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Telluride Market Report
A 25-Year Market Analysis of Real Estate in the Telluride Region 1985 through 2009
INCLUDING TELLURIDE, MOUNTAIN VILLAGE, AND SAN MIGUEL COUNTY
The following pages contain excerpts from Telluride Consulting’s 25-Year Market Analysis. The complete 69-page report covers each regional market segment, in depth, from 1985 through 2009. The final section of the report discusses 25-year trends, as well as data collected during the first six months of 2010. These recent data clearly show a reversal from previous years and a significant rebound in the market. For more information on the report contents, and ordering information, please visit tellurideconsulting.com.
- San Miguel County includes three key segments of the market place: Town of Telluride, Town of Mountain Village and the remainder of the County
- After a lackluster 2009, incidents of sales and dollar volume of sales throughout the county have increased every month through September, with the exception of August.
- In fact, the real estate market in Telluride is improving at faster rates than either Vail or Aspen.
- The total dollar volume for sales in San Miguel County has experienced a compound annual growth rate of 7% over the past 25 years.
- With approximately 2,500 hundred residents, Historic Telluride is the most densely populated area of the county, serves as the county seat, and has always been a focal point of regional sales.
- With moderate fluctuation, sales in the Town of Telluride sales have increased consistently over time from $28.2M in 1985 to a high of $186.8M in 2007
- Overall dollar volume of sales has grown at a compound annual rate of 3% since 1985.
- Gross dollar sales in the first 9 months of 2010 have increased 308% over 2009.
- Incorporated in 1995, with about 1300 residents and connected to Historic Telluride via Gondola, the Mountain Village is the primary bed base for a ski resort driven economy.
- The Mountain Village has been the most active segment of the overall market place since 1996, with the exception of 2001 and 2002.
- The compound annual growth rate in dollar volume for this segment of the market since 1985 is 11% - - far greater than the other segments of the county.
- Gross dollar sales in the first 9 months of 2010 have risen 66% over 2009, and statistics over the past 6 years show a decline in number of sales with increases in sales of higher priced properties.
- The average home price since 1988 for a Mountain Village home is 96% higher than the average price of a home in Historic Telluride.
- Mountain Village Homes average over twice the square footage (112%) of those residences in Historic Telluride.
- Since 1988, on average 27 homes have sold annually in Historic Telluride with 23 sales on average in the Mountain Village.
- The average home price over the past 5 years in the Mountain Village was nearly $3.5, while Historic Telluride posted an average of $2.20M
- The first 9 months of 2010 demonstrate a recovery in process in nearly all market categories.
- Gross dollar sales are nearly equal to those attained during that same time period of 2008.
- July posted the 10th month in a row with increasing sales over the prior year, except for one flat month in June.
- There is a resemblance to a cycle that was experienced in years 2000-2004.
Judi Kiernan, owner of Telluride Consulting, has worked in the Telluride real estate market since 1972. Her company tracks all real estate activity in San Miguel County and publishes detailed monthly reports as a subscription service for brokers, appraisers, lenders and private investors.
Telluride Consulting also offers confidential custom reports, designed for trend analysis or historical purposes, which track the activity in any segment of the regional real estate market since 1985.
Compiled, Edited and Produced by: Telluride Consulting
Phone: (970) 728-3469
Fax: (970) 728-4051
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