Market Update

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

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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

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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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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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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.