Check out the condo market in Telluride, CO 81435 (July 26, 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 late July 2023?
- The median list price for Telluride, CO 81435 as of July 26, 2023, is $2,325,000. This represents a slight bounce in the market compared to earlier trends.
- Is Telluride a buyer's market or seller's market right now?
- As of July 2023, Telluride is technically a buyer's market with more supply coming onto the market relative to sales demand. However, prices have been moving higher in recent weeks, likely due to newer and larger homes being listed rather than a shift in buyer demand.
- What is the Market Action Index for Telluride and what does it mean?
- The Market Action Index for Telluride is 27, down slightly from 28 the previous month. This index compares the rate of sales versus inventory to answer 'How's the Market?' and indicates a cooling market with a slight buyer's advantage.
- How much inventory is currently available in the Telluride market?
- Current inventory in Telluride, CO 81435 has decreased to 46 active listings as of late July 2023, suggesting tighter supply conditions.
- Why are prices rising in Telluride even though it's a buyer's market?
- Prices are rising because the homes being listed are newer, larger, and higher-quality than properties on the market in the past. Price per square foot has remained essentially flat, meaning buyers are getting similar value despite higher list prices.