2018 Telluride Real Estate Activity Report Q4 - Telluride Properties

Q4 REPORT Telluride Real Estate

2018

ACTIVITY

121 North Spruce Street, Town of Telluride - Offered at $4,880,000

San Miguel County Overview 523

555

562

$621.1M

619 499 YTD

410

2013

$507.1M

$461.8M $452.8M

537.5 YTD

$342.2M

2014

2015

2016

2017

2018

# of Tr ansact i on s S an Mi g uel C ount y

2013

2014

2015

2016

2017

Dol l ar Vo l u me San Mig uel C ount y

Gold Creek Ranch, Alta Lakes - Offered at $16,900,000 or $20,000,000 (includes 127 N. Oak St.) The information represented above is compiled from Telluride Consulting data ytd as of 12/31/18 and represents all sales in San Miguel County.

2018

Despite the worst winter drought since 1976, San Miguel County real estate boasted its second best year since 2009 with $537.5M in total sales based on 499 transactions. Dwindling inventory in a variety of market sectors and trying to keep pace with the stellar year of 2017 contributed to a year-over-year decline of 13% in overall sales volume and 19% decrease in transaction volume. Homes in the Town of Telluride continued to be a hot market sector. Four bedroom homes ranging from $1,150,000 to $5,290,000 drew the most attention with 15 sales. A trend emerged that homes considered as projects with potential upside or new and remodeled homes finished to a high level were in greatest demand. Town of Telluride Condominiums showed continued strength, however, diminishing inventory proved to be a factor with 14% less sales in this market sector.

Mountain Village demonstrated a surge in activity for 4 and 5 bedroom homes priced between $1,300,000 and $4,300,000. Mountain Village condominiums were also an active market sector.

All 3 and 4 bedroom, single level condominium units listed in Mountain Village sold in 2018 or have been placed under contract with no inventory of this kind currently on the market.

The Mountain Village market also responded well to new and remodeled single family and condominium product. Lastly, improved ranch properties on 100 acres or greater rebounded with several sales leaving very limited inventory for this type of product heading into 2019.

The region has been blessed with great snow in 2019 and with Mountain Village experiencing 4 sales in the first two weeks of the first quarter, early signs indicate that the market is holding steady despite a tedious interest rate environment and trade war concerns with China. The Christmas holiday was a smashing success and I anticipate the Telluride region will experience continued demand for quality product with sales escalating in February and March which will set the tone for another strong year.

What’s Selling?

Town of Tel luride Under Contract

Number Sold

Sold Price Range

Average Sold Price

Average % Off Asking $

3 Bedrooms

1

6

$1,200,000 - $2,437,000

$1,858,728

5%

4 Bedrooms

1

15

$1,150,000 - $5,290,000

$2,915,000

6%

5+ Bedrooms

1

5

$2,175,000 - $7,688,000

$4,609,600

6%

Studio & 1 Bedrooms

1

33

$160,000 - $700,000

$364,276

3%

2 Bedrooms

1

18

$420,000 - $1,848,000

$759,361

4%

3 Bedrooms

0

25

$659,000 - $2,780,000

$1,303,450

7%

4 Bedrooms

1

6

$1,035,000 - $3,095,000

$1,634,167

7%

5+ Bedrooms

1

4

$2,270,000 - $7850,000

$4,655,000

4%

2

9

$185,000 - $3,200,000

$1,038,889

13%

Single Family Homes

Condominiums

Vacant Land All

The information represented above is compiled from the Telluride MLS ytd as of 12/31/2018, it includes the Idarado subdivision and the valley floor to airport road. It excludes deedrestricted, commercial, & fractional properties.

ytd 2018

as of 12/31/2018 there have been 121 sales in Town of Telluride for a total dollar volume of $173,976,228.

$ 26

10% compared to ytd 2017

9

#

22% compared to ytd 2017

86

$77,925,365

$9,350,000

$86,700,863

HOMES

LAND

CONDOS

301 North Oak Street, Town of Telluride - Sold 12/13/2018 for $5,290,000 Listed & Sold by Telluride Properties

127 North Oak Street, Town of Telluride - Offered at $8,500,000 or $20,000,000 (includes Gold Creek Ranch)

What’s For Sale?

Town of Tel luride

Number Available

Asking Price Range

Average Asking Price

3 Bedrooms

10

$925,000 - $4,495,000

$2,540,500

4 Bedrooms

9

$985,000 - $6,125,000

$3,234,556

5+ Bedrooms

11

$2,155,000 - $9,995,000

$5,116,364

Studio & 1 Bedrooms

8

$160,000 - $899,000

$558,625

2 Bedrooms

14

$389,000 - $3,050,000

$1,296,725

3 Bedrooms

10

$885,000 - $3,695,000

$2,134,400

4 Bedrooms

10

$1,295,000 - $8,150,000

$4,007,000

5+ Bedrooms

7

$4,500,000 - $6,650,000

$5,642,857

17

$669,000 - $5,000,000

$2,038,764

Single Family Homes

Condominiums

Vacant Land All

The information represented above is compiled from Telluride MLS data ytd as of 12/31/2018, it includes the Idarado subdivision and the valley floor to airport road. It excludes deed-restricted, commercial, & fractional properties

What’s Selling?

Mountain V il lage Under Contract

Number Sold

Sold Price Range

Average Sold Price

Average % Off Asking $

3 Bedrooms

0

3

$885,000 - $2,345,000

$1,681,667

4%

4 Bedrooms

1

9

$1,300,000 - $3,850,000

$2,561,664

6%

5 Bedrooms

0

6

$2,250,000 - $4,300,000

$3,048,333

8%

6+ Bedrooms

0

5

$2,700,000 - $6,510,000

$4,357,000

7%

Studio & 1 Bedrooms

1

19

$140,000 - $970,000

$330,776

5%

2 Bedrooms

1

15

$340,000 - $1,575,000

$745,300

6%

3 Bedrooms

1

27

$445,000 - $2,250,000

$1,345,956

4%

4 Bedrooms

1

11

$675,000 - $4,700,000

$2,173,182

7%

5+ Bedrooms

1

4

$1,549,000 - $3,250,000

$2,212,250

8%

0

22

$155,000 - $8,150,000

$1,065,659

12%

Single Family Homes

Condominiums

Vacant Land All

The information represented above is compiled from the Telluride MLS ytd as of 12/31/2018, it excludes deed-restricted, commercial, & fractional properties.

ytd 2018

as of 12/31/2018 there have been 121 sales in Mountain Village for a total dollar volume of $178,178,522.

$ 23

$68,174,972 HOMES

128 Singletree Ridge, Mountain Village - Sold 10/25/2018 for $3,290,000 Listed by Telluride Properties

ďƒˆ25%

compared to ytd 2017

22

$23,444,500 LAND

#

ďƒˆ14%

compared to ytd 2017

76

$86,559,050 CONDOS

538 Benchmark Drive, Mountain Village - Offered at $4,600,000

What’s For Sale?

Mountain V il lage

Number Available

Asking Price Range

Average Asking Price

3 Bedrooms

4

$2,995,000 - $4,600,000

$3,760,000

4 Bedrooms

12

$2,085,000 - $7,295,000

$4,450,833

5 Bedrooms

18

$3,495,000 - $6,950,000

$5,386,611

6+ Bedrooms

20

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

$6,595,600

Studio & 1 Bedrooms

15

$162,500 - $749,500

$407,800

2 Bedrooms

17

$399,000 - $1,595,000

$651,412

3 Bedrooms

21

$510,000 - $3,995,000

$1,904,429

4 Bedrooms

22

$785,000 - $5,600,000

$3,018,727

5+ Bedrooms

9

$1,695,000 - $4,500,000

$3,062,667

72

$195,000 - $6,950,000

$988,173

Single Family Homes

Condominiums

Vacant Land All

The information represented above is compiled from Telluride MLS data ytd as of 12/31/2018, 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

0

18

$330,000 - $8,000,000

$1,325,000

4%

Deep Creek Mesa

1

15

$360,000 - $7,500,000

$960,000

5%

Down Valley

0

8

$83,000 - $737,500

$483,500

5%

Wilson Mesa

1

9

$115,000 - $4,725,000

$674,550

8%

Specie Mesa

0

3

$425,000 - $3,250,000

$2,700,000

14%

Hastings Mesa

1

9

$160,000 - $2,350,000

$233,000

6%

Iron Springs/Horsefly Mesa

4

10

$70,000 - $1,015,000

$400,000

7%

Ilium/Ames

0

0

--

--

--

Ophir

0

6

$183,100 - $685,000

$267,500

2%

(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 12/31/2018, it excludes deed-restricted, commercial, & fractional properties.

72 Deer Park Lane, Ski Ranches (Turkey Creek Mesa) - Sold 12/12/2018 for $2,125,000 Listed by Telluride Properties

315 Bluff View Drive (Iron Springs/Horsefly Mesa) - Offered at $1,850,000

What’s For Sale?

Surround ing Areas Number Available

Asking Price Range

Median Asking Price

Turkey Creek Mesa

27

$325,000 - $20,000,000

$1,350,000

Deep Creek Mesa

44

$399,000 - $29,500,000

$1,549,500

Down Valley

7

$195,000 - $895,000

$495,000

Wilson Mesa

18

$199,000 - $34,500,000

$788,500

Specie Mesa

24

$210,000 - $15,400,000

$712,000

Hastings Mesa

20

$125,000 - $3,800,000

$264,500

Iron Springs/Horsefly Mesa

40

$75,000 - $17,950,000

$337,500

Ilium/Ames

2

$1,650,000 - $3,395,000

$2,522,500

Ophir

3

$205,000 - $548,000

$210,000

(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 12/31/2018, it excludes deed-restricted , commercial, & fractional properties.

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Telluride Properties participated in 34% of the dollar volume for Telluride MLS Sales in 2018, while only representing 8% of all Realtors in Telluride.

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