Telluride Real Estate Activity Report: Q3 2024

 

It is common for real estate sales to slow down in an election year. Reports from Jackson Hole, Yellowstone Club, Vail, Crested Butte, and Sun Valley indicate that sales have slowed. In recent years, that was attributed to a lack of inventory, but today, inventories have increased in these locations. These markets appear to be stabilizing and returning to previous market conditions, where buyers and sellers may be on more even ground.

 

In Aspen and Telluride, the markets still show sales increasing over 2023. Telluride has a 2% increase in the number of sales, and the total dollar volume is up 15%, with the average sale price increasing 13%. Aspen is a highly coveted market that sometimes seems somewhat insulated from market conditions. Telluride appears to be trending in that direction as people recognize that it is an amazing community with increasing demand and extremely finite inventory. Telluride boasts an endless list of positive attributes driving this market, such as a low-key, sophisticated nature, stunning in-your-face landscape, welcoming authentic town with several ski lifts, tremendous dining, safe lifestyle, and endless adventures.

 

As Telluride matures with the addition of a Four Seasons, demand will likely continue to increase as people forgo the ease of access to other ski towns for Telluride's chill club-like atmosphere on the slopes and hiking trails. Warren Miller's famous quote has never been more poignant: "If you don't do it this year, you'll be one year older when you do."