Teddy Errico's Telluride Tales

Mountainfilm is well under way and the weather is gorgeous so far for the Memorial Day Holiday weekend in Telluride, Colorado. Its nice to see people in town again, and summer is here. The leaves on the trees are coming out, too and the Golf Course has opened.

Other June highlights include next weekends Balloon Festival. I love Balloon festival because on Saturday night they light the balloon’s on Main Street. You can also volunteer and help, and get a free ride across town. Other June highlights are Bluegrass and Wine.

As for Real Estate, we are still seeing good activity as evidenced by another $5 million dollar ski in/ski out home contracting in the Mountain Village.

As compared to the summer of 2009, Telluride, Colorado summer bookings are up 14%.

Overall June numbers are flat, due mainly to the steadiness of the Telluride Bluegrass Festival and July’s numbers are up 25%. August is up a whopping 84% due to the addition of the two Phish concerts in Telluride’s town park. May reservations are slumping, mainly due to Memorial Day being so late in the year and a cold and rainy May. September is off as well, but in time more people will book for Telluride Film Festival and Telluride Blues and Brews so I would expect September to be relatively flat.

I know the local businesses are excited to hear this great postive news and for me, its just nice to see numbers go up for a change.

The April Real Estate sales in Telluride’s San Miguel County once again showed improvement. Overall April 2010 increased 350% over April 2009 in dollar volume and 23% in number of sales.

Year to date, 2010 is up 114% in dollar volume and 45% in number of transactions as compared to 2009. This is good news, but to be somewhat realistice we are still slightly behind the pace of 2008.

As I mentioned in a previous Blog, the strong dollar volume is reflected by high-end residential home sales in the town of Mountain Village. There are still “deals” to be had, it just depends how selective you are as a Buyer and the exact location desired.

The Telluride Mountain Village residential real estate sales have been on fire in 2010.

The first half of 2009 brought about 5 residential sales in the town of Mountain Village with a dollar volume of just over $16 million.

As of May 10, 2010, there have been 9 residential sales in Mountain Village at a whopping total dollar volume of over $41 million with an additional 5 homes under contract at a total list price of $23 million.

Welcome news for the Telluride Mountain Village residential sector. Contact Teddy Errico for a detailed analysis on these sales or which properties for sale represent the best values.