2021 Telluride Real Estate Activity Report Q4 - Telluride Properties

Q4 REPORT 2021

ACTIVITY

137 Hood Park Road, Mountain Village - Offered at $36,800,000

The dust has settled on 2021 and it’s another one for the history books! San Miguel County’s real estate sales exceeded 2020’s dollar volume of $1.1b with a new record of $1.4b. That’s exciting news, yet most likely a peak for now. Buyer demand is still very strong; however, current owners aren’t anxious to give up their Telluride retreats without good reason.

Mountain Village continued to lead the market as the number of sales in Town decreased by 25% due to limited offerings. Vacant land sales were bolstered greatly by the lack of inventory in home and condo segments, with sales volume increasing by as much as 99% in certain areas of the county. The upper-end of the market also saw more action in 2021, with 65 sales over $5m versus 48 in 2020. Of those 65 sales, 11 were over $10m, including 115 Francisco Way in Aldasoro Ranch (Tom Cruise) at $39.5m, 398 W. Colorado Ave. in Town (Main Street Penthouse w/ Commercial) at $28m and 184 Butch Cassidy Drive in Mountain Village (Oprah) at $17m.

Interestingly, even though our demand has grown exponentially, our sales volume and property values still play second fiddle to Aspen ($4b), Vail ($3.3b) and Jackson Hole ($3b). Our inventory is far more limited than these “towns”, which makes for a smaller, more authentic community. This will prove to be why Telluride continues to be a desirable place to live and is primed for continued appreciation.

-Telluride Properties celebrated 35 years in business during 2021, and it was our most successful and challenging year yet. From navigating bidding wars and walking a knife’s edge to keep deals together, we are thankful for our client’s trust in us as their real estate advisors. As for our community, we are eternally grateful for all of the love and support we’ve been shown, personally and professionally. It truly does “take a village”, and ours is THE BEST.

#

$

Ç16% compared to 2020

Ç23% compared to 2020 $1.42B

$1.16B

944 814

562

2016

$621.1M

619 499

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 Stonegate Drive 1, Mountain Village, CO - Offered at $795,000 The information represented above is compiled from Telluride Consulting data ytd as of 12/31/2021 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

2

21

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

$2,250,000

0%

4 Bedrooms

3

8

$1,230,000 - $28,000,000*

$4,150,000

4%

5+ Bedrooms

1

7

$3,073,000 - $22,000,000

$8,756,000

4%

Studio & 1 Bedrooms

2

33

$230,000 - $1,250,000

$725,000

0%

2 Bedrooms

5

40

$559,000 - $3,250,000

$1,228,750

2%

3 Bedrooms

1

24

$1,001,000 - $6,800,000

$1,967,000

1%

4 Bedrooms

0

4

$1,350,000 - $6,250,000

$3,801,750

4%

5+ Bedrooms

0

2

$3,350,000 - $7,567,500

$5,458,750

3%

3

27

$390,000 - $5,000,000

$1,725,000

4%

Single Family Homes

Condominiums

Vacant Land All

*the sale for $28,000,000 included commercial space.

The information represented above is compiled from the Telluride MLS ytd as of 12/31/2021 and includes the Idarado Subdivision & Valley Floor. It excludes deed-restricted, commercial, & fractional properties.

2021 as of 12/31/2021 there have been 166 sales in the Town of Telluride for a total dollar volume of $413,924,244.

$ 36

Ç

13%

compared to ytd 2020

27

#

Ç

25%

compared to ytd 2020

103

$193,385,455

$51,381,000

$169,157,789

HOMES

LAND

CONDOS

Transfer Telluride - SJ1, Town of Telluride - Sold 10/15/2021 for $6,250,000 Listed & Sold by Telluride Properties

Town of Tel luride Number Available

Asking Price Range

Median Asking Price

2-3 Bedrooms

1

$3,825,000

--

4 Bedrooms

3

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

$4,250,000

5+ Bedrooms

5

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

$14,500,000

Studio & 1 Bedrooms

8

$639,000 - $1,395,000

$899,000

2 Bedrooms

6

$1,250,000 - $1,850,000

$1,760,000

3 Bedrooms

4

$2,250,000 - $4,950,000

$3,447,500

4 Bedrooms

2

$4,395,000 - $13,950,000*

$9,172,500

5+ Bedrooms

0

--

--

7

$749,000 - $3,500,000

$2,495,000

Single Family Homes

Condominiums

Vacant Land All

*the 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 12/31/2021 and includes the Idarado Subdivision & Valley Floor. It excludes deed-restricted, commercial, & fractional properties.

548 West Pacific Avenue C, Town of Telluride - Offered at $1,250,000

Mountain V il lage Under Contract

Number Sold

Sold Price Range

Median Sold Price

Median % Off Asking $

3 Bedrooms

0

4

$1,900,000 - $2,950,000

$2,535,000

3%

4 Bedrooms

2

18

$1,990,000 - $8,400,000

$3,950,000

0%

5 Bedrooms

3

11

$2,950,000 - $17,000,000

$4,875,000

1%

6+ Bedrooms

4

16

$3,250,000 - $8,400,000

$7,025,000

5%

Studio & 1 Bedrooms

4

47

$149,800 - $1,650,000

$365,000

0%

2 Bedrooms

5

29

$476,000 - $2,275,000

$955,000

1%

3 Bedrooms

4

31

$711,500 - $4,750,000

$2,195,000

0%

4 Bedrooms

3

22

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

$3,162,500

2%

5+ Bedrooms

0

8

$2,180,000 - $5,275,000

$2,850,000

2%

4

71

$249,000 - $10,500,000

$725,000

6%

Single Family Homes

Condominiums

Vacant Land All

The information represented above is compiled from the Telluride MLS ytd as of 12/31/2021, it excludes deed-restricted, commercial, & fractional properties.

2021 as of 12/31/2021 there have been 257 sales in Mountain Village for a total dollar volume of $556,388,537.

$ 49

Ç37%

compared to ytd 2020

71

#

Ç19%

compared to ytd 2020

137

$265,508,750

$74,524,888

$216,354,899

HOMES

LAND

CONDOS

127 Polecat Lane, Mountain Village - Sold 10/7/2021 for $8,400,000 Listed & Sold by Telluride Properties

Mountain V il lage Number Available

Asking Price Range

Median Asking Price

3 Bedrooms

1

$5,000,000

--

4 Bedrooms

1

$3,995,000

--

5 Bedrooms

6

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

$9,950,000

6+ Bedrooms

9

$4,500,000 - $36,800,000

$14,100,000

Studio & 1 Bedrooms

4

$275,000 - $1,175,000

$374,450

2 Bedrooms

3

$660,000 - $1,475,000

$660,000

3 Bedrooms

3

$1,250,000 - $3,100,000

$2,900,000

4 Bedrooms

2

$3,590,000 - $7,495,000

$5,542,500

5+ Bedrooms

1

$5,695,000

--

23

$650,000 - $4,750,000

$1,995,000

Single Family Homes

Condominiums

Vacant Land All

The information represented above is compiled from Telluride MLS data ytd as of 12/31/2021, 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

3

22

$349,000 - $11,450,000

$1,742,000

1%

Deep Creek Mesa

0

36

$395,000 - $39,500,000

$1,014,750

2%

Down Valley

1

10

$235,000 - $1,200,000

$415,000

1%

Wilson Mesa

2

12

$200,000 - $5,325,000

$585,000

5%

Specie Mesa

0

18

$187,500 - $5,500,000

$355,000

5%

Hastings Mesa

3

20

$95,000 - $2,650,000

$576,250

4%

Iron Springs/Horsefly Mesa

4

32

$108,000 - $4,975,000

$335,500

5%

Ilium/Ames

0

2

$1,850,000 - $3,500,000

$2,650,000

1%

Ophir

1

21

$150,000 - $1,200,000

$240,000

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 12/31/2021, it excludes deed-restricted, commercial, & fractional properties. It includes homes and land.

706 Wilson Way, Gray Head- Deep Creek Mesa - Sold 10/8/21 for $9,450,000 Listed by Telluride Properties

Surround ing Areas Number Available

Asking Price Range

Median Asking Price

Turkey Creek Mesa

5

$995,000 - $21,500,000

$1,775,000

Deep Creek Mesa

8

$1,100,000 - $27,000,000

$7,375,000

Down Valley

2

$99,000 - $1,500,000

$799,500

Wilson Mesa

5

$1,095,000 - $7,995,000

$4,250,000

Specie Mesa

9

$775,000 - $35,000,000

$1,980,000

Hastings Mesa

12

$225,000 - $48,000,000

$2,500,000

Iron Springs/Horsefly Mesa

30

$199,000 - $6,395,000

$362,500

Ilium/Ames

2

$1,325,000 - $1,495,000

$1,410,000

Ophir

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 12/31/2021, it excludes deed-restricted, commercial, & fractional properties. It includes homes and land.

Lot 28, Elk Run - Turkey Creek Mesa - Offered at $995,000

2021 Sales Highlights Tel luride Propert ies

RECORD-BREAKING RESIDENTIAL HOME SALE IN THE TOWN OF TELLURIDE Represented Seller / $22,000,000

198/165 # OF BUYERS AND SELLERS

That we were able to advise & help to achieve their real estate goals.

$11,450,000

$10,500,000

1%

$9,550,000

$9,500,000

$9,450,000

$8,756,000

$8,400,000

$8,400,000

MEDIAN OFF ASKING PRICE For Seller represented listings.

48%

OF TELLURIDE MLS SALES $5M+ Represented Seller and/or Buyer in 32 mls sales, $5,000,000 and above.

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