2016 Second Quarter Market Update / A Roller Coaster Following 2015’s second strongest year in gross dollar volume and the most incidents of sales since 2007, gross dollar sales year to date indicate that the market is a bit volatile, yet resilient. Properties contracted in late 2015 resulted in a 36% increase in closed dollars during January and February. The DOW’s unforeseen plunge at the outset of 2016 and decline in energy prices to a dramatic low, caused investor uncertainty which
2015 End of Year Market Update / Stability Maintained Following the strongest year, both in gross dollar volume and incidents of sales during 2014, gross dollar sales in 2015 indicate that the market is holding firm. Although the statistics indicate a modest downturn from the previous year of 9% ($461.8M vs. $507.1M), sales data during 2014 included an extraordinary sale of the Madeline Hotel at $39.8M and the 2015 sale of a development lot in the TMV (transfer of LLC, no
Following the strongest year, both in gross dollar volume and incidents of sales during 2014, the first three quarters of 2015 indicate that the market is holding firm. Although the statistics indicate a slight downturn from the previous year of 7.5% ($355M vs. $383.9M), sales data during 2014 included an extraordinary sale of the Madeline Hotel at $39.8M. Excluding this transaction, the market in 2015 is on par with the prior year. According to the MLS, approximately $125.2M of sales
Total sales for the first quarter is on par, in both dollars and numbers, with the first quarter of 2014, the latter registering the highest gross dollar sales since 2007. The modest downturn of Historic Town of Telluride sales is largely the result of a lack of quality inventory, which was seriously depleted during 2014. The increase in gross dollar sales of Mountain Village condominiums and homes in the first quarter of this year helped maintain overall market stability as
Friends of Telluride ~ Telluride continues to lead mountain destinations out of the recession, setting records for skier visits, tax revenues and air service over the past year, and looking to do it again this winter. For 2014, Telluride is pacing to finish up 12% in sales tax revenues, a new high, the ski resort reported a record number of skier visits,and the air organization, with 20% growth, put back on the books the largest number of seats it has brought
With 2013 year-end sales holding steady verses 2012, the first quarter of 2014 registered the largest dollar volume of closings in six years. The months of January, February and March demonstrated increases over those same months of 2013 by 116%, 25% and 45%, respectively. Total combined first quarter sales outpaced 2013 by 47% ($94.2M vs. $63.9M). As we enter the summer season, a robust first quarter bodes well for the entire year, as the summer marketplace has out-performed winter sales
'09-'13 CAGR Graph After a record setting December of 2012 ($76,000,000 in gross sales), probably the result of investors desire to close by year end due to potential tax code changes, the Telluride marketplace “played catch up” for most of 2013. Very strong months of May, August and September where sales outpaced the prior year by 49% led to a bullish December with $65.6M in transactions, but short of matching the prior December. A reduction of 6% ($342.2M vs. $364.7M) in
3rd Quarter Market Update / Catches Up to 2012
After a record setting December of 2012 ($76,000,000 in gross sales), probably the result of investors desire to close by year end, the Telluride marketplace “played catch up” throughout the winter, spring and early summer of 2013. Uncertainty related to potential tax code changes in 2013, incentivized both buyers and sellers to culminate transactions in December of 2012 that might otherwise have occurred in 2013. A very strong 3rd quarter that was
Telluride Market Update Greetings from Telluride ~ We have had an excellent winter in Telluride with over 17 feet of snow and an uptick in both retail sales and skier days. The Historic Town of Telluride reports that retail sales year end 2011 were the highest in 20 years. After rather lackluster real estate sales in the month of January, it appears as though transactions for February and March are tracking attained numbers for those same months of 2011. $18.9M of sales closed
Year end gross dollar sales in the Telluride Region during 2010 performed 20% above 2009. Sales of $317.6M paced at 92.5% of 2008 which was the partial year of sales production not negatively influenced by the current recession. Numbers of transactions increased 18% and the average price per incident remained stable indicating a stabilizing in value across all market categories. According to statistics compiled by Telluride Consulting, a total of 103 sales transpired in the Town of Telluride representing total gross
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