This October 2023 report summarizes September 2023 luxury-market results in Telluride. Its two original graphics compare September 2022 with September 2023; the market classifications are historical and specific to each property category.
Open the original 26-page luxury report for its category definitions, tables and North American comparisons.
The report labeled this segment a buyer’s market with a 7% sales ratio. Inventory rose from 82 to 98 while sales fell from ten to seven. The median sale price was $4,850,000, versus the chart’s rounded $3.10 million a year earlier. Reported sale price per square foot increased from $1,146 to $1,807.
The median sale-to-list-price ratio fell from 100.00% to 97.10%, a difference of 2.90 percentage points. Median days on market declined from 96 to 75. The most active band was $11,000,000–$11,999,999, with a 50% sales ratio. These small category totals do not establish that all luxury buyers obtained favorable deals.
The attached segment was classified as a seller’s market at a 51% sales ratio. Inventory declined from 39 to 35 while sales rose from 17 to 18. Its median sale price was $2,097,500, rounded to $2.10 million in the chart, versus the prior rounded $1.35 million. Reported sale price per square foot declined from $1,456 to $1,355.
The median sale-to-list-price ratio was 95.82%, compared with 100.00%, a decrease of 4.18 percentage points. Median days on market doubled from 58 to 116. Calling that a slight increase or an average was inaccurate. The most active band was $800,000–$899,999, with a 200% sales ratio.
A sale-to-list-price ratio measures sale price relative to asking price. It does not measure profit, because it does not include the seller’s acquisition cost, improvements, carrying costs or selling expenses. Similarly, a 200% sales ratio does not mean homes sold for double their asking prices; the sales count exceeded remaining inventory in that band.
The different median marketing times describe the homes that sold in each sample. They do not prove that buyers became cautious, or that a particular home will sell within 75 or 116 days. Compare the relevant location, price band and condition before using a broad category result.
The report covers properties above its market-specific luxury benchmarks, with active and sold records and no pending properties in the stated data. A sales ratio compares the period’s sales with remaining inventory; it is not the percentage of asking price achieved. Ratios above 100% can occur when sales exceed the inventory remaining at the measurement date, and are not a probability of selling. Small numbers and a changing mix of homes can move medians substantially without measuring the appreciation of the same property.
For a property-specific comparison, contact Anne-Britt Ostlund at Mountain Rose Realty at 970.759.4886 or use our contact page. Compare current local listings and completed sales rather than applying a historical category summary to every home.