Telluride is in the depths of the off-season and the snow keeps coming. The good news is eventually things will be very green.
Real estate sales in San Miguel County through the first quarter were down 50% in dollar volume and 47% in number of sales, with $168.10 million in total dollar volume and 90 sales. Despite this Telluride Consulting reports Q1 2023 dollar volume was the third highest of all time and compared to the 5-year average sales were down a more modest 16% in dollar volume and 38% in number of sales. First quarter numbers were boosted by 5 single-family home transactions totaling $34.8 million and 16 condo sales in Mountain Village for $45.9 million. The limited number of short-term rental licenses (STRs) in Telluride and the uncertainly going forward seem to be pushing Buyers to Mountain Village.
Property owners in San Miguel County should also note that 2023 is a reassessment year. All property owners will receive a notice of valuation (NOV) next month. NOVs will be mailed May 1 and owners have until the end of the month to protest their parcel’s valuation and/or classification. We specialize in this and would be happy to discuss your valuations at your convenience.
If you have any questions about the real estate market we'd be happy to jump on a call with you or prepare a report. Feel free to contact us online or give us a call at (970) 728-0213 or (970) 708-2255 (Jim's cell phone) with any of your real estate questions or needs!
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