Telluride Real Estate For Sale

Stewart Seeligson: Telluride’s top broker

 

229 E Serapio Dr, Telluride CO

Magnificent residence in Aldasoro Ranch

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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

135 Polecat Lane

$7,950,000

CURRENT CONDITIONS

For buyers, sellers and investors

OVERALL MARKET

The unexpected surge in demand for properties driven by the Covid pandemic continued through July as reflected in the total number of transactions, total sales volume and declining inventory. The first seven months of 2020 easily outperformed 2019 over the same period across most individual market segments. The question arising is “how does the 2020 market compare to the 2017,” the best performing year since the Great Recession and the second biggest year ever for the Telluride regional real estate market. Through July, This year produced $282 million in sales on 124 transactions almost doubling 2019 in total sales volume and a 30% increase in the number of transactions. By comparison, over the same time period in 2017, 189 transactions generated $283 million in sales. In summary, thus far, 2020 is matching 2017 in total dollar volume but is doing so on 35% less transactions. Consequently, 2020 is likely to register the highest average sale on record.

TELLURIDE

The Telluride Home segment enjoyed its best start in at least 15 years with 19 sales. The current low level of inventory of 17 homes suggests that the segment is not likely to keep up the pace and match 2017 by year end. 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. The 47 sales have generated over $100 million in dollar volume. The average sale price has doubled compared to 2019 to an unprecedented $2.2 million. With only limited opportunities to build more luxury condos the question is at what point will it make sense for a developer to attempt to redevelop existing aged product by taking control of an entire complex. Seller’s Market. The single-family lot segment in the Town of Telluride started the year slowly with only two sales through the first seven months. However, 4 additional lots are no under contract. Despite 18 lots currently on the market, given the strength in the Telluride home market, the lot segment seems ready to pick up speed. Neutral Market Overall.

MOUNTAIN VILLAGE

Mountain Village is enjoying its best start in the single family segment in a decade. This year is significantly outpacing last year’s sluggish start. Notably, of the 16 homes sold 50% closed for over $4 million and 25% closed for over $6 million. Inventory has fallen to 41 homes – a historically very low level over the last fifteen years. Seller’s Market under $5 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 because of the astounding 50% increase in the average sale price. Neutral Market over $2.5 million. The notoriously weak Mountain Village lot segment is showing sparks of life for the first time since 2007. With 25 lots sold or under contract, the segment will enjoy its best year since 2007. Inventory levels remain high with 66 lots on the market giving buyers many choices. Continued Strong Buyer’s Market.

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Neighborhoods

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Town of Telluride

Mountain Village

Ski Ranches

Aldasoro

Idarado