Market Update – 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:
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