Monthly Real Estate Sales In Telluride Up As Much As 49% in 2012

After an excellent winter in Telluride with over 17 feet of snow and an uptick in both retail sales and skier days, the real estate marketplace began to gain momentum in March with a 40% increase in gross dollar sales over the same month in 2011.  Sales in April – July increased at 18%, 21%, 49% and 34%, respectively.   It certainly seems that momentum is gaining in our marketplace. 

On another very positive note, over $77M is currently under contract which bodes well for the balance of the summer selling season. 67 properties sold or contracted YTD are over $1M with 37 between $2M - $13.2M ($4.6M average), so it appears as the upper end of the market is experiencing a bit of a revival.

During the past 12 months, the Town of Telluride seemingly has been the market leader with 25 sales over $1M, 14 sales above $2M, 7 sales between $2.9M - $6M and those seven sales averaged $1,097 PSF. The Telluride Mountain Village Market continues to present excellent buyer opportunities with 67 homes currently in market above $1M.  The Mountain Village experienced 32 transactions over $1M during the same period, 17 of those transactions were between $2M - $12.5M.

While Historic Telluride is experiencing appreciation, the balance of the market segments have stabilized, but are not inflating as of yet.  Historically speaking, the Town of Telluride has been the leading indicator for our marketplace after economic downturns.  There are extraordinary opportunities in the overall market at 25% - 30% discounts off of pre-recession pricing. 

For more information on Telluride real estate, please contact Telluride Real Estate Corp. at 970.728.3111, 970.728.6655, info@telluriderealestatecorp.com, www.telluriderealestatecorp.com.