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 four months of 2019 generated $91 million in sales which fell 14% short of last year’s total sales over the same period. Real estate sales were off by more than 50% in April compared to April of last year ($8.1 million vs $17.3 million). I believe there are two reasons for the pull back of this year compared to last year. Primarily, inventory levels fell significantly in the most desirable price points (under $3 million for homes and under $2 million for condos). Secondly, the stock market notable correction in late December 2018 coupled with widely publicized projections of a global economic slowdown may have given buyers the jitters. We will have to wait and see what summer sales bring.
Telluride home segment is starting the year fairly strongly with five homes sold through April. However only one home is currently under contract. In recent years, the most highly sought after price point for condos in Telluride has been units under $1.5 million. Today, there is very limited inventory in that price segment which may significantly restrict the total number of sales for the segment in 2019. Depleting inventories of lots not yet developed has inevitably sent this segment toward a general downward trend in terms of number of units sold.
Four homes sold in the Mountain Village during the first four months of 2019 with only one additional home under contract. During the same period in 2018 nine homes were either sold or under contract. This lack of home sales in Mountain Village is a real flag for the segment. Notably, nearly half of the 57 homes currently on the market have an asking price of over $5 million. The declining inventory of condos in Mountain Village with asking prices less than $2 million inevitably lead to a pull back compared to last year’s sales. Through April, this year has 21 condos sold or under contract compared to 31 in 2019. One lot sold in the Mountain Village so far this year.