November 2024 Telluride Market Report

In November 2024, San Miguel County's real estate market had a total dollar volume of $78.36 million from 53 transactions. Year-to-date, the total dollar volume has reached $950 million, up 2% from the five-year average. This rise suggests the ongoing trend of increasing average sales prices despite fewer transactions.

Although transaction volume has declined, the market remains strong due to increased prices and continued demand for premium properties. According to data from the Department of Housing and Urban Development (HUD) and the National Association of Realtors® (NAR), home sales have generally increased in the year following nine of the last 11 presidential elections. Additionally, home prices tend to rise yearly following elections, with few disruptions in election years. 

The comparison of the Telluride and Mountain Village real estate markets for November 2024 indicates ongoing stabilization in most sectors. Year-to-date total dollar volumes reveal notable increases in Telluride and the broader county, with a 35% rise in Telluride and a 37% increase for the rest of the county compared to the same period last year. However, Mountain Village has seen a slight decrease of 2% in total dollar volume, compared to YTD 2023.

Please don't hesitate to contact me if you have any questions on November’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 November 2024 Telluride Real Estate Market Report