250,000

4 Bedrooms

8

$1,450,000 - $4,400,000

$2,297,000

5+ Bedrooms

5

$2,149,000 - $4,495,000

$3,250,000

63

$275,000 - $5,000,000

$850,000

Single Family Homes

Condominiums

Vacant Land All

The information represented above is compiled from Telluride MLS data ytd as of 9/30/2020, it excludes deed-restricted, commercial, & fractional properties.

Stargazer Peaks Penthouse, Mountain Village - Offered at $2,536,000

What’s Selling?

Surround ing Areas Under Contract

Number Sold

Sold Price Range

Median Sold Price

Median % Off Asking $

Turkey Creek Mesa

6

26

$255,000 - $13,250,000

$1,376,500

6%

Deep Creek Mesa

11

15

$320,000 - $4,800,000

$875,000

7%

Down Valley

0

7

$215,000 - $850,000

$675,000

8%

Wilson Mesa

4

13

$100,000 - $1,817,500

$375,000

5%

Specie Mesa

2

4

$155,000 - $910,000

$250,000

10%

Hastings Mesa

2

6

$190,000 - $938,000

$398,500

3%

Iron Springs/Horsefly Mesa

8

7

$100,000 - $1,400,000

$775,000

7%

Ilium/Ames

1

0

--

--

--

Ophir

1

5

$145,000 - $504,000

$439,000

3%

(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 9/30/2020, it excludes deed-restricted, commercial, & fractional properties.

1073 Elk Run, Turkey Creek Mesa - Sold 9/10/2020 for $5,800,000 Sold by Telluride Properties

What’s For Sale?

Surround ing Areas Number Available

Asking Price Range

Median Asking Price

Turkey Creek Mesa

14

$420,000 - $14,400,000

$1,410,000

Deep Creek Mesa

29

$469,000 - $29,000,000

$2,350,000

Down Valley

4

$249,900 - $1,125,000

$470,000

Wilson Mesa

9

$199,000 - $24,500,000

$699,000

Specie Mesa

25

$197,500 - $35,000,000

$825,000

Hastings Mesa

19

$107,000 - $8,000,000

$745,000

Iron Springs/Horsefly Mesa

35

$115,000 - $4,975,000

$395,000

Ilium/Ames

3

$388,000 - $3,395,000

$1,850,000

Ophir

6

$160,000 - $349,000

$183,750

(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 9/30/2020, it excludes deed-restricted, commercial, & fractional properties.

114 Aguirre Road - Aldasoro Ranch, Turkey Creek Mesa - Offered at $5,900,000

Telluride Properties has participated in 50% of the dollar volume for San Miguel County MLS Sales through the third 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