Telluride – End of Year Market Report 2012

Despite a slow start to sales in 2012, the Telluride real estate market showed substantial momentum across both Q3 & Q4 with some dramatic sales activity across multiple market segments through the end of the year.

The market saw a new record number of transactions close over the $10m mark for the year with two sales over $12m in Mountain Village, one over $12m in Gray Head, three other ranch sales over $10m in the outlying areas, and several others north of $6m.

There was a flurry of activity within the historic Town of Telluride, with transactional volume up over 30% for the year and prices per square foot moving above the $1,000 per foot mark for homes over $2m.

Other statistics of note according to the Telluride MLS:

•             Gross dollar volume was up over 40% market-wide, with transactional volume up over 10%

•             100 sales over $1m, with 65 sales over $2m

•             Average prices were up over 35%, with median sales prices up over 14%

•             The average sales price for single-family homes in Mountain Village was an estimated $3.9m

•             Both inventory and average days on market were down 8% and 17% respectively, showing definitive signs of a strengthening in the overall market and a stabilization of pricing