February 2023 Telluride Real Estate Numbers

Well?  Once again, the Real Estate Numbers for Telluride and San Miguel County are off for February 2023.  So what happened?  Its a good thing Trusted Advisor Teddy Errico from LIV Sotheby's International Realty is here to navigate the market.

February 2023 was off 49 percent in dollar volume as compared to February 2022.  So our market saw $48.65 million in sales, as compared to $95.62 million in 2022.  That drop looks bad, but what we are seeing is the return to the pace of the pre-pandemic.  These numbers are very similar to February 2020 at $48.06 million and far greater than 2019 and 2018.

But there is a catch 22.  The number of sales dropped significantly.  Just 20. That's 61 percent off of 2022 and the worst February since 2009, the start of the Great Recession.  But that also means the values are holding steady.

We continue to see the stalemate where Buyers think is a Buyers' Market and Sellers think it's a Selles Market.   You can argue its both and it all depends on the individual property  It will be interesting to see what happens throughout March, typically our biggest month of Real Estate Contracts during the Ski Season.

I'll be sure to get you an update in early April.

But for now?  Lets go for a ski.