Telluride | Q1 2020
In Colorado’s southwestern corner sits San Miguel County, a mountain community consisting of the Town of Telluride, Mountain Village, and other surrounding neighborhoods. Telluride is a historic mining town that has put itself and its neighboring town of Mountain Village on the map as destinations for skiers, hikers, and lovers of all thing’s nature. These close-knit communities keep residents and visitors entertained all year-long with a host of outdoor adventure activities and an assortment of festivals and events. The charm and character found within these towns make living there a dream and keeps visitors coming back for more, year-after-year.
LIV Sotheby’s International Realty produces a Micro Market Report analyzing Telluride’s real estate performance Q1 2020 compared to that of Q1 2019. In its entirety, San Miguel County saw an astounding 83.6% increase in total sales volume for all residential property types through March of 2020 compared to the same time frame in 2019. An equally impressive 77.2% increase in average sold price likely contributed to the rise in total sales volume. The average sold price for all residential property types in San Miguel County during Q1 of this year was $2,481,286, compared to Q1 of 2019 when the average sold price was $1,400,429.
In the Town of Telluride, the total number of properties sold for all residential property types increased by 66.7%, the largest increase in San Miguel County. Looking at single family homes, Mountain Village saw the largest increase in homes sold during Q1 of this year, rising 166.7% from 2019 when three homes sold compared to 2020 when eight homes sold. More condominiums, townhomes, and duplexes sold in the Town of Telluride than any other community in San Miguel County during Q1 of this year. Through March of this year, 24 residences in this category were sold, a 71.4% increase from the same time frame of 2019 when 14 condominiums, townhomes, and duplexes sold.
For consumers who want to escape the ordinary and experience the extraordinary, Telluride and all of San Miguel County is the place to be. With more homebuyers investing in this mountain lifestyle the community has to offer, this region’s real estate market continues to thrive.
This Colorado Micro Market Report includes real estate data statistics for the following neighborhoods (single family, unless otherwise indicated): Telluride, Mountain Village, Placerville, Sawpit, Norwood, and Ridgway.