Market Report

October 2014-Telluride Real Estate Market Conditions

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CURRENT TELLURIDE REAL ESTATE MARKET CONDITIONS Updated November 2014 The 2014 Telluride Real Estate Market has sustained its torrid pace through the first Three Quarters of 2014. Each of the nine months of 2014 has considerably exceeded the same time period in 2013. Markets outside of the Historic Town of Telluride are showing solid signs of improvement. Can we continue to sustain this pace and return to the prerecession sales levels? Overall the numbers continue to be extremely encouraging. September 2014 was up an eye popping 107% as compared to September 2013. August was up 83% in dollar volume as compared to 2013. July was up 167% as compared to 2013! The sustainment of these numbers throughout 2014 has even surprised the Realtors! As of September 30, 2014, overall sales in San Miguel County are up 70% in dollar volume and 32% in number of transactions as compared to 2013. With 2014 cruising along, it is very interesting to note, that as compared to 2013, the Mountain Village has finally showed some drastic improvement and taking advantage of the momentum caused by the market in the Historic town of Telluride. For example, there have been twenty sales of Mountain Village Homes and another five under contract. In 2013, a total of eight had sold. The pricing has not stabilized and sales have ranged from $324 per square foot to $923 per square foot, but still good news to see the activity and absorption. Mountain Village has also gotten back into the speculative building market once again, something not seen since 2008.

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