Ragland’s Ranch Sells for $15.9M
Listing Broker Peter Loomis @ Ragland's
The Telluride region real estate market soared in 2020, selling $1.16 billion dollars, and the first quarter of 2021 is stacking up by closing out with the largest dollar volume on record at $287M. With strong sales in Telluride, Mountain Village and surrounding San Miguel County, people are seeking open spaces and remote living more than ever.
Two of the most expensive residential properties ever sold in the Telluride area occurred in the last 10 days. Tom Cruise’s Aldasoro property closed on May 14th for $39.5M. 10 days later Ragland’s Ranch closed on May 24th for $15.9M.
According to TD Smith, managing broker for Telluride Real Estate Corp, “historically speaking, other than Tom Cruise’s property that just sold for 39 million, Ragland’s Ranch is the biggest residential sale in the Telluride area.”
The Ragland’s property is located on the east side of Trout Lake with a private valley and a river running through it. The views are rugged and dramatic in a National Park Like setting. The 153 acres is surrounded by Forest Service land and 13,000-foot peaks. There’s a one-mile driveway, an 8,000 square foot log home, barn and greenhouse. Larry & Colleen Ragland bought the land in 1982, finished building the home in 1984 and have enjoyed it ever since. Larry Ragland is a five-time winner of the Baja 1000. This is the first time it has been sold since the improvements were made 37 years ago.
Peter Loomis, the listing broker with Christie’s International Real Estate, commented, “I’m grateful for the opportunity to represent such a magnificent property. It’s the quintessential mountain property and a rare find, even for the Telluride Region.”
Many movies have been filmed on the property with scenes showing the epic mountain backdrop. Recent films include the Hateful Eight (directed by Quentin Tarantino), The Ballad of Buster Scruggs (directed by the Coen Brothers) and others.
If the local real estate market continues with the summer season ahead, the area may surpass last year’s record breaking numbers.