Check out the condo market in Telluride, CO 81435 (July 19, 2023)
Check out the market in Telluride, CO 81435
This week the median list price for Telluride, CO 81435 is $2,325,000 with the market action index hovering around 27. This is less than last month's market action index of 28. Inventory has decreased to 46.
Telluride Real Estate: Market Action Index
This answers “How’s the Market?” by comparing the rate of sales versus inventory.
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
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)
Telluride Real Estate: Median Days on Market
Telluride Real Estate: Price Per Square Foot
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
Telluride Real Estate: Properties with Price Increase
Telluride Real Estate: Relisted
Telluride Real Estate: Inventory
Telluride Real Estate: Market Action Index
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: Market Segments
Each segment below represents approximately 25% of the market ordered by price.
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!
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Frequently Asked Questions
- What is the median list price for condos in Telluride, CO 81435 as of July 2023?
- As of July 19, 2023, the median list price for Telluride, CO 81435 is $2,325,000. This represents a slight bounce in the market compared to recent weeks.
- Is it a buyer's or seller's market in Telluride right now?
- As of mid-July 2023, Telluride is technically a buyer's market, with the market action index at 27 and inventory at 46 units. However, prices have been moving higher recently, likely due to newer and larger homes coming onto the market.
- Why are prices rising in Telluride while it's a buyer's market?
- The price increases appear to be driven by improved quality of homes being listed—newer and larger properties are coming on the market—rather than increased demand. Price per square foot has remained essentially flat, meaning buyers are getting similar value despite higher overall prices.
- What was Telluride's market action index in June 2023 compared to July?
- The market action index decreased from 28 in June 2023 to 27 in July 2023, indicating a slightly cooling market with more supply relative to sales demand.