Dear Friends,
The Telluride real estate market is showing an interesting shift. Through August, sales are up 12% and dollar volume is up 13% from last year, but properties are taking considerably longer to sell, with median days on market increasing from 112 to 202. Countywide, dollar volume is up 19% despite 5% fewer transactions, reflecting the outsized impact of higher-end sales.
Telluride and Mountain Village continue to drive the market, together accounting for more than 70% of countywide sales volume this year. What we’re seeing on the ground matches the numbers: the market remains healthy, but buyers are more patient and selective. The best properties continue to command attention, while pricing, condition and presentation matter more than they have in recent years.
As we head into fall, we hope you have a chance to enjoy some of our favorite events of the year, along with cooler days and the changing colors of the aspens. As always, if you’d like to talk about the market or what we’re seeing in a particular segment, we’re here to help.
Best,
Josh & Katja Rapaport