Telluride Mid-Year 2019
Recently ranked as the No. 1 best small town to visit in the country by U.S. News, Telluride attracts visitors from all over the world with captivating scenery, year-round activities, and a downtown boasting unique and memorable places. Surrounded and nestled in Colorado’s renowned mountains is the town of Telluride. For most, Telluride is known for the lifestyle, the views, and the activities – but for locals, this is a place unlike anywhere else on earth.
LIV Sotheby’s International Realty produces a Micro Market Report analyzing Telluride’s real estate performance for January through June 2019 compared to that of 2018. The Mid-Year Report proves outstanding increases in activity for many of the neighborhoods of San Miguel County. As a whole, San Miguel County witnessed a 20.3% decrease in average days on market, bringing the average days on market for 2019 to 247 days compared to 310 days in 2018 – given the remote landscape of this beautiful resort town, it’s not uncommon for homes to sit on the market for a longer period of time. The decrease in average days on market does show the increase in competition for San Miguel County real estate.
There were extremely impressive increases in average sold price for the various neighborhoods of San Miguel County including a record-breaking 347.9% increase for Town of Telluride land, bringing the 2019 average sold price to $3,838,750 from $857,143 in 2018. This extreme increase in average sold price was due to a $12,750,000 land sale, the highest ever historically in the Town of Telluride.
As no surprise, Telluride continues to prove to be an extremely active market for real estate. While this mountain town is tucked away, many value the resort life that the Colorado mountains offer and especially the lifestyle found nowhere else than in Telluride.
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.