The Best February for Real Estate Ever

February 2022 was the best month of February sales ever for Telluride Real Estate.  Over $95 million changed hands in San Miguel County, up 14% from February 2021.

Leading the way was the Town of Mountain Village.  Single family homes sold in the European style village accounted for almost $29 million, with condominiums adding another $20 million.  Add in one lot sale and that accounts for more than half of the dollar volume!  

The first 2 months of 2022 has seen an astonishing 47% increase in the average sales price in San Miguel County.  That average price for a home is now at $2 million.

Year to date we are up 11% in dollar volume, yet down 24% percent in the number of sales, which is typical in our current situation of limited inventory. This is the 21st month in a row that the total dollar volume of sales has exceeded that of the prior 5-year average for the same time period.  

The biggest surprise to me?  We are now seeing luxury properties in the town of Telluride trade for as high as $2500 per square foot.

The fever for Buyers to get a piece of Telluride has never been stronger.  Sellers are maximizing their returns. The market is nothing short of crazy and has that  feel like Manhattan or San Francisco in their prime.  Buyers and their Brokers  have to act faster than ever, or they miss out.