Telluride Real Estate Market Reaches Six Year Highs

[Robert Warren]

Ski towns are in a unique category of investment.  Look into short term rentals and playing the appreciation game.  Hire a local expert that knows the local market.

sales data san miguel county telluride

The Telluride real estate market is at six-year highs for both the number and dollar volume of sales. Its a sellers market with lots of buyers and a small inventory. The market has been on fire during the first seven months of 2014 according to a report by Telluride Consulting.

During the first seven months of 2014 a total of 260 single-family home and condos sold. This is a 29 percent increase from 207 sales during the same period of time in 2013. The dollar volume for the same period increased 58 percent from $144.5 million in 2013 to $227.9 million in 2014.

According to the report single family homes and condos within the town of Telluride have been leading these sales figures. The prevailing sentiment is that buyers have changed from wanting large spacious houses and epic views to smaller, in-town properties close to the action.

Not only have sales increased but San Miguel County Treasurer Janice Stout reported that foreclosures are significantly down as well. The following table shows foreclosures for the first seven months of 2012, 2013, and 2014:

• 2012 - 62
• 2013 - 27
• 2014 - 16

Its a sellers market so if you want to sell, now is the time.