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First Quarter 2025 Telluride Market Update

Q1 2025 Telluride Real Estate Market Report

Resilience, Opportunity, and Regional Highlights

View the full report here. The first quarter 2025 Telluride market update has reinforced a powerful truth about the Telluride real estate market: its enduring allure, even in times of national uncertainty. While much of the country grapples with economic turbulence—rising costs, a volatile stock market, and slowing transaction volumes—Telluride’s property market continues to defy expectations.

Buyers and investors drawn to this one-of-a-kind alpine enclave are not just seeking square footage—they’re buying into a lifestyle. With its limited inventory, breathtaking scenery, and global reputation as a four-season destination, Telluride, Colorado, remains a safe haven for those seeking long-term value in real estate.

Market Overview: Strong Foundation Amid National Volatility

Despite concerning national headlines, Telluride’s real estate activity continues to prove that this market operates on its own fundamentals. While economic fears linger elsewhere, Telluride benefits from:

  • Wealthy homeowners with substantial equity

  • Pent-up demand from lifestyle-driven buyers

  • A tangible asset shift away from the stock market

  • An emotional connection that outweighs fiscal caution

Historical trends back this confidence. Even in prior recessions, Telluride home prices have remained strong, often surging in the years following economic downturns. So far in 2025, the story is no different.

Q1 By the Numbers

As of March 31, 2025, here’s a market update snapshot of market activity in San Miguel County:

  • 243 active listings totaling $967 million

  • 42 properties under contract, valued at $182 million

  • 67 properties sold, totaling $172 million

  • Nearly two dozen reservations at the new Mountain Village Four Seasons

These figures indicate not just sustained interest, but significant dollar volume per transaction, reinforcing Telluride’s position in the luxury real estate market.

Spotlight: Local Market Segments

Let’s break down the market into its core subregions to see where the strongest movements and trends are emerging.

Town of Telluride

Refined Luxury Meets Historic Charm

The Town of Telluride experienced a 41% decline in the number of sales and a 56% drop in total dollar volume year-over-year. While this may appear dramatic, it’s important to consider that Q1 2024 was unusually active, and today’s buyers are focusing more intensely on value and location.

Key Q1 Stats:

  • 14 residential sales, totaling $36.4 million

  • Median sold price: $2.4M–$8.9M depending on product type

  • Strong demand for 3–5+ bedroom homes and larger condominiums

  • New listings show median asking prices around $5.95M for 4-bedroom homes and $1.79M for 2-bedroom condos

Despite a moderate market reset, Telluride homes continue to command premium pricing—particularly for properties that boast walkability, views, and high-end finishes.

Mountain Village

Consistent Performer in the High-End Sector

With 21 residential sales totaling $70.5 million, Mountain Village remains Telluride’s most active luxury submarket. While the number of transactions fell just 4% year-over-year, dollar volume dipped 15%, largely due to fewer ultra-luxury sales.

Standout Trends:

  • Condominiums—particularly 3- and 4-bedroom units—are commanding median prices above $3.4M and $5.6M, respectively

  • Single-family homes with 5+ bedrooms are listing up to $41M

  • Average days on market for deed-restricted units: just 38 days

Inventory remains tight, and new projects like the Four Seasons Private Residences are generating excitement among both locals and second-home buyers.

Surrounding Areas

The Rise of Regional Lifestyles

Telluride’s first quarter market update shows that areas outside the core towns of Telluride and Mountain Village—such as Aldasoro Ranch, Placerville, Wilson Mesa, and Iron Springs Mesa—are seeing renewed interest from buyers seeking space, seclusion, and value.

Q1 2025 Highlights:

  • Deep Creek Mesa saw 5 sales, with a median price of $3.25M

  • Iron Springs/Horsefly Mesa recorded a notable sale at $4.5M

  • Down Valley continues to offer affordability, with land listings starting as low as $200K

  • Specie and Hastings Mesas saw activity between $275K and $849K

These areas attract a mix of legacy buyers, conservation-minded investors, and those looking to build custom homes on large parcels.

Notable Sales and Listings

Featured Q1 Transactions

  • 108 N. Columbine, Telluride: Sold for $4.185M

  • 13 Stonegate Drive, Mountain Village: Sold for $8.795M

  • 842 Pine Drive, Log Hill Mesa: Sold at asking for $849K

Key Listings

  • 216 East Serapio Drive, Aldasoro: Offered at $8.499M

  • 140 West Serapio Drive, Aldasoro: Listed at $7.995M

  • 258 Benchmark Drive, Mountain Village: Priced at $8.25M

  • 404 East Columbia Avenue, Telluride: Available at $7.7M

These properties represent the high watermark of the Telluride luxury market, offering panoramic views, impeccable finishes, and unparalleled access to both nature and resort amenities.

Inventory Trends: Supply Building, Demand Stable

One of the defining shifts shown the early 2025 market update is the gradual rise in inventory. While still historically low, the growing selection offers a healthier balance between supply and demand.

Current inventory snapshot:

  • Mountain Village: 28 homes, 41 condos, and 20 vacant land parcels

  • Town of Telluride: 18 homes, 33 condos, and 9 lots

  • Surrounding Areas: 65+ active residential and land listings

This return to balance benefits both sides of the transaction. Buyers have more options, and sellers still enjoy strong pricing due to Telluride’s inherent scarcity.

Deed-Restricted Market: A Hotbed of Activity

One of the hottest segments this quarter is the deed-restricted condo market under $1 million, particularly in Mountain Village. Units here are:

  • Selling in under 40 days

  • Seeing competitive multiple-offer scenarios

  • Vital for the local workforce and community sustainability

This sector represents a critical piece of Telluride’s housing puzzle, ensuring the town remains livable for year-round residents who fuel the service, school, and government sectors.

Economic Drivers: Why Telluride Continues to Thrive

Despite broader macroeconomic headwinds, Telluride’s market resilience stems from several foundational strengths:

1. Tangible Asset Investment

Buyers are increasingly favoring real assets over volatile stocks or cryptocurrencies. A home in Telluride is not just a safe haven—it’s a place to create memories, host family, and escape from the noise.

2. Emotional Pull

In uncertain times, emotional decision-making plays a bigger role. Telluride’s charm—its community, scenery, and exclusivity—offers the kind of “how can I not do this?” feeling that can’t be replicated.

3. Scarcity of Supply

With strict building codes, land constraints, and limited development opportunities, Telluride’s supply side ensures long-term appreciation potential.

4. Lifestyle Value

Access to skiing, hiking, dining, music festivals, and a true four-season experience makes Telluride a lifestyle purchase as much as a real estate one.

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