Record-Low Inventory Sets the Pace for Telluride Real Estate to Kick Off 2022
The numbers don’t lie – the Telluride market is still hot, but may be shifting toward a more typical supply/demand balance at the market’s new level. Telluride homes and condos garnered record average prices per square foot in Q1 at $2,217 and $1,897 respectively, and Mountain Village also set records at $1,136 and $1,102, but we are starting to see longer days on market and seeing price resistance when properties are listed 20% higher than previous sales.
If you are interested in selling your home, pricing is key. Our team is hyper-focused on maximizing revenue for our clients while avoiding overpricing properties and undermining value over time.
If you are a buyer, we aren’t anywhere near the top of the market in Telluride. If you are considering making a purchase, we can help you invest in your lifestyle here with our off-market listings and market insight without overpaying.
Want to learn more about the current real estate market in Telluride? Click here to read the full report or take a peek at some of our insight below.
Due to demand in San Miguel County, dollar volume was up 17% but the number of transactions was down 23%. Properties and homes are becoming scarce, and buyers have been willing to pay top dollar for anything they can get their hands on.
Telluride, as shown below, has seen a drastic dollar volume increase, while the number of sales have decreased. Additionally, listings are selling at or close to asking price – a good sign for sellers.
While Telluride has continued to see demand, Mountain Village is seeing an opposite trend. With prices on the rise, we’ve seen some price resistance and longer days on market. The number of sales is down 41% and dollar volume is down 10%, but inventory is limited. There are only 3 small condos on the market and the rest of the available homes/condos are 4+ bedrooms.
With only five homes available in Telluride and nine available in Mountain Village, it’s imperative as a buyer that you enlist the help of a seasoned broker to scour the market for you. As a seller, it’s important to capture top dollar while the Telluride market is still in high demand.
Want more personalized details about your specific home or real estate search? We can help. Whether you’re looking for more insight about the current real estate market or simply want some local tips about the best hidden hikes or biking trails, don’t hesitate to contact us. If you’re ready to start your search now, click here. We’d love to show you around.