Telluride | Year End 2020
Welcome to Telluride, a town unlike any other, located in Colorado’s southwest corner. The jaw-dropping beauty of Telluride is truly unbeatable, as it’s situated among the San Juan Mountains within San Miguel County.
While 2020 presented a new way of life for us, one thing was clear – people sought after their dream home. Telluride and the surrounding areas feature a dreamed-about lifestyle for many, with world-class skiing, the lively vibe of Main Street, and a tight-knit community. Plus, being located a bit off the beaten path makes this a picturesque escape for those who want to feel like they are worlds away. Because of these incomparable amenities and the shift of consumers focusing on their lifestyle – real estate in Telluride boomed in 2020.
LIV Sotheby’s International Realty produces a Micro Market Report analyzing the Town of Telluride, Mountain Village, and the surrounding neighborhoods’ real estate performance throughout the year of 2020, compared to 2019. All metrics revealed that 2020 was a record year. Total sales volume increased a dramatic 91.3%, with the number of sold listings increasing 42.3% revealing an increase in average price, which increased by 34.4%. Average days on market decreased 7%, showing the competitive nature of buyers looking for their Telluride slice of paradise.
Not only did demand increase across San Miguel County, but specifically the demand for land increased dramatically. Impressively, all areas included in the report increased by 100% or greater in the number of land properties sold in 2020 compared to 2019. Ridgway, located in Ouray County, stood out with one of the highest increases of 233.3% from nine land listings sold in 2019 to 30 land listings sold in 2020.
The highest price also grew in many areas, once again proving the rise in demand for the year 2020. For all residential properties in the Town of Telluride, the highest price increased by a notable 45%, from $7,725,000 in 2019 to $11,200,000 in 2020. In addition to increases in the highest price, there were many increases in the average price. Mountain Village reported an impressive 16.9% rise in average price, landing at $2,198,857 in 2020 compared to $1,881,428 in 2019.
It’s clear that Telluride’s fresh mountain air, endless recreation opportunities, and an ideal community make it a place that many people want to call home. With record-breaking performances in 2020, Telluride proved to be the mountain retreat that buyers were searching for. As lifestyle continues to be a focus, the housing market in this breathtaking San Juan Mountains community should continue 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.