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Market Update

Telluride 3rd Quarter Market Update:
Transfer Arthouse North

Transfer Telluride

The Telluride Real Estate market continues to exceed last year with dollar volume up 39% year to date, although at a slower pace now than in the first two quarters. The tide has turned to Mountain Village with the homes and condos dollar volume 50% higher than the Town of Telluride dollar volume year to date. This was inevitable as values in MV became more attractive than Town due to Town’s shrinking inventories and rising prices.

The region enjoyed its busiest summer yet for tourism and bookings for the Winter season are pacing ahead of last year. Real estate values are still less than most other premiere ski resorts such as Vail, Aspen, Jackson Hole and Lake Tahoe. Please feel free to contact us for more detailed statistics.
Cimarron Mountain Club:

Imagine a private cat ski resort with more terrain than Aspen Mountain that will be shared by just 15 Members and their family and friends. It does exist – between Telluride and Crested Butte – and Telluride Properties is excited to share with you Cimarron Mountain Club. Please click here to view the website, feature film, photo gallery, ski territories, and a detailed FAQ.

Five of the fifteen Members are committed and if you are intrigued by what you see, we would love to talk with you soon. Please email us and we will set up a call.

Telluride Fall Events Schedule:



FESTIVAL OF CARS & COLORS: September 21 – 24


Telluride Winter Flights Schedule:

Thank you for reading, and we hope to see you soon!

-The O’Neill Stetina Group

Telluride 1st Quarter Market Update:

The first quarter of 2017 is off to a roaring start with the total dollar volume up 46% over 2016, our best first quarter since 2007. In fact, the average transaction dollar amount increased 22% over last year as buyers feel stronger about our market and inventories have decreased causing some gentle appreciation particularly in the Town of Telluride home market where prices have approached pre-Recession values. Contributing to this run appears to be the improved air service to Telluride, the second best snowfall recorded, post election clarity and the sophisticated new product being brought to the market.

There are presently under contract 45 properties priced over $1m with 24 of those priced over $2m and 14 priced over $3m. Of particular note are the 6 homes under construction/spec projects in Town that are pending for $2-6m, three of which are over $5m. While this activity is exciting, there are still many attractive properties priced well, particularly in Mountain Village where there are tremendous opportunities on beautiful properties still below pre-Recession pricing. Sage buyers continue to find excellent opportunities to begin the Telluride lifestyle in Town, MV and outlying areas where values abound especially when compared to similar ski town markets.

Below are links to the rather unique Bear Creek Reserve custom home project, which we sold out prior to completion at over $5m each, and Transfer Telluride, which promises to be the new coveted Telluride address as Meriwether Development, CCY Architects from Aspen and Finbro Construction combine to create a peerless product in Telluride. These projects along with other custom homes in the area have started Telluride on a new, elevated design path that promises to invigorate buyers in our market. Telluride will always be Telluride, but it is likely we will see our funky become a little more funky cosmopolitan.

Please feel free to contact us to discuss the market in more detail or to discover what great opportunities exist. 


Telluride Summer Events Schedule:

MOUNTAIN FILM: May 26 – 29


FESTIVAL OF CARS & COLORS: September 21 – 24



Telluride Summer Flights Schedule:

Telluride Daily Planet Real Estate Article:

“The Telluride-area residential real estate market has been slowly rebounding since the Great Recession of 2008-2010, as proven by comparing 2016 data against figures from 2007, generally considered the market’s best year.
The information comes from Brian F. O’Neill, director of Telluride Properties, who recently prepared an update on area real estate trends for his clients and shared the information with The Daily Planet in an interview last week.
“When comparing 2016 to 2007 (our finest year),” O’Neill wrote his client report, “it is interesting to note that sales of homes and condos in both towns tell interesting stories, while the overall market data for those years exhibit the new normal.”

Read the full article here: Telluride Market nearly back to pre-recession levels.

Thank you for reading, and we hope to see you soon!

-The O’Neill Stetina Group



Year End: 2016 Telluride Real Estate Market Update:

The total dollar volume of sales in 2016 essentially equaled 2015 in large part due to a nice surge this Fall, particularly Town condos, Mountain Village condos and MV homes. In fact, both MV segments did half of their annual dollar volume in the Fall, and the MV condos segment was the overall dollar volume winner this year signaling a nice show of strength in the MV, partially due in response to depleted inventory in Town.

When comparing 2016 to 2007 (our finest year) it is interesting to note that sales of homes and condos in both towns tell interesting stories, while the overall market data for those years exhibit the new normal:

  • Town of Telluride Condos: In 2016 there were $71m in sales via 78 transactions for an average sale price of $910,000 versus $58.5m/67/$874,000 in 2007.
  • Mountain Village condos: $103.5m/95/$1.09m v. $120m/81/$1.48m.
  • Town of Telluride Homes: $60.2m/27/$2.23m v. $67.7m/32/$2.12m
  • Mountain Village Homes: $69.2m/20/$3.46m v. $144.7m/40/$3.6m
  • In 2016 4 condos and 2 homes sold for over $1,200/sf and in 2007 there were 3 condos and 2 homes that sold for over $1,200/sf.
  • In 2007 there were 631 transactions totalling $756.6m and in 2016 there were 562 transactions totalling $452.8m. The dollar volume in 2007 was the greatest ever and 855 transactions in 2005 was the largest number.

MV condos’ lower dollar volume and average price are due to the slow comeback to pre-Recession values thanks to the large inventory which, in turn, has resulted in tremendous purchasing opportunities. MV home sales have remained slow in part due to a lack of newer inventory and the opportunities in condos. Overall, the number of annual transactions and buyers in the market has dropped significantly from the mid 2000’s. The dollar volume has dropped $300m from 2007 in large part due to a change in the buyer demographic where people are more interested in being in Town versus out on the mesas. We have not seen the sale of large ranch properties as we have in the past. This is similar to buyers moving from the suburbs into the city. We have begun to see a shift to MV, specifically condos, where buyers can get more for their money than in town where there is an inventory shortage. Finally, there has been tremendous interest and sales in full service properties such as Auberge Resorts’ Element 52 and The Madeline. The Madeline had 27 sales and Element 52 had 7 in 2016 in large part due to the value, rental incomes, central location and full services. Again, a similar sign of the demographic where buyers are interested in convenience over privacy.

Comparable Markets:

Jackson Hole is off 8% for the year but in large part due to a shortage of inventory thanks to a few strong years. Vail closed the year slightly ahead of 2015 with a strong Fall as well bolstering their year.

Aspen had a much worse year where Tim Estin, local realtor, had the below to say in an Aspen Times article in August 2016:

“Aspen real estate: Was 2015 that good or is 2016 that bad?”, suggested that it was misguided to compare 2016 to a record year like 2015. This chart, and many other Estin Report Monthly Snapshots posted during 2016, demonstrate that thinking wrong. 2016 was a very bad Aspen real estate year, especially the 1st Half, the worst since 2010. Most notably, Aspen single family home sales for the year were off 50-60% and sales of properties over $10M were down a stunning 65%. Everyone including me,  blamed the election and the attendant uncertainty. Few suggested the lack of sales may have been due to speculative and unrealistic pricing turning buyers off and away. As we head into 2017, we shall see.  Since the election, sales activity has been picking up.”

Aspen appears to have suffered a similar fate as other luxury markets such as the HamptonsNew York and Miami where there was a tremendous sales spike and prices escalated too quickly causing a correction. Fortunately, Telluride has maintained a more controlled growth rate that appears sustainable into the future, in part due to the tremendous community unlike any other mountain town whereby buyers are buying for enjoyment versus investment because they consider Telluride their home now and/or in the future.

Telluride in the news:

Vogue: Hidden Gems of Telluride

Read Here

Forbes: World’s Best Ski Resorts 
Read Here

Telluride Ski Resort Master Plan: 

Read Here

5 Things Aspen Can Learn From Telluride
Read Here

Beck to Headline Ride Festival 2017
Read Here

Thank you for reading, and we hope to see you soon!

-The O’Neill Stetina Group

Market Update Q3 2016:

Summary: As some global uncertainties (Election, Brexit, etc.) that have plagued the luxury market seemingly gain some clarity, pent up demand has begun to bubble over. This trend has become evident in the month of September, as an increase in activity indicates that we are now progressing out of the bottom of the market associated with the election lull. By comparison, September 2016 has been more than twice as productive as September 2012; the same period in the last election cycle, when election results were still murky. The market is off last year by 12% Year To Date but it is being revived as buyers look to secure a place in the area before the holidays. Now is the time to get serious for buyers who have been waiting to time the market.


Town of Telluride:

Town of Telluride Single Family Homes has been the hottest segment in the market, specifically the East End of Town. Total sold volume in this segment is up 57% Year to Date over 2015. The condo market has not seen the same growth, with $36m trading since the first of the year, about 33% below 2015’s pace, due to a lack of inventory.


Town of Mountain Village:

Mountain Village overall has been consistent, with a 3% increase in Sold Volume for Single Family Homes in 2016 year to date; still significantly below totals posted in 2014. The market for large homes in The Village remained relatively stagnant through the summer, with only 12 transactions in the last 6 months over $3m; easily the weakest segment of the market but very recent contracting of homes promises a strong year. Mountain Village condos have remained the bright spot in the Village market, with 46 units trading in 2016, on pace with last year’s 49 units year to-date.


Supplemental Market Research:

Our team at O’Neill Stetina Group is constantly perusing market statistics, searching for trends in our own market as well as comparable markets abroad. View these links leading to a few resources that we have been especially tuned-in to of late:

Aspen Market Report

Vail Market Report

Jackson Hole Market Report


Telluride News:

Telluride Regional Airport is pleased to announce that commercial flights will be returning to Telluride on December 17th. Click on the map for more information, and for the Winter Flight Schedule.Telluride Flight Schedule


Pervious Market Updates:

2015 Summary:

San Miguel County: Comparing 2015 to the previous year, the market saw a 6% increase in transactions but a decrease of 9% in total dollar volume. Since the apex of the Telluride market in 2007, 2015 was the second highest year for total dollar volume; only 2014 saw higher total dollar volume. In addition, 2015 saw the highest transaction total in the last 8 years. Total dollar volume for 2015 ended at $461.8M, down slightly from 2014’s $479,956,304M. However, 2015 saw 600 transactions, an increase from 586 in 2014. This rate has been steadily growing over the last 5 years.

Overall, 2015 was a great year where the market showed consistency from 2014 and closings in January of 2016 were ahead of 2015, representing a strong fourth quarter of sales. The market still has some tremendous value plays especially when you consider similar ski resort markets. More importantly, buyers continue to focus on the value of the enjoyment investment that Telluride represents with its wonderful and warm community. As new CEO and partner of the ski resort Bill Jensen settles in, the future has never been brighter in Telluride.

Catch up on Bill Jensen’s plans below:

For more detailed information, including comprehensive 5-year market graphs and segment-specific statistics, please give us a call at (970)708-5367, or shoot us an email at, or


Thank you for reading!



Telluride Market Update- O’Neill Stetina

The Telluride real estate market continues to show    increased strength as the volume of sales improves 8% over last year when you exclude last years sale of the Hotel Madeline. Lodging and sales taxes have had record years thus far as the region proved popular with skiers and summer visitors. Much of this is attributed to the strength of the economy, but also the improved access with constantly upgraded air service into Montrose and other regional airports.
Real estate market indicators were positive with YTD highlights as follows:

  • Inventories in general are down 16.7%, with homes in Town becoming scarce and condos in Town somewhat limited.
  • Market-wide percentage of list price received has increased from 90% to 93% over last year.
  • Condo sales in general increased 17% over last year; Town at 14% and MV at 12%.
  • Median sale price of condos increased 7.7%.
  • Market-wide median sale price increased 4.5%.
  • Median sales price for MV homes jumped 44%, percent of list price received increased 5% and days on market decreased 18%, as MV homes show signs of a comeback.
  • Median sales price for MV condos jumped 43%.
  • Condo sales in Town were the most active market segment with 71 sales and MV condo sales second with 39 sales.

To read the entire Real Estate Market Update in interactive PDF form, follow the link below:

Telluride Real Estate Market Update



SPRING 2015:

The Telluride Real Estate Market has continued its strong year through May with the largest number of sales and dollar volume in 6 years. Condos in the Town of Telluride are the market leaders for number of sales and dollar volume, but Mountain Village homes are seeing a resurgence as buyers take advantage of decent value plays. Pending transactions heavily favor the Town of Telluride market over the Mountain Village market with homes, condos and land all performing well. While sales volume and pricing continue to rise in Telluride, markets in Vail, Aspen and Jackson Hole have seen volume decreases with price increases due to a lack of inventory.

The O’Neill Stetina Group has had a banner year with almost $40m in transactions thus far in 2015, more than any other group in all of 2014.

Please feel free to contact me for more details on the market.


Headwater Ranch

Open for tours on June 30th, 11am – 4pm. Please come by for a tour.
Click Here for Additional Information.


Element 52 Auberge Residences

4 developer units averaging $2.7m were sold this Winter. There are still excellent opportunities here, particularly the larger units which live like a private home.
Click Here for Additional Information.


Hotel Ajax Renderings

With shrinking inventories in the Town of Telluride, developers are preparing to break ground on a few projects that promise to create a significant buzz.

Kentucky Placer is a development of 3 five bedroom homes at the base of the Bear Creek Trail in Town. These Eric Cummings designed homes will feature a mountain modern design with tremendous views and ski in access. Construction has begun with Finbro Construction and it is not too late to personalize these extraordinary properties. Marketing plans are in production, but I can share construction drawings upon request.

Hotel Ajax in the Town of Telluride is located on the east end of Main Street near the Post Office. It is slated to have 50 hotel rooms and 10 condos on the upper 3rd and 4th floors. The units are 3-4 bedrooms, 2,200-4,000 sf and pricing will start around $1,200/sf and probably exceed $1,500/sf. View the most recent floor plans, schematics and renderings. They hope to break ground later this summer and be completed by Christmas of 2016. They intend to have it branded as a Starwood Luxury Collection, but this is not done yet. Read recent article.

The Four Corners development is the project that includes the Village Market, Baked in Telluride, the falling down building across the street referenced as the Telluride Transfer Warehouse/Southwest Corner and the vacant lot diagonally across from the Village Market next to the Library, known as the Southeast Corner. The developer has sold off the Village Market and the BIT buildings. They are in the process of finalizing their approvals for a dramatic duplex on the SE Corner with a groundbreaking this summer; renderings attached. The SW Corner is in the entitlement process and promises to be a very interesting project. View the preliminary designs.

If you have an interest in any of these, please feel free to contact me for additional information.
Hope to see you in Telluride soon…





Telluride Real Estate Market Surges 48% in 2014

The Telluride real estate market shows continued improvement with an increase over last year of 48% in dollar volume and 28% in number of transactions with an average transaction amount increase of 15% to $912,500. The Town of Telluride continues to be the strongest performer but Mountain Village showed tremendous improvement due to the return of home sales and the $39m sale of the Madeline Hotel to Apollo. Outlying areas exhibited a moderate increase, contributing to 2014’s banner year.
The following facts are of particular interest:
  • Town of Telluride median home price increased 54% to $2m.
  • Condos in TOT saw a median sales price increase of 44% and the number of sales increased 82%.
  • The number of homes sold in MV increase 212% from 8 sales to 25.
  • Condo sales in MV decreased from 73 sales to 56 or (23%).
  • The percent of list price received average was 93%, the same as 2013.
  • The average days on market increased by 11% to 280 days.
Telluride Properties maintained its roughly one quarter market share while constituting only 9% of the brokerage community. More importantly, we once again had the highest sales volume average per broker reinforcing our efforts to be the best, not the biggest. Looking ahead, the market has over $70m under contract, well ahead of last year, and the O’Neill Stetina Group is involved in $20m of this volume.
Other Resort Markets:
In other ski resorts, the results are mixed. Aspen saw a 28% increase in dollar volume with the average sales price increasing 23% to $2.8m due to a spike for homes over $7.5m from 19 sales last year to 35 in 2014. The highest price per square foot ever was registered this year at $3,100/sf or $15.8m for 5,053 sf for the penthouse on The Muse Building. New penthouses in town were banned 2 years ago and sales of these properties have seen significant appreciation. Developers and spec builders have returned in force and they are buying everything they can get their hands on.
Meanwhile in Vail, the dollar volume increased from $1.06b in 2013 to $1.33b in 2014. Sales in Vail and Lionshead were up 73% bolstering the market with an additional boost in the over $3m market where sales totaled $507m in 2014 versus $308m in 2013. Jackson Hole has actually seen a drop in dollar volume of 8% due to its second lowest inventory in 25 years. Dollar volume of sales over $3m dropped 13% due a similar inventory condition. In turn, this lack of inventory spiked prices where the median sales price jumped 16%.

Please contact us for more detailed information on the Telluride Real Estate Market.

Ragland property, Trout Lake, Telluride, Colorado.
Quentin Tarantino Chooses Headwater Ranch as a filming location for his latest movie The Hateful Eight!


Jeep, Coors and American Express have filmed commercials in Telluride recently!

conde-nast-2014-15-sealConde Nast Traveller ranks Telluride #1 for the third year in a row!


Telluride/Montrose Airport sets record, is the most reliable and easiest to get to in ski country!