October a great month for property sales
Property sales highest October levels since 2007
By Collin McRann
Published: Wednesday, November 14, 2012 6:06 AM CST
October was full of more than just warm weather in Telluride and Mountain Village as property sales
heated up. According to data compiled by Judi Kiernan of Telluride Consulting, eight homes were sold in Telluride
during October totaling around $19 million. A high dollar value was seen in other areas of San Miguel
County. So far this year, Mountain Village saw a huge increase in home sales with around $43.4
million in sales up from $23.6 million from all of last year.
Kiernan said many factors have contributed to the big jump from last year’s numbers.
“I know anecdotally what people would consider to be the good deals in town are being purchased,”
Kiernan said. “The savvy buyers are realizing that it appears our market here in Telluride is
beginning to improve, and if they are going to get one of those good deals, now is probably the time
to do it. Maybe it’s even past time to do it.”
Since 2007, the number of properties sold each month in Telluride has been inconsistent as some
months have been up while others have been down. But according to Telluride Consulting’s data,
October of this year was the best October since 2007 with 46 property sales in San Miguel County.
“Needless to say, the market is doing very well,” said Lynn Ward of Peaks Real-Estate in Telluride.
“The title company just told me that last month was one of the highest real estate transfer tax
months that we’ve had in a very long time.”
Kiernan said one of the contributing factors to October’s strong sales was the completion of some
new construction projects. She said in small markets such as Telluride, the completion of construction
contracts could offset a month’s sales results.
But as for what November and the remainder of 2012 holds for real estate sales, the stellar numbers
of October might not been seen again. October, however, does show the highest dollar volume in
sales for that month since 2007, with $49.1 million compared with $56.4 million in October of 2007.
“As I always say, one month does not a trend make,” Kiernan said.
But just about every month this year, property sales in San Miguel County have been above those in
previous years since 2007. With 2012’s sales showing an upward trend, the hope is that sales will
continue to improve.
“In Telluride if you look at the dollar volume from 2011 to as of right now in 2012 to date, we’re up
about 127 percent,” Ward said. “So that’s pretty exciting.”
As for what type of properties are selling in October in San Miguel County, Kiernan’s data shows the
top three units selling are single family homes in Telluride with eight units sold, followed by eight
Mountain Village half-duplex condominiums and five Telluride half-duplex condominiums, all totaling
more than $32 million.
The comeback has been a relief to a lot of people who have managed to hold on to their properties,