TREC News

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

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.

Comments

  1. No comments. Be the first to comment.

TREC Commits to Mountainfilm's The New Normal

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?

Comments

  1. No comments. Be the first to comment.

Real Estate on Skis Tour

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. 

Comments

  1. No comments. Be the first to comment.

Telluride's Real Estate Market Finishes On Par, TREC Finishes Ahead of Market

Celebrating 35 years as a company in 2016, TREC is pleased to present our year-end market report.

The Telluride real estate market’s total sales for 2016 were nearly on par in both dollars and number of sales,
compared to 2015. $452.8M in contracts closed last year, only 2% below 2015 (which had the extraordinary
Mountain Village home sale of $14M by TREC). The number of sales were up one point compared to 2015.
What started as an uncertain year due to an unexpected plunge of the DOW and election concerns, first
quarter sales finished down 39%. The Telluride market rebounded exceptionally well and 2016 had a satisfying,
stable finish. TREC is pleased that its sales performed exceedingly better than the market with the company’s
dollar volume up 14% over 2015.

Notably, Mountain Village saw an improvement of high-end luxury home sales. In 2015, there was one home
sale over $5M, the abovementioned extraordinary sale of $14M. In 2016, there were six home sales over $5M
in Mountain Village. This is an indication that mountain resort markets are an increasingly attractive purchase.
The Town of Telluride’s persistent low supply continues to be a contributing factor to a mild slowdown in that
segment. While the number of sales are down nearly 20%, dollar volume is only down 11% signaling the Town
of Telluride remains desirable. With construction taking place on nearly every block, this should soon correct
itself.

Given rising energy prices in key Telluride buyer market segments and a strengthened DOW, the outlook for
2017 looks positive. According to the MLS, $96.8M in sales are currently under contract (with a third of those
contracted through TREC!). The combination of economic conditions and properties under contract indicate
the market off to a good start for 2017.

Forbes recently gave Telluride a rave review, saying there is “a compelling argument that it is the single best
ski vacation choice in the country.” Telluride has also proven to be a strong value play when compared to
other mountain resort markets, with entry level prices well below that of other luxury resorts. An unbeatable
combination.

How the Major Market Segments have performed:

TOWN OF TELLURIDE

Gross Dollar Sales down 10.9 % ($157.2 vs. $176.6M)

Sales Numbers down 18.9 % (137 vs. 169)

TOWN OF MOUNTAIN VILLAGE

Gross Dollar Sales up 7.0 % ($189.3M vs. $177.0M)

Sales Numbers up 13.1 % (207 vs. 183)

REMAINDER OF COUNTY

Gross Dollar Sales down 1.0 % ($94.7M vs. $95.6M)

Sales Numbers up 16.3 % (186 vs. 160)

Click here to read our comprehensive Market Update

Comments

  1. No comments. Be the first to comment.

Broker Awards

TREC is pleased to recognize the outstanding effort, dedication, and success of our agents. Congratulations to our 2016 award recipients!

Comments

  1. No comments. Be the first to comment.