What is the median list price for homes in Telluride as of August 2024?

As of the week of August 9, 2024, the median list price in Telluride is $8,122,500, while the median price of new listings is slightly lower at $7,785,000.

What does a Market Action Index of 23 mean for buyers in Telluride?

An MAI of 23 indicates a slight buyer's advantage, meaning there is more inventory relative to sales activity, giving buyers more options to choose from in the current market.

How long do homes typically stay on the market in Telluride?

In August 2024, properties in Telluride average 236 days on the market, with a median of 119 days, indicating considerable variation in how quickly individual homes sell.

What is the current inventory level in the Telluride housing market?

There are currently 62 active listings in the Telluride market, which represents an increase in inventory and contributes to the slight buyer's advantage.

What percentage of Telluride listings have had price reductions?

As of August 2024, 27% of listings in Telluride have experienced price decreases, while only 3% have seen price increases, reflecting the current market dynamics.

Telluride Housing Market Sentiment - Week of August 9, 2024

By Anne-Britt OstlundAugust 9, 20241 min read

Buying a Home

As of the week of August 9, 2024, the Telluride housing market continues to display stability, with a median list price of $8,122,500. The Market Action Index (MAI) remains steady at 23, reflecting a similar trend to the previous month. This index, which compares the rate of sales to inventory, indicates a slight buyer’s advantage. With inventory levels increasing to 62, buyers have more options, yet prices have held firm for several weeks.

Market Action Index: 23 - Slight Buyer’s Advantage

While the MAI has been trending lower, signaling potential downward pressure on prices if inventory continues to grow, the current stability suggests that we are still below the market’s peak. The median price of new listings stands at $7,785,000, with properties averaging 236 days on the market. Despite these figures, the market remains resilient, and a persistent shift in the MAI will be required before any significant price changes occur.

Key Metrics:

Median List Price: $8,122,500
Median Price of New Listings: $7,785,000
Price Per Square Foot: $1,725
Average Days on Market: 236
Median Days on Market: 119
Price Decreased: 27%
Price Increased: 3%
Inventory: 62
Median Rent: $10,000

As the market evolves, buyers and sellers in the Telluride real estate market should stay informed about these trends. For those looking to buy, this slight advantage might be the right time to explore the available homes for sale in Telluride, CO.

Outro

If you're considering buying or selling in Telluride, now is the time to consult with a knowledgeable local expert. Anne-Britt Ostlund and Mountain Rose Realty are here to guide you through the nuances of the Telluride real estate market. Whether you're looking for luxury homes or investment properties, trust us to help you navigate these dynamic market conditions. Contact us today to explore the best opportunities in Telluride real estate.

Frequently Asked Questions

What is the median list price for homes in Telluride as of August 2024?: As of the week of August 9, 2024, the median list price in Telluride is $8,122,500, while the median price of new listings is slightly lower at $7,785,000.
What does a Market Action Index of 23 mean for buyers in Telluride?: An MAI of 23 indicates a slight buyer's advantage, meaning there is more inventory relative to sales activity, giving buyers more options to choose from in the current market.
How long do homes typically stay on the market in Telluride?: In August 2024, properties in Telluride average 236 days on the market, with a median of 119 days, indicating considerable variation in how quickly individual homes sell.
What is the current inventory level in the Telluride housing market?: There are currently 62 active listings in the Telluride market, which represents an increase in inventory and contributes to the slight buyer's advantage.
What percentage of Telluride listings have had price reductions?: As of August 2024, 27% of listings in Telluride have experienced price decreases, while only 3% have seen price increases, reflecting the current market dynamics.