Telluride March 2023 Real Estate Numbers

Here is the March 2023 Telluride Real Estate Market Report from your Trusted Advisor Teddy Errico of LIV Sotheby's International Realty,

Overall, the market continues to be slow.   March 2023 mirrored the trends we have seen since December 2022.  Does that mean we continue to be about half off from the pandemic crazy and frenetic pace?  Well, March 2023 is up considerably from 2020 and 2019, so that's good.

The $75 million in sales, is half of what we saw in March 2022, and the Number of sales were off by half as well.

Why?

There are multiple reasons.

The most prominent is the fact that we are now back to a pre-pandemic level of number of sales but are seeing the dollar volume approximately 50% higher than 2019 levels and 2020 levels. Thats good news for property values.

We are mentally at a stalemate still.  Buyers want deals.  Sellers want to break records.  That is not helping us at all. 

Add in the higher interest rates and lack of inventory and there you go.

But I'd argue this market is still far more healthy and far better off than in Quarters 1 in 2019 and 2020.

Stay tuned for my Quarter 1 Marker Report Video, coming soon to a social media platform near you.