Telluride Luxury Market Digital Report for December 2023
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Welcome to the latest Telluride Market Summary for November 2023, your go-to resource for insights into the Telluride real estate market. Whether you're interested in single-family homes or attached properties, we've got you covered with the most up-to-date information. In this report, we delve into key statistics, trends, and expert analysis to help you make informed decisions in this dynamic market.
Single-Family Homes in Telluride
The Telluride single-family luxury market presents a unique landscape for potential buyers. In November 2023, it remains a Buyer's Market, with a 5% Sales Ratio. Homes in this segment sold for a median of 96.84% of the list price, and the most active price band was $5,500,000-$6,249,999, boasting a 25% sales ratio. The median luxury sales price for single-family homes stands at $5,675,000, with a median days-on-market of 211.
Attached Homes in Telluride
For those considering attached luxury properties, the market also leans in favor of buyers, boasting a 14% Sales Ratio in November 2023. Homes in this category sold for a median of 95.00% of the list price. Noteworthy price bands include $900,000-$999,999 and $3,000,000-$3,999,999, both with a 20% sales ratio. The median luxury sales price for attached homes is $623,000, and the median days-on-market decreased to 82 from 95 in November 2022.
Market Overview and Trends
Our comprehensive report extends beyond individual property analyses to provide an overall perspective on the North American luxury real estate market. We explore trends, comparative data, and the 13-month trend, shedding light on the changing landscape. As we approach the end of 2023, we observe a promising shift in market dynamics compared to October, with key parameters such as sold property numbers, new inventory, and sold prices showcasing noteworthy patterns.
Analyzing Key Data Parameters
Delving deeper, we scrutinize critical data parameters, including sold property numbers, new inventory, sold prices, and sold-price-to-list-price ratios. These metrics offer valuable insights into market dynamics and provide a foundation for understanding their significance in the evolving real estate landscape.
Economic and Consumer Factors
We investigate the potential impact of mortgage rate predictions for 2024 on market dynamics, emphasizing their role in either boosting the market or causing disruptions if they fluctuate rapidly. Additionally, we delve into the importance of consumer sentiment and its potential influence on market performance in the coming year.
Timing the Market
The report explores the perennial question of whether it's an opportune time to buy or if waiting for increased inventory is advisable. Recognizing the nuances of local markets and leveraging an analytical approach is crucial, emphasizing the importance of working with a knowledgeable realtor.
In conclusion, as your trusted REALTOR, my commitment is to guide you through the ever-evolving Telluride real estate market. In a time where market dynamics are shifting, it's crucial to adapt strategies to achieve your goals effectively. Let's navigate this landscape together, ensuring that your expectations are not just met but exceeded. Explore the possibilities in Telluride with Mountain Rose Realty and Anne-Britt Ostlund, your partners in luxury real estate.