Black Canyon Builders builds in Telluride, as well as Pagosa Springs and Durango. I have a soft spot for this extraordinarily beautiful mountain town, having lived there off and on during my climbing years. While Durango seems to be recovering at a slightly quicker and stronger rate from the recent recession, Telluride’s re-emergence has been arduous.
The most recent news out of Telluride is the best I’ve heard in a long time. According to an article posted by Telluride Real Estate Brokers, both the local residential and commercial markets are exiting 2012 on a strong note.
Written by Dirk de Pagter, a managing broker, “Transactions both in volume and dollar amounts have increased significantly in 2012.” Single family homes in-town are leading the positive trend, with condo sales in Mountain Village in a distant second. On the commercial side, the downtown sector is stable with full occupancy in retail and negligible vacancy rates in office space.
The bottom line is that demand is getting closer to balancing with supply, and prices are stabilizing so much so that brokers are beginning to confidently forecast a steady rise.
From a quick look at the MLS listings for vacant land, there is a great variety and depth of inventory – ranging from affordable plots in the surrounding areas to the $29 million Sound of Music Ranch on Wilson Mesa.
Telluride Real Estate Brokers offers historical analyses of the local market, here.
