Telluride Market Update
July delivered encouraging performance across several key metrics in our real estate market indicating continued buyer interest and market activity. The Residential Median Value remained strong, underscoring solid demand across a broad range of price points.
However, July Average Residential Values came in slightly below last year's year-to-date average, primarily due to the absence of a few mega-luxury sales that have defined the past few extraordinary years. At least one benchmark sale of 137 Hood Park at $39, 325,000 ($2,137/SF) closing in early August will redefine luxury values in the region.
When it comes to inventory, the market is settling back into pre-pandemic rhythms. Comparing gross dollar volume to those earlier years clearly shows how far values have climbed since 2020. The current landscape suggests that we are finding new pricing benchmarks as both inventory and sales activity trend back toward historical norms.
