Telluride Real Estate For Sale
Stewart Seeligson: Telluride’s top broker
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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.
For buyers, sellers and investors
The first six months of 2019 produced lackluster results – 25% off of the same period in 2018. However, a very strong summer sales season is turning 2019 around. Through the first eight months, 2019 has almost caught up to last year with a total of $202 million in sales – only 5% off last year’s pace. As of August 31, 2019 there were $82 million of properties under contract (based on asking prices) versus $76 million in 2018. So there is a real chance that this year will match last year in terms of total dollar sales. The number of transactions will remain behind last year’s pace which means that average sales price per transactions will improve over last year. Overall, with one of the strongest performing summers on record, 2019 is turning into a very impressive year. Not the rockstar performance of 2017 but impressive nonetheless.
Telluride home segment started the year fairly strong with 6 homes sold through June however only 5 additional homes sold in July and August creating a lag compared to the performance of the previous year. This lag is primarily caused by a reduction in inventory this year compared to last. Seller’s Market for properties that aren’t quirky. Through August, the Town of Telluride condo segment essentially matched the previous year in terms of units sold, but significantly surpassed last year in terms of total dollar volume of sales. The averaged price of units sold increased by 32% compared to last year. Seller’s Market for condos under $2.5 million. Depleting inventories of lots not yet developed has inevitably sent this segment toward a general downward trend in terms of number of units sold. Seller’s Market for lots under $1.2 million.
The Mountain Village Home segment is almost catching the pace of 2018. Of the 11 homes sold, only 2 closed for over $5 million despite 40% of the available inventory having an asking price in excess of that threshold. Strong Buyer’s Market for Homes over $5 million. Despite a declining inventory of condos in Mountain Village with asking prices less than $2 million – the most desired price segment of Mountain Village condos – a strong July and August rallied the segment to nearly catch 2018. Seller’s Market for condos under $2 million. The Mountain Village lot segment is the only segment in the Telluride region that never recovered from the Great Recession. Forces have been gathering momentum over the last few years to create a higher demand for these lots, but so far those changes in market conditions have not materialized into a notable increase in lot sales. Very Strong Buyer’s Market for lots.