Portrait of the Telluride Regional Real Estate Market 2009/2010

In recent years I have researched the trends in our regional real estate market as pertained to rates of appreciation. The following is an overview of Sold activity for the region. Information has been derived from the Multiple Listing Service and encompasses a fourteen month time frame; January 2009 thru February 28, 2010.

As most of you are aware, within this regional market are limited supplies with high demand. Some things have not changed. Factors that continue to fuel demand even during an economic slowdown are; high quality of life, strict planning and zoning and of course being surrounded by magnificent beauty in the form of numerous public lands.

Please allow this information to serve you in several ways; as a Buyer please note the sometimes significant differences in Asking Price vs. Selling Price. Prices continue to be adjusted away from the previous speculative pricing models Sellers, please note price adjustments. Majority of Sellers realize they will still maintain a profit derived from the sale of their property, however, not necessarily at the former rates of appreciation.

Thank you for the continued opportunity to facilitate your real estate goals within this region.

Town of Telluride Residential

Current Inventory 74 homes

Low $649,999

High $15,000,000 (formerly Oak St. Inn)

Sold 13/5 Under Contract ( range: $6 million- $875,000 {bank owned}) YTD

Sold Low: $800,000

Sold High: $3,400,000

List Low: $875,000

List High: $4,200,000

Town of Telluride Vacant Land

Current inventory 39 (including west & east valleys)

Low $149,000 (Lawson)

High $3,150,000

Sold 2

Low $149,000 (Lawson Hill)

Sold Low: $405,000 (Butcher Creek)

Sold High: $1,200,000 (Depot)

List Low $405,000

List High $1,295,000

Town of Telluride Condos (Includes west valley, condo-hotels, Entrada deed restricted TOT )

Current inventory: 143

Low: $159,000 (Lawson Hill deed restricted condo)

High: $15,000,000 North Oak St. (formerly Oak St. Inn)

44 Sold/24 under contract YTD

Sold Low: $141,206

Sold High: $4,100,000

List Low: $141,206

List High: $4,995,000

Mountain Village Residential

Current Inventory 60

Low: $962,140 (single family deed restricted Boulders)

High: $ 22,000,000

Sold 21/ 4 under contract YTD

Sold Low: $345,000 (Coyote Court- deed restricted)

Sold High: $10,100,000

List Low $375,700

List High: $11,500,000

Mountain Village Vacant Land

Current Inventory 91

Low: $152,000 (deed restricted Boulders)

High: $20,000,000 (4+ acre development parcel)

Sold 9/1 Under Contract YTD

Sold Low: $130,000 (deed restricted Boulders)

Sold High $1,900,000

List Low: $144,000

List High: $2,475,000

Mountain Village Condos

Current Inventory 165

Low: $134,406 (Peaks condo-hotel)

High: $6,490,000

Sold 32/34 Under Contract (Peaks condo-hotels majority of prop. uc)

Sold Low: $198,700

Sold High: $3,288,775

List Low: $198,700

List High: $4,165,750

Fractional Ownership (MTV & TOT)

Current Inventory 100

Low: $30,000

High: $450,000

Sold 54/4 Under Contract YTD

Sold Low: $20,000

Sold High: $562,500

List Low: $25,000

List High: $575,000

West Valley Residential (including Hillside, Lawson Hill)

Current Inventory 7 (5 deed restricted)

Low $319,000

High $1,595,000

Sold 0

Down Valley (Placerville, Sawpit, Fall Creek) Residential

Current Inventory 31

Low $299,900 (Two Rivers Deed Restricted)

High $1,950,000

Sold 2

Sold Low $549,000 (bank owned)

Sold High$700,000 (Realtor’s residence- not listed on MLS @ time of sale)

List Low $ n/a

List High $ n/a

Ophir, Trout Lake, San Bernardo Residential

Current Inventory 13 (6 Ophir/7 Trout Lake/0 San Bernardo)

Low $269,000 (rustic cabin Trout Lake)

High $1,795,000 (home on 17 acres Ophir)

Sold 5/1 under contract

Sold Low $321,000 (Hidden Lakes cabin)

Sold High $470,000 (newer home in Ophir)

List Low $321,000

List High $499,998

Telluride Mesas Residential (Deep Creek, Turkey Creek, West Meadows, Ski Ranches, Aldasoro)

Current Inventory 48

Low $625,000 (Ski Ranches)

High $20,500,000 (Grey Head)

Sold 7

Sold Low $520,000 (Ski Ranches fixer upper)

Sold High $10,100,000 (Greyhead)

List Low $695,000

List High $11,100,000

Telluride Mesas Vacant Land (Deep Creek, Turkey Creek, West Meadows, Ski Ranches, Aldasoro)

Current Inventory 45

Low $200,000 (deed restricted Aldasoro)

High $4,600,000 (Sunnyside Ranch)

Sold 4/3 under contract YTD

Sold Low $775,000

Sold High $5,250,000 (70 acre West Meadows parcel)

List Low $775,000

List High $6,600,000

North Mesas Residential (Hastings, Iron Springs/Horsefly)

Current Inventory 16

Low $419,000

High $3,245,000

Sold 2/1 Under contract

Sold Low $529,000

Sold High $1,725,000

List Low $545,000

List High $1,892,875

North Mesas Vacant Land (Hastings, Iron Springs/Horsefly)

Current Inventory 49

Low $139,000

High $7,850,000 (1002 acres on Iron Springs)

Sold 7

Sold Low $197,000

Sold High $700,000

List Low $199,000

List High $815,000

South Mesas Residential (Wilson, Sunshine, Specie)

Current Inventory 6

Low $725,000

High $4,950,000

Sold 2

Sold Low $570,500

Sold High $1,610,000

List Low $624,900

List High $1,795,000

South Mesas Vacant Land (Wilson, Sunshine, Specie)

Current Inventory 27

Low $275,000

High $18,972,000 (527 acres)

Sold 4

Sold Low $205,000

Sold High $525,000

List Low $219,000

List High $850,000

Norwood/West End Residential (Norwood, Redvale, Naturita, Nucla, Bedrock)

Current Inventory 91

Low $39,000

High $2,800,000

Sold 30

Sold Low $47,000

Sold High $800,000

List Low $55,000

List High $950,000

Norwood/West End Vacant Land (Norwood, Redvale,Naturita,Nucla,Bedrock)

Current Inventory 96

Low $16,500

High $5,500,000

Sold 6

Sold Low $10,500

Sold High $200,000

List Low $14,500

List High $200,000

Ridgway Residential (Town of Ridgway, Elk Meadows, Log Hill Mesa, Ouray valley)

Current Inventory 98

Low $175,000

High $10,300,000

Sold 24

Sold Low $100,000 (single-wide on town lot)

Sold High $1,300,000

List Low $119,000

List High $1,500,000

Ridgway Vacant Land (Town of Ridgway, Elk Meadows, Log Hill Mesa, Ouray valley)

Current Inventory 216

Low $20,000 (mining claim)

High $19,500,000 (1468 acres)

Sold 17/ 2 Under Contract

Sold Low $70,000

Sold High $3,500,000 (268 acres along Uncompahgre River)

List Low $81,900

List High $4,275,000

Rico Residential (including Dolores River)

Current Inventory 10

Low $179,000

High $419,000

Sold 3

Sold Low $165,000

Sold High $7,395,000 (132 acres, numerous outbuildings, river-frontage)

List Low $171,500

List High $9,500,000

Rico Vacant Land (including Dolores River)

Current Inventory 19

Low $59,000

High $1,750,000

Under Contract 1

List High $2,500,000 (248 acres surrounded by USFS)

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