Telluride Q2 Real Estate Market Update

Telluride Real Estate Market Update – Q2 2025

A Market in Transition: Stabilization & Opportunity

The Telluride real estate market is entering a new phase of maturity and balance. After years of intense activity, Q2 2025 highlights a cooling trend marked by increased inventory, more realistic pricing, and opportunities for both buyers and sellers. While total dollar volume across San Miguel County is down 41% year-over-year, the number of transactions is up 17% compared to 2024.

San Miguel County Market Overview

Key Stats From Year-to-Date:

Transactions: ▼1% vs. 2024
Dollar Volume: ▼29% vs. 2024 ($358.5M YTD)
Luxury Market Activity: Strong, with multiple sales over $20M

The market’s slowdown is partly due to economic uncertainty and high interest rates, but a resurgence of activity began in July. Luxury buyers are actively pursuing custom homes and full-service offerings. At the same time, local buyers are being supported by effective first-time homebuyer programs, further diversifying the ownership base.

Town of Telluride: Inventory & Sales Snapshot

What’s Selling?

As of June 30, 2025:

Total Sales: 32 properties
Dollar Volume: $82.2M
Sales Down: 20% in units, 45% in volume vs. 2024

Median Sale Prices:

Homes: $3.63M
Condos: $999K – $3.27M
Land: $2.65M

What’s For Sale?

30 single-family homes (median: $6.9M)
43 condos (median: $2.45M)
10 parcels of land (median: $2.5M)

Buyers are finding value across a range of condo and home options, while sellers are adjusting expectations with modest discounts between 2–7% off asking prices.

Mountain Village: Strong Luxury Segment

What’s Selling?

Total Sales: 38 residential properties
Dollar Volume: $142.1M
Sales Down: 20% in units, 34% in volume vs. 2024

Notable Activity:

Homes sold up to $14.35M
Condos sold up to $5.15M
Land parcels sold from $612K to $2.95M

What’s For Sale?

37 homes (median: $7.25M)
43 condos (median: $2.24M)
27 land parcels (median: $2.25M)

Mountain Village remains a hub for ultra-luxury inventory, with high-end homes drawing interest from Baby Boomers and affluent second-home buyers.

Surrounding Areas: Diverse Offerings & Values

What’s Selling?

Strongest sales in Deep Creek Mesa, Turkey Creek Mesa, and Down Valley
Median sale prices range from $275K (Hastings Mesa) to $4.4M (Iron Springs), with a high of $19.75M

What’s For Sale?

Wide inventory across areas like Specie Mesa, Wilson Mesa, and Deep Creek
Prices range from $379K to $23M
Median asking prices remain competitive for acreage and privacy

These rural lifestyle markets offer compelling options for those seeking space, seclusion, and value compared to core areas.