Teddy Errico Sells Telluride Peninsula Home for $640,000

Earlier this week, Broker Associate Teddy Errico of Telluride Sotheby’s International Realty sold 3375 Peninsula Drive.  Located on Specie Mesa about 45 minutes drive to the resort town of Telluride, Colorado, this home was in excellent condition and sits on 35 acres.

birds-eye-1 Liv Room 2 SAMSUNG DIGITAL CAMERA

Overall this 3 bedroom residence featured over 2,700 square feet, with a two car garage and nice views.  For details on the sale click here: Telluride Mesa Sale

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Snow Total Update From Telluride

The storm this weekend brought a total of 20 inches to the Telluride Ski Area. For those of you counting at home the 2 consecutive weekend storms totaled 53 inches of pow!

This is going to be one of the best opening weeks in my 19 years of living here

More Snow in Telluride

So far, today Sunday November 23, the Telluride Ski Resort has received 8 inches and its still dumping.  Its going to be a great opening this week!  The Gondola is open, skis are getting tuned, bombs are going off high on the Mountain and my wife and I won a Turkey last night at The Elks Club Bingo fundraiser.  Yep, skiing is almost here.

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Building Action in Telluride Mountain Village

Earlier today I took a drive through the town of Mountain Village to see if the Building activity within the Town of Telluride has had a positive spillover effect.  Overall there are 10 new homes being built in a variety of stages from dirt/foundation work to finish work.  The sizes differ as well, with smaller properties of about 2,500-3,000 square feet being built at Trails Edge and Cabins at Gold Hill to Oprah Winfrey’s monstrosity on the end of Snowdrift Lane.

The finishing of Bank Owned phase 2 of Cortina and Lorian 3 are ongoing as well.  I also noticed seven large residential remodel projects.

So, to summarize, the activity is good and an improvement over the last 5 years, but not as crazy as one might think.  Building costs are still somewhat stable, with new luxury construction averaging about $425 per square foot

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Telluride Gets 33 Inches of Snow!

The Telluride Ski Resort has reported a 33 inch storm total for this weekend.  Great news!

Hotel telluride

The Hotel Telluride is covered in snow this morning.  Thanksgiving is opening day!

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Much Needed Snow Falling In Telluride, Colorado

So far its just 8 inches of fresh white snow, but we are expecting more as Telluride is under a Winter Storm Warning until 6 am Sunday.   Expected snow accumulation is 18 inches !

Yesterday, these Elk were waiting for more snow to fall on the Bridges Ski Trail just above Mountain Village Boulevard as well!

Elk on Bridges

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October Real Estate Sales Keep Torrid Pace

October Real Estate Sales in Telluride continue to surge.  Overall October 2014 sales were up 66% as compared to 2013 and the number of transactions were up 20%.  The numbers just continue to sizzle.  $55 million in sales for October! As for year to date, we are up an astonishing 70% in dollar volume and 31% in number of transactions as compared to 2013.

October saw $16.8+ million close in Mountain Village homes, while both the historic town of Telluride and Mountain Village condo market had $10.2+ million in sales each.

Telluride is now averaging over $1 million in each sale!  Wow.

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New Telluride Medical Center Will Be In Mountain Village

The Board of the Telluride Hospital District, acted quickly after the Town of Telluride Voters denied use of the RV lot on west Telluride for a future Medical Center.  Of the three sites available, The new Medical Center will be in Mountain Village, along Mountain Village Boulevard in between the Fire Station and market.  The town of Mountain Village is giving that parcel away for free!

Also, pushing that decision was the Gondola access, for tourists who often do not travel here with vehicles and locals who won’t have to get in their car for medical care.  Closer proximity to skiing and mountain biking accidents was also a plus.  Further good news is this new site allows for further expansion of over 25,000 square feet if needed.

There is still a lot of work to be done, including a major fundraising campaign.  This search started in 2006.  The current facility was built in 1978 and is too small for the community’s needs and is on land the Medical Center rents from Idarado Mining Company.

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Telluride Election Results

Two major ballot issues in Telluride, Colorado were decided yesterday.  The Telluride School District won in its bid to raise $24 million dollars for expansion of  the high school/middle school.  The expansion will feature more classrooms, expanded cafeteria, new AstroTurf athletic fields, new gymnasium, redesigned entryways, performing arts space and more.

The second question involved the RV parking lot on South Mahoney Drive and its future use.  The Medical Center had hoped to win the election and entertain the idea of keeping the Medical Center in historic Telluride.  Unfortunately the voters decided an alternate use was the highest and best use.  Possibilities?  A Rec Center and Affordable Housing, and both are good candidates for that space off of South Mahoney Drive.  It looks like the Medical Center will end up in Mountain Village near the Mountain Village market, or Lawson Hill.  Personally, I prefer the Mountain Village location, of these two choices, due to its accessibility by the Gondola, and easier access to take injured skiers off the resort.

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September is Another Great Month For Telluride Real Estate Sales

September 2014 was a great month for real estate sales in San Miguel County.  Overall September sales volume was up 107 percent as compared to 2013 and the number of transactions was also up 62 percent.

Leading the way with mirrored sales figures, were houses in the Town of Telluride and houses in the Town of Mountain Village at $16 million apiece.  Next in line, both Town of Telluride condominiums and Town of Mountain Village condominiums came in at $14 million apiece.

Year to date Telluride Real Estate Sales are up a whopping 70 percent in Dollar Volume.  Great news as we head into the Off-Season and get ready for Skiing!

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