Telluride | Mid-Year 2022
Perhaps nowhere else in the states does the slogan “Colorful Colorado” apply more aptly than in golden-hued Telluride. Perched at 8,750 feet and tucked into a beautiful box canyon, Telluride is a historian’s dream town, with its 1913 Sheridan Opera House, preserved gold rush cabins made of local pine and spruce, and its National Historic Landmark District designation. When the snow melts and the wildflowers bloom, the acres of rolling mountainside, the free scenic gondola, endless outdoor festivals, art galleries, restaurants, and shops keep visitors and locals busy and happy year-round. Located just 60 miles away from Montrose Airport, the Telluride region is accessible by ten major hubs across the country.
No matter your passion, Telluride has a festival to suit, from jazz, bluegrass, and film to culinary delights and more. Above all else, the area’s scenery astounds, whether you’re enjoying lush canyon views or the region’s many 13,000 to 14,000-foot peaks while walking around town or up on the trails. Every quarter, LIV Sotheby's International Realty produces a Micro Market Report analyzing real estate performance in San Miguel County, where Telluride is located. For quarter two, this report is a year-over-year comparison of the first six months of 2021 compared to the first six months of 2022, analyzing January through June.
With many migrating to this beautiful mountain area in recent years, inventory throughout the region has become more coveted than it already was. Year over year, the area saw a 29% decrease in listings sold from January through June of 2021 to 2022. Of the 157 listings sold during the first six months of this year, the average sold price increased by 36.2%. Now, this highly sought-after area features an average sold price of $2,985,203. This increase in value spread to the Surrounding Mesas as well, with the average sold price for all residential properties increasing by 16.3% compared to the same timeframe in 2021.
Throughout San Miguel County, available inventory flew off the market 43% faster than the previous year, with most listings lasting an average of 122 days during the first two quarters of 2022. Continue reading to learn more about how the real estate market performed in Telluride and beyond the first six months of the year. This Colorado Micro Market Report includes real estate data statistics for the following neighborhoods: Town of Telluride, Mountain Village, Surrounding Mesas, Norwood, and Ridgway: Ouray County.