August 2022 Telluride Real Estate Numbers

August 2022 Real Estate Numbers are in for Telluride. Following the beat of the last few months, once again they are down and this time?  A little bit more significantly.  August 2022 was off 21% as compared to August 2021 with a drop of Twenty Million in dollar volume.  The numbers of sales were of 35%.

So the signs are solidifying more that there is a slowdown in Telluride Real Estate.  But why were they off that much?

From personal experience, I have noticed that Sellers are still expecting significant appreciation on their homes and trying to set new benchmark sales.  Specifically, I have seen two deals never materialize because the Seller was unrealistic.  In one case, I was offered a record setting price for a specific in town condominium complex, and my clients balked and bought out of region.  In a second case, my Buyers were offering a strong amount for a condominium that had a "Home Depot" style finish and poor layout and those Buyers also went out of market.  Funny, because that Seller is now listed at what we offered.  These two deals alone would have increased the August Numbers by almost 10%.   

That leads to another point.  It doesn't take too many transactions to skew data here in Telluride.

We could also finally be settling into a pre-pandemic dollar volume period.  Our August numbers were also off 5% as compared to the previous 5-year average.

So what you need to do is stay in direct contact with your Broker on what's happening.  It changes that fast. I'd like to think that between my expertise and LIV Sotheby's International Realty on your side, that's your best choice.