The year 2022 has retreated into our rear-view mirror. The short-term message relative to the Telluride Real Estate Market in early 2023 indicates that mortgage rates may have eased off from their meteoric rise and the buying frenzy of the past two years has subsided.

A snapshot of year-end market data indicates a slowdown in the market evidenced by a retreat in dollar sales volume down 22% (2022 vs. 2021) and the number of transactions down 38%. Segregating the year-to-date (December) data from 2021 to 2022 within our larger regional markets (Telluride, Mountain Village, and the remainder of San Miguel County) reveals declines of 29%, 15%, and 25% respectively.

An optimistic data point reveals that total property sales of $5mm and above…

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On December 21, 2022, the San Miguel County District Court reversed the May 2022 decision by the Board of County Commissioners (BOCC) to rezone a 39-acre portion of the Diamond Ridge property to the newly created high-density Community Housing (CH) zone. This reverts the property to its original low-density Forestry-Agricuture (F) zone.

This means that the proposed "The Ridge" affordable housing development on Deep Creek Mesa, planning to consist of 150-780 units on 39 acres, will no longer be possible under the F zoning that allows for 1 dwelling per 35 acres.

The court deemed the rezoning to be unlawful for two reasons:

  1. San Miguel County Commissioner Hilary Cooper was found to be biased due to extensive ex parte communications over the…

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The famous ski tree has been lit, marking the official start of the holiday season here in Telluride. It's great to be skiing again and there are some exciting events and adventures on deck for the winter - see details below. I hope to see you in the coming weeks, please reach out so that we can take some runs together or meet up for dinner. If you have any questions in anticipation of your visit, I'm happy to help!

HOLIDAY HAPPENINGS

ALPENGLOW IMMERSIVE ART
NEW! An interactive, multi-media art installation that evokes the wonder of the mountains. Happening daily at 5pm at Reflection Plaza.
more info
MURDER MYSTERY NIGHT
Get thrown into a night of mystery, intrigue, and murder you will…

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The Gondola closed for the summer season at midnight on Sunday, October 16th, marking the unofficial start of Telluride's fleeting fall "off-season." Many local business owners use this quieter time as an opportunity to deep clean their spaces, restock, travel, or simply take some well-deserved time off in order to regroup before the upcoming ski season. 

However, not all businesses close for the entire shoulder season (or at all). Below is a list of restaurants that remain open, organized by meal:
Breakfast & Coffee:
Cindy Bread (Lawson Hill): Open M-F 7AM-12:30PM Silver Pick Coffee (Mountain Village): Open 7AM-3PM daily Telluride Coffee Company (Mountain Village): Open M-F 8AM-2PM The Pick (Mountain Village):…

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Telluride has really been showing off as of late! Recent snowfall in the high country has created a dramatic backdrop for the radiant golden waves of Aspen trees. As the days grow colder, I'm reminded that ski season kicks off in less than 2 months. With that in mind, here's an update on what's been going on and some info to help you plan your winter trip to Telluride. I love giving recommendations on where to stay, eat, and play, so please reach out with any questions you may have. I hope to see you soon!
 
 
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GET EXCITED FOR SKI SEASON!

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As the summer selling season comes to a close, we are seeing the dollar volume of sales down only 9% from last year, however, the number of transactions is down 31% in San Miguel County. Not to much surprise, average sales prices in the county have increased 31% YTD over the record-setting 2021. Overall, the dollar volume for the Telluride and Mountain Village markets are down YTD 11% and 7% respectively, yet average sales prices are up 12% and 38%. In general, the Telluride area market now seems to have reached a plateau.

Even as buyer demand has moderated, inventories still have not increased much as most people are very happy with their ownership and are not looking to sell. Limited affordability (exclusivity), low inventory, and moderate demand are…

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Ask anyone for their favorite real estate app, and what do you think they’ll say? Zillow, probably. And I can’t blame them - it’s user-friendly, it works all over the country, so no matter where you’re traveling, you can hop on Zillow to find homes for sale near you.

And I’m sure know about the most common issues with Zillow, like Zestimates being way off, etc etc. But did you know that if you're a serious home buyer, there's over a 30% chance that you'll miss out on your dream home if you use Zillow for your Telluride property search?

Watch the video below to find out why! 

 

 

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   The below information was provided by Mountain Village Mayor, Laila Benitez and Town Manager, Paul Wisor, including a detailed update on the Town's current affordable housing projects: Mayor's Minute

Dear Mountain Village Community Members:

At Town Hall, we are looking back fondly at a wonderful summer season and hoping your summer was as enjoyable and eventful as our own.  The Mountain Village Town Council and staff are now diligently working on the 2023 budget.  This process helps ensure Mountain Village, in collaboration with its local partners, continues to provide a world-class experience to its residents, second homeowners, and guests.

While the budget represents a myriad of priorities, it is clear that affordable housing…

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The Telluride/Montrose (TEX/MTJ) 2022-2023 Winter Non-Stop Flight Schedule has been released, and it just keeps getting easier to get to Telluride! 

The new schedule includes daily direct flights from Atlanta, Chicago, Houston, Dallas, Denver and Phoenix, as well as weekly direct flights from San Francisco, New York, Los Angeles and Austin:

 
 


Schedules vary and change frequently, and continue to be modified monthly as airlines work through the pandemic and recovery.

Please check the individual airline sites for the latest schedules and timetables.

Please refer to current COVID levels and travel recommendations prior to planning. 

 

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Telluride property owners without a Short Term Rental (STR) license can now apply for a chance to get one! 


In November 2021, Telluride residents voted to cap STRs at their current number, which had conflicting reports at the time, but we now know the exact number was 758. (To get caught up in the saga of Ballot Measure 2D vs. the Citizen's Initiative 300, check out my blog posts and videos on the topic!)  There are certain exceptions that are allowed outside of that number, like primary residences with licenses to AirBnb the property when the owners are out of town, and one-time exceptions when a property sells, in order to allow the license to transfer to the buyer.*

Additionally,  any STR licenses that are surrendered (if a property sells…

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