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