A Strong Month for Telluride Real Estate!

The May 2023 Telluride Real Estate Numbers are in.  The office of Teddy Errico at LIV Sotheby's International Realty in Telluride, Colorado is happy to report that May sales were fantastic. 

Overall, May 2023 sales came in at $88 million in dollar volume for San Miguel County.  That is just 4% off of May 2022.  To give a little perspective, the sales in May 2020 totaled $29 million.

The number of transactions were off 15%, showing that values are still increasing.

The strong May showing has Telluride just 36% percent off the pandemic pace of 2022 for the year.

As we hit the Summer Selling Season, it will be interesting to see where the Telluride Market goes.  We are seeing more inventory pop in the historic town of Telluride, but the prices are not dropping.  The Mountain Village, which continues to carry the market, ($51 million of sales in May 2023) will continue to see an inventory shortage. 

At some point, will the town of Telluride pop?  I think yes.  The prices per square foot in Mountain Village will continue to climb, and therefore Telluride will be more of a comparable option.  And yes, I also believe the Town of Telluride Government will be more friendly to second homeownership moving ahead.  But that's another story.