The first half of 2025 marks a significant shift in the Telluride real estate market, showcasing clear signs of stabilization. After a period of intense activity, demand has cooled from its previous frenetic pace while supply has improved, offering buyers more choices and greater leverage. This evolving balance benefits both buyers and sellers, creating a healthier market dynamic. Recorded sales volume is down 29% year-over-year. When accounting for unrecorded contracts, such as those at the Four Seasons, the overall transaction volume surpasses last year’s figures.