What is the median list price for condos in Telluride, CO as of July 2023?

The median list price for Telluride, CO 81435 as of mid-July 2023 is $1,975,000. This represents a continued bounce in the market from previous weeks.

Is Telluride a buyer's market or seller's market right now?

As of July 2023, Telluride is technically a slight buyer's market, with inventory increasing to 49 units and the market action index at 28—meaning more supply is coming onto the market relative to sales demand. However, prices have been moving higher in recent weeks, which may reflect the improved quality and larger size of homes being listed.

Why are Telluride home prices rising if it's a buyer's market?

The price increases appear to be driven by improved quality rather than market pressure—newer and larger homes are coming onto the market compared to the past, so while price per square foot remains flat, the overall median price rises because buyers are purchasing higher-caliber properties.

How has the Telluride market action changed from June to July 2023?

The market action index has declined slightly from 29 in June to 28 in July, indicating cooling demand relative to supply, though inventory has increased to 49 units during this period.

Check out the Condo market in Telluride, CO 81435 (July 13, 2023)

By Anne-Britt OstlundJuly 12, 20232 min read

Real Estate Market Updates

Check out the market in Telluride, CO 81435

This week the median list price for Telluride, CO 81435 is $1,975,000 with the market action index hovering around 28. This is less than last month's market action index of 29. Inventory has increased to 49.

Telluride Real Estate: Market Action Index

This answers “How’s the Market?” by comparing the rate of sales versus inventory.

Check out the Condo market in Telluride, CO 81435 (July 13, 2023) — photo 1

Slight Buyer's Advantage

In terms of supply and demand, the Telluride market is getting cooler - more supply is coming on the market relative to the sales demand. However, in recent weeks prices have been moving higher. Since it is technically a Buyer's market, this price trend may be a result of improved quality (newer, larger homes) of the homes being listed. Look at the descriptive statistics where you may notice the homes being listed are larger and younger than they have been in the past.

Telluride Real Estate: Median List Price

Check out the Condo market in Telluride, CO 81435 (July 13, 2023) — photo 2

The Telluride market for this zip code continues its bounce again this week. We're a long way from the market's high point so watch the Market Action Index to predict how long this trend will last.

Telluride Real Estate: Average Days on Market (DOM)

Check out the Condo market in Telluride, CO 81435 (July 13, 2023) — photo 3

Telluride Real Estate: Median Days on Market

Check out the Condo market in Telluride, CO 81435 (July 13, 2023) — photo 4

Telluride Real Estate: Price Per Square Foot

Check out the Condo market in Telluride, CO 81435 (July 13, 2023) — photo 5

In a Telluride market where prices are rising fairly consistently, price per square foot is essentially flat. This often implies that new homes coming on the Telluride market are pricier, and also larger than older homes. As a result the value one can buy stays the same.

Telluride Real Estate: Properties with Price Decrease

Check out the Condo market in Telluride, CO 81435 (July 13, 2023) — photo 6

Telluride Real Estate: Properties with Price Increase

Check out the Condo market in Telluride, CO 81435 (July 13, 2023) — photo 7

Telluride Real Estate: Relisted

Check out the Condo market in Telluride, CO 81435 (July 13, 2023) — photo 8

Telluride Real Estate: Inventory

Check out the Condo market in Telluride, CO 81435 (July 13, 2023) — photo 9

Telluride Real Estate: Market Action Index

Check out the Condo market in Telluride, CO 81435 (July 13, 2023) — photo 10

Telluride Real Estate: Market Segments

Each segment below represents approximately 25% of the market ordered by price.

Check out the Condo market in Telluride, CO 81435 (July 13, 2023) — photo 11

Bottomline

Are you looking to invest in Telluride this July 2023? Be sure to check with Anne-Britt of Mountain Rose Realty. With her expertise and knowledge about the local market, she can help you find the perfect property for your needs - whether it’s a vacation home or an investment that will increase in value long term! Don't wait any longer; contact Anne-Britt today and get started on finding your dream home in beautiful Telluride, Colorado!

Frequently Asked Questions

What is the median list price for condos in Telluride, CO as of July 2023?: The median list price for Telluride, CO 81435 as of mid-July 2023 is $1,975,000. This represents a continued bounce in the market from previous weeks.
Is Telluride a buyer's market or seller's market right now?: As of July 2023, Telluride is technically a slight buyer's market, with inventory increasing to 49 units and the market action index at 28—meaning more supply is coming onto the market relative to sales demand. However, prices have been moving higher in recent weeks, which may reflect the improved quality and larger size of homes being listed.
Why are Telluride home prices rising if it's a buyer's market?: The price increases appear to be driven by improved quality rather than market pressure—newer and larger homes are coming onto the market compared to the past, so while price per square foot remains flat, the overall median price rises because buyers are purchasing higher-caliber properties.
How has the Telluride market action changed from June to July 2023?: The market action index has declined slightly from 29 in June to 28 in July, indicating cooling demand relative to supply, though inventory has increased to 49 units during this period.