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Mike Shimkonis of Telluride Properties represented the Buyer of an Aldasoro Ranch home in Telluride, Colorado on nearly 4 acres for $4,150,000. The home was featured in Custom Homebuilding Magazine as “Custom Home of the Year” in Colorado a few years ago. The 8,900 square foot home offers very fine custom details including expansive hand-hewn timbers, reclaimed antique chestnut floors, numerous suites and a guest quarters. Just outside, a creek meanders around the property. The home is adjacent to 40 acres of scenic open space as well as a trout pond. The spectacular alpine estate has been featured in a recent Eddie Bauer Christmas catalog and is scheduled for another photo shoot for Athleta next month.
A bright spot in the Telluride Real Estate Market, this transaction represented the highest sale of a home in Aldasoro since January of 2011 and garnered the fifth highest sales price of a home in the Telluride Region YTD.
Mike Shimkonis is a senior broker and director for Telluride Properties, he is closing in on $190 million dollars in career sales. Mike is known for his tailored marketing programs, accurate pricing analyses and creative negotiating skills. He can be reached at 970-708-2157 or via his website at www.TellurideAreaHomes.com.
Through April, our market has had it’s slowest start in 5 years except for 2009. Much of this is due to the large flurry of activity in the second half of 2012 where buyer’s snatched up the better values in the market. During that period we saw the Town of Telluride as the most active segment, particularly homes in Town. New buyer’s in our market this winter are choosing to return in the summer before they purchase. This cycle will be the new norm and we will find that more of our business will be done in the second half of the year. In the future, the savvy contrarian buyers will recognize the first half of the year as a good opportunity to purchase.
Properties priced well continued to sell this winter, particularly in the Mountain Village condo market where projects such as Tristant have been very active. Slowly, values have started to enjoy some gentle appreciation in market segments with reduced inventories. Recent activity points towards a strong summer with buyer’s not only making value plays but also acquiring larger properties.
There has been a recent flurry of activity on development sites including the “Rosewood” site behind the Peaks, the “Post Office” lots next to the Post Office in Town and the “Four Corners” site in Town which would include Baked in Telluride, Village Market, the collapsing stone building below the market and a few other parcels adjacent to these properties. They all are slated for hotels and Four Corners would also include retail, educational and parking components. An interesting indicator of market momentum where investors are recognizing increased sales energy in development projects such as Element 52/Auberge Resorts.
The following are a few market points:
Year to date, we are down 17% in dollar volume from last year and down 11% in the number of transactions.
The average transaction dollar amount is down 7% year to date.
The average dollar amount per transaction for homes in Town, year to date over year to date, is down 60% and total dollar volume is down 70%. This is due to depleted inventory, in turn causing lot sales to increase in Town.
The average price per condo in MV is up 44%, year to date, as larger units become popular once again.
The median price per square foot for MV condos in 2011 was $386 and in 2012 was $423.
There are significant sales soon to be recorded in Town for homes and land as well as in Aldasoro, Idarado, and Element 52.
There are a number of interesting statistics in our new property ledger, Truly Telluride, which can be found at: http://issuu.com/tellurideproperties/docs/truly_telluride_volume_35?e=5121922/2611472 .
If you would like to monitor our market very closely and specific market segments, please feel free to go to my comprehensive and user friendly website Brian.SearchTellurideRealEstate.com .
Air service has been improved again this summer with more flights and larger aircraft from markets such as Atlanta, Chicago, LA and Dallas. See: http://us6.campaign-archive2.com/?u=ae8f2a252365d516c8610a557&id=ccff9ee92c&e=63b548d749
Telluride was ranked #5 overall in 2013 in the largest reader poll in the industry, Ski Magazine. http://www.skinet.com/ski/galleries/resort-guide-2013-west?i=55581436&s=27
Telluride schools were ranked #4 in the state behind 3 private schools making it #1 for public schools in the state. http://www.telluridenews.com/articles/2013/05/06/news/doc5182f3af2ded2899385766.txt
Summer booking numbers are ahead of last year by 15-19%. See the following link for a calendar of summer events: http://www.visittelluride.com/festivals-events
No matter how long you have called Telluride home – you still wake up on mornings like today and think to yourself, “Wow – how lucky am I?” In the infamous words of Albert Roer, “Just another day in paradise!”
A lovely evening rain gave way to a spectacular site this morning. Misty white clouds hung low in the Box Canyon against the backdrop of a signature sapphire blue Colorado sky. The green of the newly leafed out aspen provided a striking contrast to the freshly fallen snow that dusted the majestic San Juan peaks.
Featuring insightful articles on Education in the Telluride Region, the Telluride Foundation’s Telluride Venture Accelerator, and Telluride Festivals. Also includes vital real estate statistics and information on some of the region’s best properties.
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