Telluride Real Estate Market Finishes 2017 at Ten-Year Record High

Friday, February 9, 2018   /   by Kimberly Corrigan

Telluride Real Estate Market Finishes 2017 at Ten-Year Record High

The Telluride real estate market’s total sales for 2017 finished at a ten-year record high. Sales were significantly better in dollar volume and number of transactions compared to 2016. With $616.1M in contracts  losed, sales are up 36% over 2016. The number of sales is up 10% with 618 closed transactions.

The Town of Telluride’s high demand and limited inventory continue to be driving factors in the price of single  family homes. With construction on nearly every block the past two years, vacant land sales have remained table, with single-family home sales seeing an increase. Finished construction projects helped drive single family home sales, which are up 11% in number and up 38% in dollar volume. Condo/townhomes sales continue to trade hands with the number of sales up 19%.

Mountain Village high-end luxury home sales continue to trend upwards. There were a record ten sales over $4M 2017. This market achievement boosted the dollar volume for Mountain Village single-family homes up 46%. With proximity to the ski resort along with rental income potential, Mountain Village condo/townhome sales remain an attractive purchase, with dollar volume up 27% compared to 2016.

The remainder of the county saw a 23% increase in dollar volume compared to 2016. The Ski Ranches and Aldasoro luxury neighborhoods saw increases in single-family home sales. Notably, the Ski Ranches had nearly quadruple the number of vacant land sales in 2017 over 2016. Its privacy, views, flexible building guidelines, and transfer tax exemption prove to be an attractive purchase for future home construction.

Entering 2018, the Telluride real estate market outlook is positive, with $83.6M in sales currently under contract according to the MLS.

  market update, telluride

Telluride Real Estate Corp.
232 West Colorado Ave.
Telluride, CO 81435

The data was last updated on February 24, 2024 ┬ęCopyright 2024 by Telluride Association of REALTORS, Inc. ALL RIGHTS RESERVED WORLDWIDE. No part of this publication may be reproduced, adapted, translated, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written consent of the Telluride Association of REALTORS, Inc.
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