Telluride, CO Real Estate
In the real estate industry, much like other market-driven sectors, predicting the direction and momentum of the Telluride real estate market can be challenging. While the most widely relied upon and dependable measure is the number of sold/closed transactions, which appraisers use to illustrate past trends, those who endured the last major recession and real estate market meltdown understand that historical records of closings and values may not accurately forecast future trends. Telluride Consulting and various title companies have made historical data and information accessible to real estate professionals, providing a reasonable basis for understanding the market’s trajectory. However, as we have all witnessed, this market can shift rapidly.
In response to our office’s discussion regarding the need for more forward-looking data to gauge market trends, my colleague and data enthusiast, Scott Bennett, has devised a method to provide us and our clients with a better understanding of market momentum and future behavior. Scott has created a method and chart that displays the monthly volume of new real estate contracts initiated each month within our MLS area. These charts depict the year-over-year changes in the monthly volume of new contracts and offer a more current assessment of transaction volumes and fluctuations in dollar amounts.
These charts will be regularly updated at the beginning of each month for the previous month’s data. We encourage you to bookmark our website and visit it regularly for the latest updates and to view the most recent Telluride, Colorado real estate listings.