MARKET UPDATE
Portrait of the Telluride Regional Real Estate Market 2010
162 Transactions Year to Date (74 Sales/88 Pending)
Fractional Ownership 18 sold/5 pending
Telluride Residential 9 sold/ 1 pending
Telluride Condos 16 sold/22 pending (includes 17 Element 52 condos)
Mountain Village Residential 9 sold/8 pending
Mountain Village Condos 7 sold/ 55 pending (includes 47 Peaks condo-hotel rooms)
Mountain Village Vacant Land 2 sold/ 5 pending (includes 3 Ridge Club parcels)
Ski Ranches Residential 2 sold
Trout Lake Residential 1 sold
Ophir Residential 1 pending
Illium Valley 1 pending
Mesas Vacant Land 2 sold
Mesas Residential 1 pending
Ridgway Residential 2 sold
Ridgway Vacant Land 3 sold
Norwood Vacant Land 1 sold
Norwood Residential 1 sold/ 1 pending
Placerville Residential 1 sold
Portrait of the Telluride Regional Real Estate Market 2009/2010
In recent years I have researched appreciation trends in our regional real estate market.
The following is an overview of Sold activity for the region.
Information has been derived from the Multiple Listing Service and encompasses the thirteen month time frame from
January 2009 through February 28, 2010.
As most of you are aware, within this regional market are limited supplies with high demand.
Factors that continue to fuel demand even during the economic slowdown are:
high quality of life, limited private land, strict planning and zoning
and of course being surrounded by magnificent beauty in the form of extensive public lands.
Please note the sometimes significant differences in Asking Price vs. Selling Price.
Prices continue to be adjusted away from the previous speculative pricing models.
While buyers are finding good values compared to previous years, sellers still generally are making reasonable profits.
Thank you for the continued opportunity to facilitate your real estate goals within this region.
| Town of Telluride | Residential | Vacant Land | Condos | |
| Mountain Village | Residential | Vacant Land | Condos | Fractional |
| West Valley | Residential | |||
| Down Valley | Residential | |||
| Ophir, Trout Lake, San Bernardo | Residential | |||
| Telluride Mesas | Residential | Vacant Land | ||
| North Mesas | Residential | Vacant Land | ||
| South Mesas | Residential | Vacant Land | ||
| Ridgway | Residential | Vacant Land | ||
| Rico | Residential | Vacant Land | ||
Town of Telluride Residential
Current Inventory: 74 homes
Low $649,999
High $15,000,000 (formerly Oak St. Inn)
Sold 13/5 Under Contract ( range: $6 million- $875,000 {bank owned}) YTD
Sold Low: $800,000
Sold High: $3,400,000
List Low: $875,000
List High: $4,200,000
Town of Telluride Condos (Includes west valley, condo-hotels, Entrada deed restricted TOT )
Current inventory: 143
Low: $159,000 (Lawson Hill deed restricted condo)
High: $15,000,000 North Oak St. (formerly Oak St. Inn)
44 Sold/24 under contract YTD
Sold Low: $141,206
Sold High: $4,100,000
List Low: $141,206
List High: $4,995,000
Town of Telluride Vacant Land
Current inventory 39 (including west & east valleys)
Low $149,000 (Lawson)
High $3,150,000
Sold 2
Low $149,000 (Lawson Hill)
Sold Low: $405,000 (Butcher Creek)
Sold High: $1,200,000 (Depot)
List Low $405,000
List High $1,295,000
Mountain Village Residential
Current Inventory 60
Low: $962,140 (single family deed restricted Boulders)
High: $ 22,000,000
Sold 21/ 4 under contract YTD
Sold Low: $345,000 (Coyote Court- deed restricted)
Sold High: $10,100,000
List Low $375,700
List High: $11,500,000
Mountain Village Vacant Land
Current Inventory 91
Low: $152,000 (deed restricted Boulders)
High: $20,000,000 (4+ acre development parcel)
Sold 9/1 Under Contract YTD
Sold Low: $130,000 (deed restricted Boulders)
Sold High $1,900,000
List Low: $144,000
List High: $2,475,000
Mountain Village Condos
Current Inventory 165
Low: $134,406 (Peaks condo-hotel)
High: $6,490,000
Sold 32/34 Under Contract (Peaks condo-hotels majority ofprop. uc)
Sold Low: $198,700
Sold High: $3,288,775
List Low: $198,700
List High: $4,165,750
Fractional Ownership (MTV & TOT)
Current Inventory 100
Low: $30,000
High: $450,000
Sold 54/4 Under Contract YTD
Sold Low: $20,000
Sold High: $562,500
List Low: $25,000
List High: $575,000
West Valley Residential (including Hillside, Lawson Hill)
Current Inventory 7 (5 deed restricted)
Low $319,000
High $1,595,000
Sold 0
Down Valley (Placerville, Sawpit, Fall Creek) Residential
Current Inventory 31
Low $299,900 (Two Rivers Deed Restricted)
High $1,950,000
Sold 2
Sold Low $549,000 (bank owned)
Sold High $700,000 (Realtor’s residence- not listed on MLS @ time of sale)
List Low $ n/a
List High $ n/a
Ophir, Trout Lake, San Bernardo Residential
Current Inventory 13 (6 Ophir/7 Trout Lake/0 San Bernardo)
Low $269,000 (rustic cabin Trout Lake)
High $1,795,000 (home on 17 acres Ophir)
Sold 5/1 under contract
Sold Low $321,000 (Hidden Lakes cabin)
Sold High $470,000 (newer home in Ophir)
List Low $321,000
List High $499,998
Telluride Mesas Residential (Deep Creek, Turkey Creek, West Meadows, Ski Ranches, Aldasoro)
Current Inventory 48
Low $625,000 (Ski Ranches)
High $20,500,000 (Grey Head)
Sold 7
Sold Low $520,000 (Ski Ranches fixer upper)
Sold High $10,100,000 (Greyhead)
List Low $695,000
List High $11,100,000
Telluride Mesas Vacant Land(Deep Creek, Turkey Creek, West Meadows, Ski Ranches, Aldasoro)
Current Inventory 45
Low $200,000 (deed restricted Aldasoro)
High $4,600,000 (Sunnyside Ranch)
Sold 4/3 under contract YTD
Sold Low $775,000
Sold High $5,250,000 (70 acre West Meadows parcel)
List Low $775,000
List High $6,600,000
North Mesas Residential (Hastings, Iron Springs/Horsefly)
Current Inventory 16
Low $419,000
High $3,245,000
Sold 2/1 Under contract
Sold Low $529,000
Sold High $1,725,000
List Low $545,000
List High $1,892,875
North Mesas Vacant Land (Hastings, Iron Springs/Horsefly)
Current Inventory 49
Low $139,000
High $7,850,000 (1002 acres on Iron Springs)
Sold 7
Sold Low $197,000
Sold High $700,000
List Low $199,000
List High $815,000
South Mesas Residential (Wilson, Sunshine, Specie)
Current Inventory 6
Low $725,000
High $4,950,000
Sold 2
Sold Low $570,500
Sold High $1,610,000
List Low $624,900
List High $1,795,000
South Mesas Vacant Land (Wilson, Sunshine, Specie)
Current Inventory 27
Low $275,000
High $18,972,000 (527 acres)
Sold 4
Sold Low $205,000
Sold High $525,000
List Low $219,000
List High $850,000
Norwood/West End Residential (Norwood, Redvale, Naturita, Nucla, Bedrock)
Current Inventory 91
Low $39,000
High $2,800,000
Sold 30
Sold Low $47,000
Sold High $800,000
List Low $55,000
List High $950,000
Norwood/West End Vacant Land (Norwood, Redvale,Naturita,Nucla,Bedrock)
Current Inventory 96
Low $16,500
High $5,500,000
Sold 6
Sold Low $10,500
Sold High $200,000
List Low $14,500
List High $200,000
Ridgway Residential (Town of Ridgway, Elk Meadows, Log Hill Mesa, Ouray valley)
Current Inventory 98
Low $175,000
High $10,300,000
Sold 24
Sold Low $100,000 (single-wide on town lot)
Sold High $1,300,000
List Low $119,000
List High $1,500,000
Ridgway Vacant Land (Town of Ridgway, Elk Meadows, Log Hill Mesa, Ouray valley)
Current Inventory 216
Low $20,000 (mining claim)
High $19,500,000 (1468 acres)
Sold 17/ 2 Under Contract
Sold Low $70,000
Sold High $3,500,000 (268 acres along Uncompahgre River)
List Low $81,900
List High $4,275,000
Rico Residential (including Dolores River)
Current Inventory 10
Low $179,000
High $419,000
Sold 3
Sold Low $165,000
Sold High $7,395,000 (132 acres, numerous outbuildings, river-frontage)
List Low $171,500
List High $9,500,000
Rico Vacant Land (including Dolores River)
Current Inventory 19
Low $59,000
High $1,750,000
Under Contract 1
List High $2,500,000 (248 acres surrounded by USFS)
Portrait of the Telluride Regional Real Estate Market 2008-5/2009
Town of Telluride & West Valley (Lawson, Hillside)
Residential: 19 sold
Low List $535,000Low Sold $499,500
High List $4,750,000 High Sold $4,775,000 (includes RETT)
Average List (orig. $) $2,533,000 Avg. List $2,339,737 Sold Average: $2,135,447
Vacant Land: 6 sold
Low List $875, 595 (original price) List $500,000 Sold $500,000
High List $2,700,000 (original price) List $2,375,000 Sold $2,375,000
Average List $1,489,167 Average Sold $1,300,000
Condos: 36 sold
Low List $146,101 Low Sold $146,101
High List $4,500,000 High Sold $3,100,000
Average List (orig. $) $866,766 Avg. List $806,989 Average Sold $727,431
Mountain Village
Residential: 15 sold (7 changed price)
Low List $745,000 (deed restricted) Low Sold $699,000
High List $14,100,000 High Sold $10,775,000
Average Original $4,162,800 Avg. List $3,973,867 Average Sold $3,356,100
Condos: 50 (12 changed price)
Low List (original) $349,000 Low List $299,000 Low Sold $298,700
High List (original) $5,995,000 List $5,995,000 High Sold $5,995,000
Average List (orig.) $1,834,339 List $1,814,900 Avg. Sold $1,665,782
Vacant Land: 9 sold
Low List (original price) $549,000 List $499,000 Low Sold $436,000
High List (original price) $4,508,000 List $4,508,000 High Sold $4,509,000
Average List $1,623,000 List $1,535,333 Average Sold $1,394,722
South; Ski Ranches, Ophir, San Bernardo, Illium, Turkey Creek Mesa, Rico, Trout Lake
Residential 18 sold
Low List $129,000 (shed on lot in Rico) Low Sold $125,000
High List (orig. price) $2,750,000 List $2,650,000 High Sold $2,485,000
Average (orig. price) $1,083,143 List $993,350 Avg. Sold $906,562
Vacant Land 5 sold
Low List (orig. price) $599,000 Low List $595,000 Low Sold $515,000
High List (orig. price) $8,900,000 High List $6,600,000 High Sold $5,250,000
Mesas; South, North, Telluride, Outside Telluride
Residential 10 sold
Low List (orig. price) $625,000 Low List $625,000 Low Sold $555,000
High List $12,900,000 High Sold $11,100,000 (Sunnyside Ranch 12,480 sf home)
Average List(orig. price) $3,843,400 Avg. List $3,777,460 Avg. Sold $3,256,109
Vacant Land: 18 sold
Low List $245,000 Low Sold $225,000
High List $3,150,000 High Sold $2,740,000
Average (orig. price) $1,017,736 Avg. List $957,667 Avg. Sold $844,667
Down Valley; Placerville, Sawpit, Fall Creek
Residential: 3 sold
Low list $379,000 Low Sold $340,000
High List $765,000 High Sold $700,000
Average List $511,333 Avg. sold $473,333
Vacant Land: 2 sold
Low List $179,500 Low Sold $179,500
High List $310,000 High Sold $284,000
West End; Norwood, Naturita, Nucla, Redvale
Residential: 35 sold
Low List $35,000 Low Sold $30,000
High List (orig. price) $675,000 High List $625,000 High Sold $600,000
Average List (orig. price) $224,449 Avg. List $213,413 Avg. Sold $199,661
Vacant Land: 15 sold
Low List $15,000 (residential lot in Nucla) Low Sold $13,000
High List $750,000 High Sold $700,000
Avg. List (org. $) $109,567 Avg. List $107,033 Avg. Sold $96,333
Ridgway/Ouray Area
Residential: 32 Sold
Low List $225,000 Low Sold $198,000
High List $1,500,000 High Sold $1,300,000
Avg. List (orig. $) $531,290 Avg. List $507,084 Avg. Sold $469,881
Vacant Land: 25 Sold
Low List (orig. $) $92,000 Low List $89,000 Low Sold $70,000
High List $1,750,000 High Sold $1,600,000
Avg. List (orig. $) $305,000 Avg. List $288,332 Avg. Sold $262,845
