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Q1 2024

San Miguel County wrapped up the first quarter of 2024 with a robust $245.67 million in total dollar volume, spanning 104 transactions. This marks an impressive 46% surge compared to the same period last year, and a notable 16% rise over the average of the past five years. While it’s the third-highest dollar volume for Q1, it trails behind the extraordinary activity witnessed during the pandemic buying frenzy and amidst low interest rates.

The average sales price in San Miguel County soared to $2.36 million, reflecting a substantial 26% uptick from Q1 2023. Presently, sellers hold the upper hand in our market, thanks to the scarcity of high-quality inventory. Property values continue to ascend in this distinctive mountain market.

February 2024

February 2024 sales data indicates significant growth in Telluride’s high-end real estate market. Dollar volume surged by 90% compared to February 2023 and exceeded the previous 5-year average by 46%. Year-to-date figures also show an impressive 87% increase over 2023 and match the 5-year average rise of 46%. Except for the peak year of 2022, driven by pandemic-induced buying frenzy, current dollar volumes stand as the highest in recent memory.

Presently, 66 properties are pending, boasting a collective listing volume exceeding $185 million. Notably, Mountain Village has been outperforming Telluride, boasting higher overall dollar volume, indicative of a robust buyer’s market offering ample inventory and lower price per square foot.

This data underscores Telluride’s enduring appeal as both a residential and vacation destination. For further insights or market analysis, please don’t hesitate to reach out.

January 2024

January 2024 brings promising news for the discerning Telluride real estate market. With a robust start to the year, we witnessed a total dollar volume of $83.01 million across 29 transactions. This marks an impressive 85% surge compared to January 2023 and a notable 45% uptick over the past five years average.

The persistent scarcity of inventory continues to propel prices to new heights. Across Telluride, Mountain Village, and San Miguel County, property values have surged compared to previous years. The January market was notably influenced by four significant transactions, each surpassing the $9.5 million mark.

As Telluride’s allure continues to grow, accessing this coveted market will become increasingly challenging. With rising demand and limited inventory, securing a foothold in our exclusive locale demands strategic planning and swift action. Yet, for those with discerning tastes and a penchant for luxury living, the allure of Telluride’s breathtaking landscapes and upscale amenities will only intensify. As the market evolves, it simultaneously presents new challenges and opportunities, cementing its status as a premier destination for discerning buyers seeking unparalleled sophistication and serenity amidst nature’s grandeur. Feel free to reach out any time for a more in depth look at Telluride’s real estate market, lauren@tellurideproperties.com.