Telluride Real Estate Blog

Cap Lifted on Short-Term Rental Licenses in Telluride

Cap Lifted on Short-Term Rental Licenses

The cap on short-term rental licenses within the Town of Telluride expired on November 2, 2023. New short-term rental business license applications are now being processed. Any new licenses received over the next two months will still be processed under the existing licensing and fee structure, and will expire on December 31, 2023.

Telluride Town Council Passes New Short-Term Rental Policy

The Town of Telluride will implement new short-term rental licensing software in 2024 with new licensing categories, fee structure, and compliance requirements. 2024 renewals will be available as soon as possible in 2024, but not prior to January 1, 2024.

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Getting to Know Lee Shea Betten: A Candidate for Telluride's Town Council

As the campaign season for Telluride's Town Council draws to a close, it's essential to take the time to get to know the candidates beyond their formal events. In the latest episode of my podcast series, Telluride Uncovered, we delve into the fascinating journey of Lee Shea Betton, a reformed New Yorker turned Telluride local, who transitioned from the advertising industry to lodging to real estate, ultimately becoming an active voice in local politics. Betton’s unique perspective illuminates the often misunderstood role of real estate agents in shaping our community, and offers a compelling argument for the importance of diverse representation in local politics.

Lee Shea's Telluride story begins 10 years ago in the bustling lanes of New York…

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Fall Update from Telluride: 2023

It's the most beautiful time of year in Telluride! The aspens are golden, the peaks are white, and I'm still amazed to call this magical place home.

With Winter approaching, I wanted to check in and give you a quick Telluride Update. As always, if you have plans to be in Telluride this winter, please reach out; I'd love to see you. Please consider me your local resource - I love advising where to ski, activities for kids, places to eat, etc. 

Ski Season

Check out the new winter teaser video just released by Telski and start getting amped for ski season! 

The Mountain tentatively opens on November 23rd. Passes and tickets are on sale now! Get yours at the link below:

Get Ski Passes & Lift Tickets

Winter Flight…

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Telluride Real Estate Activity Report: Q3 2023

Since establishing the ski resort 50 years ago, Telluride's real estate market has experienced a consistent and well-regulated growth pattern marked by occasional fluctuations. With the exception of the Great Recession, the market has demonstrated remarkable resilience. During its pandemic era, the interplay between constrained supply and a swiftly expanding demand precipitated an impressive nearly 100% appreciation in property values within the most coveted sections of Telluride and Mountain Village.

As we step into 2023, we're observing a transition to a more balanced market. However, it is noteworthy that average sale prices have maintained their upward trajectory relative to 2022, boasting a 13% escalation in Telluride and…

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Telluride Real Estate Activity Report: Q2 2023

As we cruise past the halfway mark of 2023, speculation on where the market is headed is rife with opinions all along the spectrum. While some have been patiently waiting on the sidelines for the bottom to drop out, it just hasn’t happened. At $419.7M, YTD San Miguel County dollar volume may be down over the record-breaking years of 2021 & 2202, but it's almost 60% up over 2020. The dollar volume of sales also increased 50% from the first quarter of 2023 to the second quarter, largely attributed to robust sales in Mountain Village.

Buyers may be gaining a foothold in the market, especially when it comes to inventory that has seen longer days on market with over-ambitious pricing. However, values are holding their own. Look at the chart of average sales…

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Telluride 2023 Spring Update

While everyone is still coming down from the high of the most epic winter EVER, it's finally starting to feel like Spring in Telluride! With our snowpack peaking at 200% of normal and warmer temps on the way, lots of water adventures and wildflower hikes are sure to be enjoyed soon. With summer in mind, I wanted to reach out and give you a quick update on a few important things (see below). Let me know if you plan to be in Telluride this summer. I'd love to see you!

It's Almost Festival Season

MOUNTAINFILM
May 25 - 29 / get tickets
Speakers include Bill McKibben, Teal Lehto, Cheryl Strayed, & Tom Shadyac, discussing topics from climate change and water to disturbance and artificial intelligence.

TELLURIDE BLUEGRASS FESTIVAL
June 15 -…

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Telluride Real Estate Activity Report: Q1 2023

It’s fair to say that as 2022 came to a close, the Telluride Real Estate Market was grappling to re-establish its value position in the post-covid-boom world. Interest rates, inflation, and political unrest had everyone on edge regarding what was in store for 2023.

Well, here we are, already through the first quarter of 2023. At first glance, the percentage decrease in the number of transactions and dollar volume YTD may seem significant. Yet, as the market normalizes, comparing it to the highs of the boom is an unfair assessment. To put things into perspective, San Miguel County’s dollar volume for the first quarter of 2023 was the third-highest on record.

Mountain Village sales accounted for 57% of the dollar volume in the first quarter. The…

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Telluride Real Estate Activity Report: Q4 2022

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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Affordable Housing on Diamond Ridge Dies in Court

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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Telluride Holiday Happenings

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

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