2021 Telluride Real Estate Activity Report Q3 - Telluride Properties

Page 1

Q3

ACTIVITY 2021

REPORT

209 E. Colorado Avenue, Town of Telluride - Offered at $13,950,000


Nothing like a pandemic to lift a market! San Miguel County real estate sales have surpassed $1b through the end of September and are on track to eclipse last year’s $1.16b record. Mountain Village and surrounding areas have carried the market, as buyers have come to recognize the attractiveness of values and lifestyle opportunities there. Downtown Telluride sales have slowed, simply because there has been very little inventory. Of recent importance, is the advent of properties contracting over $10m and $20m. No longer are sales over these thresholds considered an anomaly. Telluride is clearly maturing quickly and with its limited supply, suggests continued appreciation. Despite historically low inventories, we at Telluride Properties continue to find properties for buyers. As values continue to creep up, owners decide to sell, slowly introducing new inventory to the market. This is where Telluride Properties excels at finding properties early and winning negotiations for buyers. These new residents are seemingly choosing Telluride for the same reasons as longtime locals and are quickly becoming a part of the community. Like many towns across the globe, Telluride hasn’t been exempted from the growing pains of limited workforce housing and short-staffed businesses, a constant battle being exacerbated by the pandemic. Nevertheless, every stakeholder, including part-time residents, are working together to solve these problems as the Telluride Ski Company, Town of Mountain Village, and Town of Telluride are planning and/or under construction on new housing projects. Most importantly, Telluride still remains a small town with a big heart and a tremendous appetite for adventure. Looking to the future, the Four Seasons continues its march towards reality, the hotel next to the Post Office in Town is in the construction drawings phase and four new projects are in planning phases in Mountain Village on Lots 109R, 27A, 126/152 and 30. On October 6th, the Telluride Ski Company announced plans for the following infrastructure upgrades to the ski area: four new lifts including Lift 9 as a high speed quad and Lift 10 as a Gondola, improved snowmaking, restaurants and hotel developments. A huge driving force in our market has always been the easy access to uncrowded, outdoor adventure and with that lifestyle more in-demand than ever with the advent of remote working, Telluride will remain at the top of people’s list. The rising tide looks very strong. There is no better time to join the Telluride Community.


#

$

Ç45% compared to 2020 ytd

Ç57% compared to 2020 ytd $1.16B $1B ytd

814 711 ytd $621.1M

619 562

2016

499

2017

2018

540

$537.5M

$594.3M

$452.8M

2019

2020

2021

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

2016

2017

2018

2019

2020

2021

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

TBD M44 Road 13-5, Placerville, CO - Offered at $1,250,000 The information represented above is compiled from Telluride Consulting data ytd as of 9/30/2021 and represents all sales in San Miguel County.


Town of Tel luride Under Contract

Number Sold

Sold Price Range

Median Sold Price

Median % Off Asking $

2-3 Bedrooms

1

20

$1,100,000 - $5,545,000

$2,350,000

0%

4 Bedrooms

2

4

$1,230,000 - $3,975,000

$2,595,000

3%

5+ Bedrooms

1

6

$3,073,000 - $14,500,000

$7,403,000

4%

Studio & 1 Bedrooms

6

21

$295,000 - $1,188,000

$655,000

0%

2 Bedrooms

4

31

$559,000 - $3,100,000

$1,140,000

1.6%

3 Bedrooms

2

14

$1,001,000 - $4,470,000

$1,450,000

1.4%

4 Bedrooms

1

3

$1,350,000 - $5,600,000

$2,003,500

3%

5+ Bedrooms

1

1

$3,350,000

--

0%

1

25

$390,000 - $5,000,000

$1,725,000

4%

Single Family Homes

Condominiums

Vacant Land All

The information represented above is compiled from the Telluride MLS ytd as of 9/30/2021 and includes the Idarado Subdivision & Valley Floor. It excludes deed-restricted, commercial, & fractional properties.


2021 as of 9/30/2021 there have been 125 sales in the Town of Telluride for a total dollar volume of $254,026,639.

$ 30

Ç

18%

compared to ytd 2020

25

#

Ç

21%

compared to ytd 2020

70

$114,251,000

$47,111,000

$92,664,639

HOMES

LAND

CONDOS

360 North Willow Street, Town of Telluride - Sold 9/13/2021 for $5,545,000 Listed & Sold by Telluride Properties


Town of Tel luride Number Available

Asking Price Range

Median Asking Price

2-3 Bedrooms

2

$4,250,000

--

4 Bedrooms

7

$3,795,000 - $18,000,000

$4,850,000

5+ Bedrooms

5

$4,595,000 - $25,000,000

$14,500,000

Studio & 1 Bedrooms

6

$345,000 - $1,395,000

$847,000

2 Bedrooms

5

$1,427,000 - $1,939,000

$1,775,000

3 Bedrooms

8

$1,495,000 - $5,650,000

$3,522,500

4 Bedrooms

3

$5,150,000 - $29,500,000*

$13,950,000

5+ Bedrooms

--

--

--

9

$749,000 - $3,500,000

$2,495,000

Single Family Homes

Condominiums

Vacant Land All

*an offering for $13,950,000 in this price range also includes commercial space.

The information represented above is compiled from the Telluride MLS ytd as of 9/30/2021 and includes the Idarado Subdivision & Valley Floor. It excludes deed-restricted, commercial, & fractional properties.


412 W. Pacific Avenue B, Town of Telluride - Offered at $5,150,000


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

5

10

$1,990,000 - $5,895,000

$3,073,500

1%

5 Bedrooms

5

6

$2,950,000 - $6,546,350

$4,027,575

1%

6+ Bedrooms

2

15

$3,250,000 - $8,100,000

$6,900,000

6%

Studio & 1 Bedrooms

3

38

$149,800 - $1,650,000

$382,250

1%

2 Bedrooms

--

28

$476,000 - $2,275,000

$1,002,500

1%

3 Bedrooms

3

26

$711,500 - $3,515,000

$2,172,500

0%

4 Bedrooms

4

17

$1,100,000 - $5,900,000

$3,250,000

2%

5+ Bedrooms

1

6

$2,180,000 - $3,800,000

$2,850,000

3%

11

56

$249,000 - $10,500,000

$600,000

7%

Single Family Homes

Condominiums

Vacant Land All

The information represented above is compiled from the Telluride MLS ytd as of 9/30/2021, it excludes deed-restricted, commercial, & fractional properties.


2021 as of 9/30/2021 there have been 205 sales in Mountain Village for a total dollar volume of $390,358,787.

$ 34

Ç88%

compared to ytd 2020

56

#

Ç80%

compared to ytd 2020

115

$164,664,000

$48,996,888

$176,697,899

HOMES

LAND

CONDOS

130 Touchdown Drive Mountain Village - Sold 8/13/2021 for $5,895,000 Listed by Telluride Properties


Mountain V il lage Number Available

Asking Price Range

Median Asking Price

3 Bedrooms

1

$5,000,000

--

4 Bedrooms

1

$6,950,000

--

5 Bedrooms

4

$4,250,000 - $14,850,000

$10,200,000

6+ Bedrooms

11

$5,950,000 - $36,800,000

$8,995,000

Studio & 1 Bedrooms

1

$895,000

--

2 Bedrooms

1

$698,000

--

3 Bedrooms

3

$899,000 - $4,750,000

$3,250,000

4 Bedrooms

3

$4,175,000 - $7,995,000

$4,245,000

5+ Bedrooms

1

$2,500,000

--

23

$469,000 - $2,750,000

$1,375,000

Single Family Homes

Condominiums

Vacant Land All

The information represented above is compiled from Telluride MLS data ytd as of 9/30/2021, it excludes deed-restricted, commercial, & fractional properties.


103 Granite Ridge Drive, Mountain Village - Offered at $8,995,000


Surround ing Areas Under Contract

Number Sold

Sold Price Range

Median Sold Price

Median % Off Asking $

Turkey Creek Mesa

--

20

$349,000 - $11,450,000

$2,050,000

2%

Deep Creek Mesa

3

28

$395,000 - $39,500,000

$867,500

2%

Down Valley

1

8

$235,000 - $1,200,000

$510,000

1%

Wilson Mesa

1

9

$200,000 - $5,325,000

$450,000

6%

Specie Mesa

3

12

$197,000 - $2,467,232

$252,500

5%

Hastings Mesa

3

17

$95,000 - $2,650,000

$585,000

4%

Iron Springs/Horsefly Mesa

1

28

$108,000 - $4,975,000

$328,000

5%

Ilium/Ames

2

--

--

--

--

Ophir

2

17

$150,000 - $1,200,000

$215,000

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

The information represented above is compiled from Telluride MLS data ytd as of 9/30/2021, it excludes deed-restricted, commercial, & fractional properties. It includes homes and land.


Gold Creek Ranch, Alta Lakes - Turkey Creek Mesa - Sold 8/31/21 for $11,450,000 Listed by Telluride Properties


Surround ing Areas Number Available

Asking Price Range

Median Asking Price

Turkey Creek Mesa

8

$595,000 - $21,500,000

$1,685,000

Deep Creek Mesa

11

$950,000 - $27,000,000

$4,600,000

Down Valley

1

$215,000

--

Wilson Mesa

7

$995,000 - $24,500,000

$1,695,000

Specie Mesa

14

$195,000 - $35,000,000

$1,787,500

Hastings Mesa

13

$220,000 - $48,000,000

$1,395,000

Iron Springs/Horsefly Mesa

36

$199,000 - $6,395,000

$362,500

Ilium/Ames

1

$1,325,000

--

Ophir

1

$240,000

--

(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 9/30/2021, it excludes deed-restricted, commercial, & fractional properties. It includes homes and land.


257 Saddle Horn Lane - Lot 7, Ski Ranches - Turkey Creek Mesa - Offered at $770,000


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