Telluride Q2 2025 Market Report

The first half of 2025 marks a significant shift in the Telluride real estate market, showcasing clear signs of stabilization. After a period of intense activity, demand has cooled from its previous frenetic pace while supply has improved, offering buyers more choices and greater leverage. This evolving balance benefits both buyers and sellers, creating a healthier market dynamic. Recorded sales volume is down 29% year-over-year. When accounting for unrecorded contracts, such as those at the Four Seasons, the overall transaction volume surpasses last year’s
figures. Demand is now more aligned with market realities. Several factors have contributed to this including economic uncertainty and higher interest rates prompting some buyers to pause, particularly from March through June. July, however, has seen a resurgence in activity, with brokers reporting increased interest and transactions. The imminent groundbreaking of the Four Seasons is regarded as a cornerstone moment in Telluride’s maturation, seemingly
drawing renewed attention from buyers. The upper end of the market is showing remarkable vitality. Homes priced at $20 million or more are active, with a notable sale in West Meadows near $20 million and a Mountain Village property under contract with an asking price
of $41 million. Several Four Seasons condos are listed at over $20 million. This new price stratosphere is expected to become more common as aging Baby Boomers downsize, bringing dramatic, never-before-seen custom homes to market.

The arrival of these high-caliber homes is both a surprise and an expected evolution for many in the community. As these significant sales continue more owners are likely to list their properties, further balancing supply and demand. Sellers of luxury homes are poised to absorb new full-service properties like the Four Seasons, offering these sellers a strong arbitrage opportunity as the market continues to rise. Despite high interest rates, the lower end of the market remains active. Many full-time residents are finding ways to purchase homes in the Telluride area, supported by effective first-time homebuyer programs. These initiatives have
successfully enabled young buyers to achieve homeownership, reflecting Telluride’s “it takes a village” ethos and strengthening the community’s fabric. Telluride’s real estate market in early 2025 is characterized by stabilization, increased balance, and new opportunities
at both the luxury and entry levels. The market’s maturation, highlighted by landmark projects like the Four Seasons and Highline, underscores a dynamic and evolving landscape for all participants.