October 2023 Real Estate Sales

October 2023 Telluride Real Estate took a little bit of a hit as compared to the last five years.  Per LIV Sotheby's International Realty Trusted Advisor, October dollar volume of $58 million was the lowest performing October since 2016.

Why were numbers down 36 percent from last year?

Good question.  I think it's a combination of a few factors.  The high mortgage rates, which haven't been seen since the early 2000's hasn't helped. Some Buyers are nervous on the economy and seeing markets like the Hamptons get flooded with inventory due to Sellers freeing up capital and dealing with impending variable mortgage rate changes.  Locally, Buyers are hesitant to set records right now, unless the product is perfect, and that's tough to find with inventory limited.

Year to date, we've fallen behind 2020 now, so we are on track to be the fourth best year ever, so its now all bad news.  The 2023 dollar volume of $745 million is off 25% as compared to 2022.

We have great snow and are expecting more terrain to open.