The real estate market in San Miguel County had another robust month of sales, maintaining the momentum of the winter season. In February ’24, both the total dollar volume ($92.32 million) and the number of transactions (36) showed favorable increases compared to the previous year. Impressively, the year-to-date figures for ’24 exhibit significant growth in both total dollar volume (an 87% increase) and total number of transactions (a 25% increase) compared to the same period last year. The Mountain Village and Telluride markets are notably busier than they were at this time in 2023. Year-to-date sales in the Mountain Village market have risen from 30 last year to 33 this year, while the Telluride market has seen an increase from 11 to 15 during the same period. Dollar volume in the Telluride market has more than doubled, and in the Mountain Village market, it has increased by 32%.
There is a noticeable uptick in the number of properties listed for sale compared to last year. Although the number of existing contracts has decreased slightly from the previous year at this time, the peak of the ski season is approaching, and it will be interesting to observe the market’s performance in the remainder of the first quarter. Given the underwhelming performance of the first quarter in 2023, even a modest improvement in 2024 should be achievable.
