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MARKET ANYLSIS
Summer 2010 UPDATE -TELLURIDE FORECLOSURES and BANK OWNED parcels

Mountain Village

Condominiums -The average price (per square foot) for condominiums in Mountain Village has increased from around 340$ in 1998 to over 800$ in the winter of 2009. THERE IS A HUGE OVER SUPPLY OF CONDOS IN THIS SEGMNET. There are multiple bank owned units and values are now hovering at $650 in the Village core, and under $400 in the outer areas.

Residential Lots - The average price for a lot in Mountain Village in 1998 was approximately $375,000. THERE ARE MULTIPLE REO'S IN THIS SEGMENT ALSO, A HUGE OVERSUPPLY. A lot can be had for as low as $300,000 near the ski slope.

Homes - The average price for homes in M.V. in 2003 was around $2,800,000 with the highest price sale of $7,200,000. This exceeded $1,000 per square foot for a furnished home. The average price per square foot in 2009 has come back down due to the distressed homes to around $570 per foot. THERE ARE HOMES FOR AS LOW AS 1.2m CURRENTLY. .

Telluride

Condominiums - The Condo Market in town has absolutely come back down TO 2003 PRICES… Prices for an in town condo with average views and medium finishes with a late 80’s motif have been priced at above $520 a foot. While newly built units achieve price levels in the range of $500 to $1,000 per square foot. Single bedroom units with less than 600 square feet are now going for almost 250,000(over 350k in 2008). The cheapest 2 bedroom unit as of January 1st 2010 was at 410,000! REO's and distressed sales have helped lower the values, one bedrooms can be had for as low as 250k, and 2bedrooms near the gondola can be as low as $400,000.

Residential Lots - The average land cost of a standard lot (2,500 feet) is now back around $825,000n. Some lots that less desirable are still in the 450,000 range. .

Homes - Single family residences in the winter of 2009 were sold at an average cost per square foot (including land values) of over $550. The lowest asking price for a single family dwelling in the town is priced at over 699,000. That is about 570$ a square foot for a 2 bedroom 1,100 square foot house.Recent high sales have been around the $1,000 per square foot price. To help fuel this market is the “TEAR-DOWN” philosophy where you buy the house for the land value and re-build.

Telluride Region

Regional Vacant Land – This segment is the slowest of all segmentS. There are many distressed parcels now listed. Sales of 35 to 40 acre parcels in the past five years have increased from an average of $8,375 per acre in 1998 to over $150,000 per acre in early 2008 and now are back around $9,000 an acre. Proximity to the Telluride valley is the driving force behind the pricing. The key to this market is a drive time of under 30 minutes from the mesa views to downtown.

Regional Condominiums .

The statistics used are provided by the Kiernan report. The most recent data was gathered from sales and information in the Telluride MLS.
All information provided shall be deemed reliable but not guaranteed.