Record Setting 2021 Real Estate Finishes with a Bang

Record setting 2021 Real Estate finishes with a bang in Telluride and San Miguel County.  Overall in 2021 we saw over $1.4 billion in transactions take place.  This shattered the previous record in 2020 of $1.1 billion.

The number of transactions was also record setting with 944.  Absolutely insane, especially with the limited inventories of property to purchase.

Dollar volume was up 37% in the town of Mountain Village, and the remainder of the County (not Telluride and Mountain Village) was up an astonishing 61%.  the limited inventory hurt the town of Telluride with a decrease of 11% in dollar volume.

What's also astonishing, is that there were 65 sales in our region in excess of $5 million, 11 of which were over $10 million.

It looks like we will continue to see prices increase with Buyers willing to step up to the plate.  The Telluride region will be continually challenged by the lack of opportunities for Buyers.  Sellers seem unwilling to list their properties, because moving up or down is so difficult.   Most Sellers have to accept the fact that they are moving out of the region, unless they own multiple properties, or have found a suitable replacement home in advance of listing.  Simply put, a Seller has to be "over" Telluride.  Whether they want to cash out, have a lifestyle change, don't use their property enough so its justifiable to make the money, or they are upset with local politics, like the short-term rental restrictions.