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Real Estate Market update for October ’23, Telluride area…..

October proved to be a relatively slow month for home sales in Mountain Village, with just one sale and another property entering into a contract. Similar to other segments in Mountain Village, this sector experienced a decrease in both Units Sold and Total Dollar Volume compared to the same period last year. Despite reaching a peak of 23 homes during early summer, the Available Inventory has gradually decreased, resting at 20 homes by the end of October. Notably, half of the current 20 homes for sale have asking prices of $10 million or higher.

In contrast, the Mountain Village condo segment continues to stand out as one of the region’s strongest performers, particularly considering the diminishing Available Inventory. With an additional six sales in October, this segment now lags behind the previous year’s performance by only 10% in Total Dollar Volume and 12% in the Number of Sales through October. Despite surging to 29 units in early summer 2022, the Available Inventory has dwindled to a 16-month low, with only 17 condos currently on the market.