Monthly Sales Up By As Much As 49 Percent
Pictured Above: Butch Cassidy Drive In Telluride, Colorado, Offered For Sale By Telluride Real Estate Corp For US$15,000,000
After an excellent winter in Telluride, Colorado, 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, reports exclusive affiliate Telluride Real Estate Corp. Sales in April—July increased at 18 percent, 21 percent, 49 percent and 34 percent, respectively. It certainly seems that momentum is gaining in the regional marketplace.
On another positive note, more than US$77 million is currently under contract which bodes well for the balance of the summer and autumn selling seasons. Sixty-seven properties sold or contracted year-to-date are priced over US$1 million with 37 priced between US$2 million—13.2 million (US$4.6 million 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 US$1 million, 14 sales above US$2 million, 7 sales between US$2.9 million—$6 million and those seven sales averaged US$1,097 per square foot. The Telluride Mountain Village Market continues to present excellent buyer opportunities with 67 homes currently in market above US$1 million. The Mountain Village experienced 32 transactions over the US$1 million price range during the same period, with 17 of those transactions priced between US$2 million—$12.5 million.
On another positive note, more than US$77 million is currently under contract which bodes well for the balance of the summer and autumn selling seasons. Sixty-seven properties sold or contracted year-to-date are priced over US$1 million with 37 priced between US$2 million—13.2 million (US$4.6 million 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 US$1 million, 14 sales above US$2 million, 7 sales between US$2.9 million—$6 million and those seven sales averaged US$1,097 per square foot. The Telluride Mountain Village Market continues to present excellent buyer opportunities with 67 homes currently in market above US$1 million. The Mountain Village experienced 32 transactions over the US$1 million price range during the same period, with 17 of those transactions priced between US$2 million—$12.5 million.
While historic Telluride is experiencing appreciation, the balance of the market segments have stabilized, but are not yet inflating. Historically speaking, the Town of Telluride has been the leading indicator for the regional marketplace after economic downturns. There are extraordinary opportunities in the overall market at 25—30 percent discounts off pre-recession pricing.
