Getting Its Edge Back
Like a new pair of Solomon Shogun skis, the Telluride real estate market is getting its edge back. The last few years have been slow, and like many real estate markets, Telluride’s spectacular real estate value rise since the 1980’s slowed to a crawl. Inventory increased and transactions were not keeping up with the supply. That is now changing. Transactions both in volume and dollar amounts have increased significantly in 2012. The town of Telluride is leading the charge with single family home sales. Condominium sales in the Mountain Village are picking up. The supply of competitively priced properties is shrinking. It is a Buyer’s market, but many property owners and sellers in the Telluride market have a limited amount of lender exposure on their properties, and this has given good price stability. There is still good value to be purchased, but as the properties are absorbed, new listings will most likely come with a higher asking price.
The commercial market is coming back. Lease rates are stable and vacancy rates are near zero for retail and 2%-3% for office. One unique historic property we are currently offering for sale is the “Mahr Building” in downtown Telluride, located at the site of the first bank robbed by Butch Cassidy. Asking price $2,749,000. View this listing at our website. During the down turn, Telluride was blessed with good snow conditions and our visitor count was minimally affected. The summer season of course is packed with fun events, Bluegrass, Jazz, and Blue & Brews music festivals, and Mountain Film and Film Festival for celluloid lovers. The future is bright for Telluride and Telluride’s real estate market. Come and enjoy our mountains. Call us if you would like to look at real estate.