Market Summary by Brian O’Neill, Director

In an election year it is common that real estate sales slow down. Reports from Jackson Hole, Yellowstone Club, Vail, Crested Butte and Sun Valley are that sales have slowed. In recent years that was attributed to a lack of inventory, but today, inventories have increased in these locations. These markets appear to be stabilizing and returning to previous market conditions where buyers and sellers may be on more even ground.

In Aspen and Telluride, the markets are still showing sales increasing over 2023. Telluride has a 2% increase in the number of sales and the total dollar volume is up 15% with the average sale price increasing 13%. Aspen is a highly coveted market that seems somewhat insulated from market conditions at times. Telluride appears to be trending in that direction as people recognize that it is a truly amazing community with increasing demand and extremely finite inventory. Telluride boasts an endless list of positive attributes driving this market such as its low key sophisticated vibe, stunning in-your-face landscape, welcoming authentic town with several ski lifts, tremendous dining, safe lifestyle and endless adventures.

As Telluride matures with the addition of a Four Seasons, it is likely that demand will continue to increase as people forgo the ease of access to other ski towns for Telluride’s chill club like atmosphere on the slopes and hiking trails. Warren Miller’s famous quote has never been more poignant, “If you don’t do it this year, you’ll be one year older when you do.”