Telluride Colorado Real Estate
Community
 

TOWN OF TELLURIDE
While the historic Town of Telluride represents a relatively small portion of the county geographically (0.7 square miles of the total 1,287), it is the most densely populated area of the county and is still considered to be its hub. According to the 2000 Census, there are 2,200 full-time residents living in the Town of Telluride, with an ultimate year-round population for Telluride at build-out projected at 3,600. The town Planning Department estimates that the town is at 60-70% built-out commercially, and 55-65% built out in the residential zones. In 2004, condominiums continue to be the strongest sellers with nearly $67 million in sales. A continuing trend in the Town of Telluride is the renovation of older condominiums.

 
 
Another positive trend is that the local population is purchasing condominiums and other in-town properties for their primary residences. Many of these purchases are made possible through the First Time Home Buyers' Assistance Program in which Realtors donate a percentage of each closing to assist locals in their down payment for a first home.
Unlike many other ski resorts, Telluride is proving able to sustain a stable local community that contributes to its year-round vitality. Real estate opportunities in the Town of Telluride continue to be varied with prices as varied as the market itself. For example, asking prices for condominiums begin at just under $300,000 for a one-bedroom to over $3.695 million for a luxury condominium by the Gondola. The market for single-family homes includes everything from guest homes ranging from $850,000 to $7,250,000 for a luxury, custom home on the sunny northern hillside of town.

 

 
       
 
TOWN OF MOUNTAIN VILLAGE
Linked from the Town of Telluride by the sophisticated free Gondola transportation system, Mountain Village was incorporated in 1995 and is fast becoming an established and vibrant community. Mountain Village comprises 3.2 square miles situated on the rolling hills of Turkey Creek Mesa. The 92-acre Village core is surrounded by the ski area and offers the county's only golf course. The Mountain Village Planning department estimates that in 2004 over 60% of the towns available zoning for residential and accommodations uses are either built-out or in the approval process. Approximately 70% of all commercially zoned projects are either complete or in the process, and 78% of all employee housing units are now developed or under construction.
Condominium sales have picked up in Mountain Village with 81 sales valued at $79.2 million in 2004. Vacant residential homesites sales continue to be active in Mountain Village real estate. Currently there are single-family lots with ski access or close proximity to the golf course with ridge views, priced from $350,000, to larger ski parcels for almost $5 million. A premium ski-in/ski-out trailside lot is priced at an average of $1.5 million. Condominiums are priced from $6,400,000 for a luxury Peaks penthouse to $299,000 for a newer ski-in/ski-out one-bedroom. The average price of a Mountain Village condominium sold in 2004 was approximately $725,000. Single-family homes in Mountain Village are priced close to $1.395 million for a newer log cabin home with ski access, to over $14 million for a luxury ski-in/ski-out log and stone home of almost 15,000 square feet.
 
       
 
AREA SUBDIVISIONS
If you value privacy, space, spectacular views, and proximity to Telluride and Mountain Village, consider looking at these regional subdivisions: West Meadows, Sunnyside, Gray Head, Raspberry Patch, The Preserve, Elk Run, Telluride Ski Ranches, Aldasoro Ranch, and Last Dollar. They feature single lot building sites from $395,000 in the Ski Ranches to $6,500,000 in the second phase of Sunnyside Ranch. A variety of resale homes are available priced from $1,150,000 to $15 million for an extensive estate compound within 15 minutes of the ski area.
 
       
 
DOWN VALLEY
Comparatively lower prices, a warmer, gentler climate, and a true neighborhood feel help define what locals have long referred to as the Down Valley's market of Sawpit, Fall Creek, and Placerville. Here, you'll find an increasingly limited number of homes and building sites situated along the picturesque San Miguel River and set up against the dramatic red rock cliffs of the valley. Homes vary in age and size with prices starting around $425,000 and lots around $350,000
Down Valley is located about 15 minutes from Telluride and Mountain Village.
 
       
 
RANCH PROPERTIES
The Telluride region is full of wide open spaces, and many opportunities still exist to own a large ranch parcel on an outlying mesa. The minimum size of these properties is 35 acres, and there is still a selection of much larger parcels. Ranch lands at Wilson Mesa, Specie Mesa, Wrights Mesa, Hastings Mesa, Horsefly Mesa, and Iron Springs Mesa provide not only privacy, but also a deep connection to wildlife, nature and the intact romance of the West.
 
       
 
SHARED OWNERSHIP OPPORTUNITIES
Convenience and comfort are the key words used to describe the fractional ownership segment of the San Miguel County real estate market. In Mountain Village, those properties include Franz Klammer Lodge, Pine Meadows, Aspen Ridge, Inn at Lost Creek and Le Chateaux. In Telluride, the River Club and Smuggler condominiums offer fractional ownerships at reasonable prices and with flexible scheduling options. Prices in the Mountain Village range from $50,290 for a 1/20th interest in Franz Klammer Lodge, to $400,000 for 1/2 interest in a privately owned Aspen Ridge condominium. In-town opportunities range from $21,000 for two weeks at The River Club, to $179,000 for over five weeks, including the holidays.
 
       
     
       
 
Disclaimer: This information was compiled in January 2005 from information provided by
Telluride Consulting and the Telluride Multiple Listing Service. It is deemed reliable but not
guaranteed. It may contain some inaccuracies, omissions, or errors. As such, we make no
representation or warranty as to the completeness of this information.
 
       


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