Telluride Real Estate For Sale

Stewart Seeligson: Telluride’s top broker

 

111 Adams Way, Mountain Village

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stewart seeligson top broker

TELLURIDE REAL ESTATE FOR SALE

Stewart Seeligson: One of Telluride’s Top Brokers

Stewart Seeligson’s business education and diverse real estate experience set him apart from other real estate brokers in the Telluride region.

Since making Telluride his home, Stewart has been an active participant in the local community. He is an annual volunteer at the Telluride Film Festival and a board member of the Telluride Young Life. He is also a strong financial supporter of many Telluride charities including the Telluride Rotary, the Aha School, the San Miguel Resource Center, Telluride One-to-One, and the Volunteer Fire Department.
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Featured Listing

100 Stevens Dr

$3,900,000

CURRENT CONDITIONS

For buyers, sellers and investors

OVERALL MARKET

One of the biggest surprises in my career of studying the Telluride regional real estate market is the impact of the Covid-19 pandemic. Unpredictably, the pandemic escalated the demand for properties that has been steadily increasing over the last three years. As people stayed home during April and May, their desire to have a second home in a remote area percolated. Remote resorts across the country are reporting a step change in demand for properties. As inventories continue to dwindle and prices continue to rise, the biggest question facing our market today is how many owners will decide to make their properties available for sale to take advantage of the strongest Seller’s Market in memory. If they don’t, the stall to the market will be significant and upward pressure on prices will continue to mount perhaps exponentially. Economic theory suggests that the high prices will eventually make sellers out of a sufficient number of owners to somewhat stabilize the market. It will be fascinating to see what happens in the second half of 2020 and the year following.

TELLURIDE

The Telluride Home segment is matching its best start in at least 15 years with 14 sales. There are two primary differences from this blazing start and the strong starts of years past. First, the average price of $3 million and, secondly, the current low level of inventory of 17 homes indicates the strength of the Seller’s position in this market. Buyers have little defense in this segment which should lead to significant price appreciation over the next 12 months. Strong Seller’s Market. The Telluride condo segment has been nothing short of sensational this year. With only 35 sales almost $100 million in dollar volume has been generated. The average sale price has more than doubled compared to 2019 to an almost unbelievable $2.7 million. Seller’s Market. The single-family lot segment in the Town of Telluride started the year slowly with only one sale through the first four months. Two months later only one other sale has occurred. Given the strength in the Telluride Home market, the lot segment seems ready to pop. Neutral Market Overall.

MOUNTAIN VILLAGE

Mountain Village is enjoying its best start in the single family segment since 2017 and the second best start in a decade. This year is easily surpassing last year’s sluggish start. Of the 12 homes sold, 4 closed for over $4 million and 2 for over $6 million. Inventory fell as low as 34 homes in May during the lockdown but now is up to 46 homes – still a historically very low level. Seller’s Market under $4 million. Buyer’s market over $6 million. Despite the unexpected step change in demand, the condo segment in Mountain Village is struggling to perform in terms of total units sold highlighting the continued reduction in available inventory. Nonetheless, this year is matching last year in total dollar volume. Neutral Market over $2 million. The weakness of the Mountain Village lot segment continues due primarily to an abundance of inventory across all price points. Continued Strong Buyer’s Market.

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Town of Telluride

Mountain Village

Ski Ranches

Aldasoro

Idarado