Telluride’s Real Estate Market is Up in 2017, TREC Finishes Far Ahead of Market
The Telluride real estate market is off to a tremendous start compared to 2016. With $140.4M in contracts closed in the first quarter, sales are up 50%. The number of sales were up 18% compared to the first quarter of 2016. Election nerves seem to be settled as buyers’ confidence is high, thanks to record DOW performance and stable energy prices. TREC is pleased that its sales performed exceedingly better than the market with the company’s dollar volume up 128% over the first quarter of 2016.
Notably, Mountain Village is continuing to see high-end luxury home sales. In the first quarter alone, there were four sales over $4M followed by two sales in the $3.5M range. Currently, $31.6M in Mountain Village properties are under contract, signaling that Mountain Village condos and homes continue to be an attractive purchase.
Despite the limited inventory, properties in the Town of Telluride are still trading briskly with the number of sales up 55% over the first quarter of 2016. With $43.8M in closed transactions, the Town of Telluride saw a 45% increase in dollar volume.
Approaching the summer selling season, the Telluride real estate market looks strong, with $130M in sales currently under contract according to the MLS.
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