Telluride Real Estate Sales Surge in August

This is an interesting analysis of August’s Real Estate numbers from the Telluride Daily Planet.

After a slower than average start to the year, real estate sales picked up in a big way  in August.  Through the first seven months of the year, the number of sales was down around 13 percent from 2012 while the dollar volume of sales was down  10 percent, according to numbers compiled by Telluride Consulting. But August brought a major boost; the number of sales for the month was up 23 percent from August of 2012 while the dollar volume was up 56 percent. With the August activity, the number of sales for the year is now down only 7 percent from last year and the dollar volume is back to even.
Local realtors are optimistic that things could pick up again in September, but say it’s too early to predict. According to Judi Kiernan, who owns Telluride Consulting, the August numbers were a big boost for the year. “One month can make a huge difference because we are such a small market and the news [about August] is a big contrast to July,” Kiernan said, but added that “one month does not a trend make.  “I don’t think there’s actually a reason, I think it’s as random as last month’s poor performance,” she said.
In all, 48 sales were made in August, up from 38 last year and it was best August since 2007. The dollar volume of the sales totaled $46.9 million, up from $30.1 million in August of 2012. It came on the heels of a poorly performing July, which saw 27 sales, down from 34 in July of 2012. The dollar volume for the month was down 43 percent compared with   July of 2012, meanwhile. Kiernan said about $10 million of the August sales came from condominiums in Mountain Village and another $6.5 million came from land transfers in Telluride.

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