TREC News

Telluride Association of Realtors (TAR) Awards Four TREC Brokers

At their annual awards dinner earlier this month, Telluride Association of REALTORS (TAR) inaugurated Telluride Real Estate Corp's Pam Guillory as their 2019-2020 President. Guillory has been on the TAR board since 2009, serving under 10 past presidents. 

Guillory honored others at her installation celebration, recognizing TREC's Steve Catsman & TD Smith, as well as Dirk de Pagter, Sally Puff Courtney and Dan Shaw for their “contribution of 40-plus years of paving the way for Telluride to become one of the most unique destination resorts in North America,” Guillory said. Coining it the Legacy Legend Award, Guillory added, "I came to appreciate their input and endless experience and recognize how they helped carve this town into what it is today,” 

Another annual honor was given to TREC's Kiplynn Smith, for the First Time Homebuyers Assistance Fund representative. 

2018 Realtor of the Year Award winner, TREC's Chris Sommers stated, "The Telluride Association of Realtors has been a cornerstone of this community and continues its ongoing commitment to affordable housing, property rights, volunteerism and community involvement. We strive to always improve our professionalism, education, public relations and community outreach for the Telluride region." 

Guillory was the recipient of the 2018 Community Realtor of the Year Award. An avid volunteer, Guillory is involved in several organizations including the Telluride AIDS Benefit, TAR Senior Luncheons, Angel Baskets, and TAR's Board of Directors as Education Chair. 

TREC is proud of its brokers who serve as leaders in our real estate community.

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Q2 2019 Telluride Real Estate Market Stats in, a Promising Q3 on the Horizon

Thus far in 2019 there has been an even split of condominium sales in Telluride and Mountain Village
with 30 sales in each. Similarly, there have been six Telluride Single Family Home sales versus five
Mountain Village Single Family Home sales. The average sales price of single-family homes and
condos in Telluride are lower than that of Mountain Village, however, price per square foot of single-family
homes and condos is higher in Telluride than Mountain Village.

Year to date, the average price of a single-family home in Telluride is $2,129,833 compared to
$2,732,000 in Mountain Village. Average price per square foot in Town is $966.99, compared to
$576.25 in Mountain Village. Average price for condos in the Town of Telluride is $1,084,001 at
$880.64 per square foot and $1,346,950 in the Town of Mountain Village at $642.83 per square foot.

Overall the dollar amount of sales has gone down 14% from last year at this time, from 225 sales at
$218.8M in 2018 to 205 sales at $187.2M in 2019. The number of sales has gone down 9%.  It is noted
that there were less showings the Winter of 2018 due to record snowfall and visitors and locals alike
enjoying the mountain.

In the past 5 years we have seen a surge in sales in May, however this year there was a 9% decline in
number of sales and a 16% decline in dollar amount compared to May 2018. However, TREC brought
in the record high for the month, co-listing and selling Lorian’s 111 San Joaquin Road 5 for $2,886,500.

The largest sale in April was Eagle’s View Reserve Condo Unit 4, a Mountain Village Condo that sold
for $1.65M. June’s largest sale was 210 Wilson Peak Drive in Mountain Village, selling for $4.68M.
It is anticipated that the market will pick back up during the summer months as record breaking
snowfall and a promising start to Q3 provide an optimistic outlook for area real estate.

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TREC Brokers Recognized by Telluride Association of Realtors

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The Telluride Association of REALTORS (TAR) named TREC's Chris Sommers its 2018 Realtor of the Year at their annual awards dinner earlier this month. Nominees for this award are chosen and voted on by their peers. In addition to this prestigious award, Sommers, the out-going President of TAR and new Past President for TAR, also won the Presidential Award for service to the organization.

“I am honored to be nominated by the past recipients of this award and humbled to have received the Realtor of the Year Award for 2018.  The Telluride Association of Realtors has been a cornerstone of this community and continues its ongoing commitment to affordable housing, property rights, volunteerism and community involvement.  It has been a privilege serving as President for the Telluride Association of Realtors, the Board of Directors and membership this year as we strive to always improve our professionalism, education, public relations and community outreach for the Telluride region," said Sommers. 

Pam Guillory was the recipient of the Community Realtor of the Year Award. An avid volunteer, Pam is involved in several organizations including the Telluride AIDS Benefit, TAR Senior Luncheons, Angel Baskets, and TAR's Board of Directors as Education Chair. TREC is proud Pam has been voted as TAR's President Elect.

TD Smith was once again the recipient of the Best Open House Award. The cuisine served at TD's open houses match his lavish listings. From Thanksgiving dinners to prime rib to seafood spreads, TD sets the bar high!

Steve Patterson has been elected to serve his fourteenth term at TAR Treasurer/Secretary. TREC is proud of its brokers who serve as leaders in our real estate community.

 

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Luxury Market Update | June 2018

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As revealed in our just-released in Christie's International Real Estate's Luxury Defined 2018 report on the global luxury real estate sector, sales of million-dollar-plus properties in second-home and resort lifestyle destinations worldwide soared in 2017. Luxury sales in second-home markets grew by 19% year-on-year in 2017 with Telluride exceeding with 37% growth in 2017. Telluride has seen $191.5M in closed transactions through May in 2018. With $97.4M in sales currently under contract, we look forward to the summer sales season.

Telluride Real Estate Market Finishes 2017 with Record Ten-Year High

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The Telluride real estate market’s total sales for 2017 finished at a ten-year record high. Sales were significantly better in dollar volume and number of transactions compared to 2016. With $616.1M in contracts closed, sales are up 36% over 2016. The number of sales is up 10% with 618 closed transactions.

The Town of Telluride’s high demand and limited inventory continue to be driving factors in the price of single family homes. With construction on nearly every block the past two years, vacant land sales have remained stable, with single-family home sales seeing an increase. Finished construction projects helped drive single family home sales, which are up 11% in number and up 38% in dollar volume. Condo/townhomes sales continue to trade hands with the number of sales up 19%.

Mountain Village high-end luxury home sales continue to trend upwards. There were a record ten sales over $4M 2017. This market achievement boosted the dollar volume for Mountain Village single-family homes up 46%. With proximity to the ski resort along with rental income potential, Mountain Village condo/townhome sales remain an attractive purchase, with dollar volume up 27% compared to 2016.

The remainder of the county saw a 23% increase in dollar volume compared to 2016. The Ski Ranches and Aldasoro luxury neighborhoods saw increases in single-family home sales. Notably, the Ski Ranches had nearly quadruple the number of vacant land sales in 2017 over 2016. Its privacy, views, flexible building guidelines, and transfer tax exemption prove to be an attractive purchase for future home construction.

Entering 2018, the Telluride real estate market outlook is positive, with $83.6M in sales currently under contract according to the MLS.

Click here to read our full Market Report.

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TREC Recognizes Top Performers

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Each year, the Directors of TREC are delighted to recognize the outstanding efforts, dedication, and success of our agents. Congratulations to our 2017 award recipients- Alex Martin, Team Simon- Garrett Simon, Jessica Simon & Bebe Hinde, Team Dollard- Mark Dollard & Terrie Dollard, Team TD- TD Smith, Chris Sommers & Alex Smith, Steve Hilbert and Dan Henschel! 

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3rd Quarter Update: Telluride Real Estate Market Grows 40%

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The Telluride real estate market continues to hold strong with dollar volume and number of transactions at a 6-year record high. With $431.4M in contracts closed through September, sales are up 40% over YTD ‘16. The number of sales are up 18% with 472 closed transactions.

Mountain Village continues to see a steady number of high-end luxury homes trading hands. There were five sales over $4M in the third quarter and eleven YTD. Overall, Mountain Village single-family home and condo/townhome sales are nearly twice that relative to sales through Q3 ‘16.

Despite the limited inventory, properties in the Town of Telluride are still trading briskly, with the number of sales up 32% over the third quarter of 2016. With $138.6M in closed transactions, the Town of Telluride saw a 26% increase in dollar volume.

Entering the final quarter of the year, the Telluride real estate market outlook is positive, with $137.3M in sales currently under contract according to the MLS.

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TREC Commits to Mountainfilm's The New Normal

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TREC is proud to be a leader in the Telluride real estate community with Mountainfilm's The New Normal. The New Normal addresses climate change, the most critical issue of our time. Individuals, groups, organizations, agencies, and businesses are embracing this grassroots movement to actively battle climate change with five key initiatives. Will you join us in The New Normal?

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Real Estate on Skis Tour

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TREC Offering Ski Tours of Trail-side Properties

Interested in ski-in/ski-out properties in Telluride? Join us on our Real Estate on Skis tour to learn more about properties on Telluride Ski Resort. Offered on Wednesday mornings at 10:00AM, ski a few runs with our local experts to see what's on the market. Also, learn some fun facts about Telluride and the history of the ski resort. It's free* and no strings attached! Meet us at our Mountain Village office conveniently located in Heritage Plaza, steps from Chair 4. TREC is pleased to be the most established brokerage in the region and share its knowledge with you!
 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

*Lift ticket not included. Guests must have their own lift ticket. 

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