Telluride Luxury Market Digital Report for August 2023
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Telluride Single-Family Luxury Real Estate Market: July 2023 Insights
In the picturesque town of Telluride, nestled within the embrace of the stunning San Juan Mountains, the real estate landscape is as captivating as the scenery itself. If you're in the market for luxury single-family homes, this is the time to pay attention. In this blog post, we'll delve into the latest insights and trends in the Telluride real estate market, shedding light on key data and showcasing the expertise of Mountain Rose Realty, a prominent player in the industry, and their dedicated realtor, Anne-Britt.
A Buyer's Market and the Numbers Behind It
As of July 2023, the Telluride single-family luxury real estate market has shown an interesting trend. Classified as a Buyer's Market, the sales ratio stands at 2%. This indicates that buyers have more negotiating power in their hands, making it an opportune time to explore the available listings.
Median Sales Price and Active Price Bands
The median sales price for luxury single-family homes in Telluride is an impressive $6,100,000. Within this market, there is a particularly active price band ranging from $3,000,000 to $3,499,999. Homes within this range boast a 25% sales ratio, providing a glimpse into the preferences of buyers seeking a specific range of luxury and amenities.
Sales Price Trends and Negotiating Power
In July 2023, homes within the Telluride single-family luxury market were sold for a median of 90.55% of their list price. This figure gives potential buyers insight into the current climate for negotiations, and it's evident that well-priced properties are attracting serious interest.
Time on the Market: An Interesting Shift
July 2023 saw a notable change in the median days on the market. The figure soared to 554 days, a substantial increase from the 77 days recorded in July 2022. This shift suggests that buyers are taking their time to assess options and make informed decisions, underlining the importance of strategic pricing and presentation.
The Telluride single-family luxury real estate market in July 2023 offers a fascinating blend of trends and figures. As a Buyer's Market with a 2% sales ratio, buyers have the upper hand in negotiations. The $3,000,000-$3,499,999 price band is particularly active with a 25% sales ratio, while the median luxury sales price is an impressive $6,100,000.
Trends in Telluride's Luxury Attached Market
As of July 2023, the Telluride luxury attached real estate market paints an interesting picture. It's currently a buyer's market, with a 12% sales ratio, offering favorable conditions for those looking to invest or settle down in this picturesque region. One of the most significant indicators, the sales price ratio, reveals that homes are selling for a median of 96.19% of their list price, showing that negotiations are playing a crucial role in transactions.
Spotlight on Pricing and Activity
The price band that has seen the most activity is the $2,000,000-$2,499,999 range, where the sales ratio stands at an impressive 67%. This range appears to strike a balance between luxury and value, making it a sweet spot for buyers and investors alike. If you're wondering about the numbers, the median luxury sales price for attached homes in Telluride is currently at $2,400,000. This statistic gives potential buyers a solid benchmark to work with when considering their budget and preferences.
Market Dynamics and Timelines
In the fast-paced world of real estate, timing can make all the difference. In July 2023, the median days on the market for luxury attached homes in Telluride was recorded at 44 days. This is a notable decrease from the 64-day median observed in July 2022. This reduction in days on the market suggests a growing demand for properties in the region, as buyers are snatching up desirable homes more swiftly than before.
Mountain Rose Realty and Anne-Britt: Your Trusted Partners
Navigating the intricacies of the Telluride luxury real estate market requires expertise and local insight. This is where Mountain Rose Realty and their skilled realtor, Anne-Britt, come into play. With a deep understanding of the local market trends, Anne-Britt brings her passion for matching clients with their dream homes.
Whether you're a buyer searching for your mountain retreat or a seller aiming to strategically position your property, Mountain Rose Realty's commitment to excellence and Anne-Britt's personalized approach make for a winning combination.
It's essential to note that this market also underscores the value of collaboration with professionals like Mountain Rose Realty and Anne-Britt. Their expertise can guide you through the nuances of this evolving landscape, ensuring that your real estate journey is as rewarding as the awe-inspiring Telluride scenery.
Interested in making Telluride your home? Explore the exceptional homes for sale in Telluride, CO today. Mountain Rose Realty is here to make your luxury real estate dreams a reality.