Record-Setting Q1 Sets the Stage for 2021
The pandemic has certainly made an impact on the entire world – and in Telluride, we’ve seen it most in real estate, where San Miguel County just saw the largest 1st quarter in history.
Click here to read the full Q1 real estate report, or take a peek at the highlights with our insight below.
Dwindling inventory has forced buyers to be quick to make an offer, while many homeowners are considering selling their properties despite it never crossing their minds before. One thing is for certain – homes are not lasting long on the market, but we can help navigate the intricacies of the Telluride area.
With limited property available in the town of Telluride, we found that many buyers were flocking to Mountain Village to get bigger properties at a more affordable price. For Q1, there were 32 sales in the Town of Telluride for $56,473,500, a number that was down 41% compared to 2020. Moreover, Mountain Village saw 79 sales in Q1 for $135,503,338, which was a 173% dollar increase and 295% number increase from 2020.
While inventory may currently be low, Telluride is growing in other ways. A pair of developers have signed a contract to develop a Four Season Hotel in Mountain Village, as well as several new hotel additions to the town of Telluride. While these are still in the planning process, these will certainly impact Telluride tourism and ownership going forward.
As people continue to retreat to Telluride, we expect to see limited availability for vacation rentals, dinner reservations and guided tours. Plan early – we want you to be able to enjoy everything you love about Telluride and without the stress.
If you need help navigating through summer in Telluride, you’ve come to the right place. Don’t hesitate to contact our team with any questions or comments about visiting Telluride in the summertime! We want you to love the Telluride experience as much as we do.