Telluride Finishes 2017 at Ten-Year Record High

The Telluride real estate market’s total sales for 2017 finished at a ten-year record high. Sales were significantly better in dollar volume and number of transactions compared to 2016. With $616.1M in contracts closed, sales are up 36% over 2016. The number of sales is up 10% with 618 closed transactions. The Town of Telluride’s high demand and limited inventory continue to be driving factors in the price of single family homes. With construction on nearly every block the past two years, vacant land sales have remained stable, with single-family home sales seeing an increase. Finished construction projects helped drive single family home sales, which are up 11% in number and up 38% in dollar volume. Condo/townhomes sales continue to trade hands with the number of sales up 19%. Mountain Village high-end luxury home sales continue to trend upwards. There were a record ten sales over $4M 2017. This market achievement boosted the dollar volume for Mountain Village single-family homes up 46%. With proximity to the ski resort along with rental income potential, Mountain Village condo/townhome sales remain an attractive purchase, with dollar volume up 27% compared to 2016. The remainder of the county saw a 23% increase in dollar volume compared to 2016. The Ski Ranches and Aldasoro luxury neighborhoods saw increases in single-family home sales. Notably, the Ski Ranches had nearly quadruple the number of vacant land sales in 2017 over 2016. Its privacy, views, flexible building guidelines, and transfer tax exemption prove to be an attractive purchase for future home construction. Entering 2018, the Telluride real estate market outlook is positive, with $87.2M in sales currently under...

Innovation

Welcome to my new website! I hope to share relevant, current, and fun information here and welcome your feedback on anything posted. New Model~I have had two recent conversations with friends and clients whom I particularly respect. Each happens to be a CEO. Each has managed to survive and thrive even during the recent recession. In one conversation, my friend was relating part of a speech he recently gave to a graduate real estate class. Among the most salient points: the seven most deadly words in business are “This is how we’ve always done it!” In the second conversation, my friend complained of a home he was trying to sell in a different market. “I am amazed that your industry has been successful working on a percent of the price. Seems to me that the cost to promote a house is the same regardless of price and a fixed fee to sell it would be more fair to the sellers.” I am a good listener and I definitely have a mindset of service. I have spent quite a bit of time thinking through and reviewing with yet another long term great friend and client, a new hybrid compensation model which, although still somewhat percentage based, has caps and delivers distinct value to my buyers and sellers. The construct is a 1% retainer, capped at $35,000 regardless of list or target acquisition price, payable at the signing of an agency contract. An additional 11/2% success fee for all amounts over $1MM would be payable at and contingent upon closing. Essentially this is just discount brokerage, but for an innovation to...