Telluride Update: February 2015

Telluride Affiliates Blog

Telluride’s long string of sunny days was interrupted yesterday with some welcome snow. The mountain has been busy and our towns as well with the Comedy Fest and holiday weekend.

After a banner year in 2014, real estate sales for January 2015 were close to even with last year, down just 4% in dollar volume over January 2014 and up 21% in number of sales. In other notable news, the new owners of the Madeline Residences and Hotel in the Mountain Village core have committed to $15 million in improvements to the property and the condominiums are now officially offered for sale. Let us know if you’d like additional details and, as always, please feel free to stop by the office or contact us online or at 970-728-0213 with any of your real estate questions or needs.

Telluride Update: January 2015

Telluride Affiliates Blog

We’re all enjoying unseasonably warm temperatures and beautifully sunny skies in Telluride with some new snow forecast for the end of the week. For those of you who live in the Phoenix or Los Angeles, Allegiant Air is offering 2-for-1 tickets until Friday Jan. 30 for travel through Mar. 28. Click here for more details.

With the final real estate sales numbers tallied from 2014 last year was the strongest since the market’s peak in 2007. San Miguel County finished the year up 48% in dollar volume of sales over 2013 and up 28% in number of sales. All told 2014 saw 523 sales worth a total of $507.1 million. For a more complete analysis of 2014 visit www.TellurideAffiliates.com/our-market/telluride-market-reports/.

What does this mean for 2015? Based on activity YTD we expect that the market will continue to remain strong with inventory in Telluride tightening even more. Mountain Village may continue to offer better value as there’s more supply in most segments of this market and the days of the bank sales and REO offerings are, for the most part, behind us. New construction offerings will again start to appear in Telluride with Mountain Village following as the older home and condo inventory sells out.

As always, please feel free to stop by the office or contact us online or at 970-728-0213 with any of your real estate questions or needs.

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