December 2024 Telluride Market Report

The San Miguel County real estate market closed 2024 on a high note, achieving over $1.004 billion in sales across 483 transactions. This marks a 16% increase in total sales volume and a 9% rise in transactions compared to 2023, solidifying the region's reputation as a prime destination for luxury living and investment.

This milestone marks the 4th highest sales total in the county's history and reinforces the strong appeal of the Telluride region's unique lifestyle, world-class amenities, and unparalleled mountain views.

Market Insights

The average sales price in 2024 rose 7% to $2.08 million, driven by limited supply and strong buyer interest. Both Telluride and Mountain Village recorded 24 single-family home sales, but the difference in sales volume highlights the distinctive nature of these markets:

• Telluride: $155.5 million

• Mountain Village: $235.5 million

Mountain Village's larger properties contributed to its higher sales volume. These figures highlight the enduring demand for high-end properties as buyers seek exclusive vacation homes, investment opportunities, and proximity to a premier resort and world-class amenities.

Looking Ahead to 2025

While elevated mortgage rates may temper real estate activity in some markets across the Country, resort towns like Telluride are poised for continued strength. Luxury resort markets, supported by limited inventory and steady demand, are expected to remain resilient.

Lifestyle-driven purchases continue to take precedence, further cementing San Miguel County's position as a premier real estate hub. Whether it's a vacation home, a legacy property, or an investment in a world-renowned destination, Telluride offers unmatched opportunities.

Please don't hesitate to contact me if you have any questions on December’s Market Report. I am here to help you navigate this dynamic region and find the property that perfectly aligns with your goals. 

What's hot in the region?

As of the end of 2024, Mountain Village continues to offer more competitive pricing compared to Telluride. The average price per square foot for condominiums in Mountain Village is $1,372, while single-family homes average $1,608 per square foot.

In contrast, Telluride's condominiums have an average price of $2,034 per square foot, with single-family homes averaging $2,213 per square foot. This significant price gap highlights Mountain Village's appeal to buyers seeking better value for their investments, while Telluride remains firmly positioned as a premier luxury market with considerably higher price points.

As your trusted real estate advisor, I am here to help you navigate this dynamic market and find the property that perfectly aligns with your goals. Please don't hesitate to contact me if you have any questions on December’s Market Report, or if you would like more detailed information about specific areas or properties.

(970) 708-5601
ken@grodbergrealestate.com

View the Full December 2024 Telluride Real Estate Market Report