Telluride | Year End 2019
Telluride is a former mining town that has blossomed into a destination for those with a passion for the mountains. A year-round calendar of activities keeps visitors and residents busy no matter the season with hiking, mountain biking, and a schedule of eclectic festivals in the summer and world-class skiing in the winter. It’s no wonder people are drawn to this unique and historic community.
LIV Sotheby’s International Realty produces a Micro Market Report analyzing Telluride’s real estate performance in 2019 compared to that of 2018. The year-end report proves outstanding increases in activity for San Miguel County and many of the neighborhoods within.
In its entirety, San Miguel County saw a 10.6% increase in sold listings in 2019 compared to 2018. Perhaps even more interesting, condominiums, townhomes, and duplexes saw significantly more sales last year than single family homes in San Miguel County. Overall, the total sales volume in this mountain region grew by 13.4%, totaling $495,340,551 for 2019.
In the Town of Telluride, total properties sold increased by 22.2% but on a more granular level, condominiums, townhomes, and duplexes saw a 34.1% rise in sales which aligns with the trends seen in San Miguel County as a whole. The average sold price for these condominiums, townhomes, and duplexes in the Town of Telluride also grew during 2019, increasing by 18.9% from 2018 to $1,149,119 in 2019.
The neighboring town of Mountain Village experienced a very similar boost in sales during 2019. There were 8.5% more sales last year than in 2018 for all home types. However, in contrast to the Town of Telluride, the increase in sales of single family homes out-performed condominiums, townhomes, and duplexes in Mountain Village. Single family home sales increased by 11.5% as compared to the 7.5% increase seen in condominiums, townhomes, and duplexes.
In other surrounding neighborhoods which include Aldasoro Ranch, Elk Run, GrayHead, Idarado Legacy, Raspberry Patch, Ski Ranches, The Preserve, and West Meadows, the average sold price for all residential properties climbed 3.5%, making the average price for homes in these areas $2,571,102 and the average price per square foot $632.
This beautiful resort community, cloistered away by the San Juan Mountains presents a unique opportunity to live among some of the most scenic landscapes in all of Colorado. The metrics seen above prove the demand is high for homes in the Telluride region.
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.