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Market Update June 2015

Telluride Real Estate Market Update

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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.

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

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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.

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UPCOMING TOWN DEVELOPMENTS
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 …

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Brian O’Neill, Director
Telluride Properties
970.708.5367, cell
brian@oneillstetina.com

Marty Stetina, Broker
Telluride Properties
970.369.5368, cell
marty@oneillstetina.com

237 South Oak Street @ the Telluride Gondola
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