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.
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 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 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.
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.