News from Telluride!

Hello from Telluride!

Last week, we received San Miguel County real estate data from our source at Telluride Consulting. In April 2010, sales in the county were up by 350% in dollar volume and 23% in count of sales compared with April 2009. Year-to-date dollar volume has increased by 114% and count of sales by 45% compared with the same time period in 2009. March was also a very positive month, with sales up by 120% in dollar volume and by 39% in count compared with the same month in 2009.

The most active category was Mountain Village homes. In 2008, only 10 homes were sold, in 2009 that doubled, with 20 homes selling, and in 2010 it is remarkable that 11 homes have sold thus far with another 4 homes contracted. This is an interesting contrast to the first quarter of home sales in 2009 which were virtually zero. Many motivated buyers have obviously moved to acquire homes at the newly downward-adjusted prices. We are seeing that dollar volume and sales counts for the last quarter of 2009 and first quarter of 2010 are up significantly. April shows that we are off to an excellent start for the second quarter of 2010. There is also a substantial inventory of Mountain Village condos slated to close in the upcoming months.

In the historic Town of Telluride, there are $53 million worth of pre-sold Element 52 condominiums that will begin closing in June as the buildings are completed. The balance of these condos will close in July and August.

As always, if I can provide you with more data, or information on Telluride real estate or our area, please contact me at 970-728-1234 or buzz@fedorka.com.