The dust has settled on 2021 and it’s another one for the history books! San Miguel County’s real estate sales exceeded 2020’s dollar volume of $1.1b with a new record of $1.4b. That’s exciting news, yet most likely a peak for now. Buyer demand is still very strong; however, current owners aren’t anxious to give up their Telluride retreats without good reason.

Mountain Village continued to lead the market as the number of sales in Town decreased by 25% due to limited offerings. Vacant land sales were bolstered greatly by the lack of inventory in home and condo segments, with sales volume increasing by as much as 99% in certain areas of the county. The upper-end of the market also saw more action in 2021, with 65 sales over $5m versus 48 in 2020. Of those 65 sales, 11 were over $10m, including 115 Francisco Way in Aldasoro Ranch (Tom Cruise) at $39.5m, 398 W. Colorado Ave. in Town (Main Street Penthouse w/ Commercial) at $28m and 184 Butch Cassidy Drive in Mountain Village (Oprah) at $17m.

Interestingly, even though our demand has grown exponentially, our sales volume and property values still play second fiddle to Aspen ($4b), Vail ($3.3b) and Jackson Hole ($3b). Our inventory is far more limited than these “towns”, which makes for a smaller, more authentic community. This will prove to be why Telluride continues to be a desirable place to live and is primed for continued appreciation.

Telluride Properties celebrated 35 years in business during 2021, and it was our most successful and challenging year yet. From navigating bidding wars and walking a knife’s edge to keep deals together, we are thankful for our client’s trust in us as their real estate advisors. As for our community, we are eternally grateful for all of the love and support we’ve been shown, personally and professionally. It truly does “take a village”, and ours is THE BEST.

Read on for the full report, and contact me anytime to discuss current market conditions as they pertain to your goals.

Hope to see you in Telluride soon!

- Anna Wilson

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