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.
Page through below to read our comprehensive Market Update.