​ Leadership Through a Difficult Winter in Telluride

This past year has been one of the most emotionally difficult and professionally demanding periods I have experienced in our community.

In September, I was installed as President of the Telluride Association of REALTORS®. The very next day, I received notice from a colleague that a local group was petitioning to place a ballot question on the Town of Telluride’s November ballot to amend the Home Rule Charter. The proposed amendment was positioned as an anti-growth initiative, but one of its primary objectives was to derail the Lawson Hill project that included the future regional medical center.

For many of us, the medical center is not simply another development project. Our region’s current medical facility is operating under a lease that will not continue beyond the next couple of years, and our community has spent nearly a decade searching for a viable solution to provide long-term healthcare infrastructure for residents, visitors, and our workforce. At the same time, the ballot initiative sought to slow or prevent several other community projects, including workforce housing for teachers, improvements to the gondola station, and development proposals intended to support the long-term vitality of Telluride.

In response, a coalition of local business owners, community members, and organizations came together to provide factual information and encourage productive dialogue. I served as chair of that coalition, Neighbors for Telluride. It was an exhausting and emotional few months. The community became deeply divided, conversations became increasingly hostile, and many individuals on all sides experienced significant personal stress. I was personally the recipient of a great deal of criticism and negativity throughout the process.

Despite the tension, our coalition remained focused on facts, outreach, and one-on-one conversations. Ultimately, the ballot question was defeated, allowing the regional medical center project to continue moving forward. I remain grateful to everyone who dedicated their time, energy, and voices toward ensuring healthcare remains a priority in our region.

At the same time this ballot fight was unfolding, another major challenge was emerging within our community: the labor dispute between Telluride Ski & Golf and the ski patrol union.

Members of ski patrol approached community leaders and organizations seeking financial assistance for meeting facilitation and negotiation support. Negotiations between patrol and resort ownership had already been ongoing for more than a year regarding wages and compensation structure. Patrol members were seeking what they described as a livable wage and compensation more in line with comparable mountain resorts.

The situation highlighted a difficult reality: ski patrollers are highly trained professionals responsible for avalanche mitigation, mountain safety, emergency medical response, and guest protection, but they are not necessarily trained negotiators or labor strategists. Meanwhile, resort ownership held significant leverage within the negotiations.

As discussions continued to deteriorate, tensions escalated publicly. The possibility of a strike became increasingly likely, and ultimately ski patrol walked out for 12 days during peak winter season. The impact was immediate and devastating for most local businesses because they depend on winter tourism revenue.

At the same time, there were already broader concerns surrounding the long-term sustainability and infrastructure of the resort itself. Discussions throughout the community increasingly centered around deferred maintenance, aging lift infrastructure, operational costs, snowmaking expenses, and the future financial direction of the ski company. Public disagreements between resort ownership, local governments, and community leaders became more visible and increasingly contentious.

During the height of the dispute, local officials, who stated they were acting on their own accord and not in the roles of government officials, attempted to facilitate conversations and explore potential partnership ideas aimed at reopening the resort and stabilizing operations. Unfortunately, those efforts later became part of broader legal disputes and public accusations that only intensified community tensions and generated additional negative national media attention.

The result was months of negative press surrounding Telluride at a time when our economy depends heavily on tourism confidence and destination perception.

Then came one of the most difficult winters in recent memory. Snowfall was historically low. Chuck decided not to blow snow because he was in a dispute with the Mountain Village and did not want to pay the water rates. Warm temperatures and lack of snowpack forced operational challenges across the mountain, and the season ended early as terrain conditions deteriorated rapidly. Businesses that had already suffered through the ski patrol strike now faced shortened visitation and significant economic losses.

The effects extended beyond the mountain itself. Visitors canceled trips. Restaurants, retailers, lodging operators, and service providers experienced reduced revenue. Community morale suffered. Many businesses were still trying to recover when broader global economic uncertainty and international conflict further slowed consumer confidence and discretionary spending.

It felt like one difficult challenge layered on top of another.

And yet, despite everything, I remain hopeful.

As we move into summer, our community needs a strong tourism season. Local businesses need visitors returning. Families need stability. Employees need opportunity. And after such a difficult winter, many people simply need optimism again.

From a real estate perspective, the market itself remains remarkably stable. Inventory levels have improved, buyer activity continues, unemployment remains low nationally, and interest rates have stabilized into a healthier balanced market environment. While outside factors — including wildfire risk, economic uncertainty, and continued negative press — remain concerns, the underlying fundamentals of our region continue to show resilience.

This winter tested our community in many ways. It revealed fractures, frustrations, and vulnerabilities. But it also reminded me how deeply people care about this place and how important it is that we continue finding ways to work together, communicate respectfully, and focus on long-term solutions rather than division.

Telluride’s future depends on it.

Housing availability continues to be one of the most defining challenges across San Miguel County, and a recent county-led housing code update highlights just how complex—and consequential—this issue has become. With nearly half of the local workforce commuting more than 25 miles and an estimated need for 1,100 additional housing units by 2030, the county is actively examining how land-use regulations may be unintentionally limiting new housing development in unincorporated areas.

To address this, the county launched a comprehensive land use code audit and convened a Stakeholder Strategic Roundtable made up of property owners, developers, local workers, and infrastructure planners. Their goal: identify regulatory barriers that increase costs, slow approvals, or restrict housing types—and find ways to streamline the process while preserving community character. These housing policy discussions tie directly into current Telluride real estate market conditions, particularly around inventory and long-term value.

One of the most significant discussions centers around Colorado’s Proposition 123 “Fast Track” standards, which incentivize expedited review for housing projects that include affordable units. The county is currently on track to meet state deadlines, a key requirement for maintaining access to planning grants that help fund this work. Notably, stakeholders supported adjusting Area Median Income (AMI) thresholds upward—settling on 120% AMI for rentals and 200% AMI for ownership—to better reflect the realities of a rural resort economy like ours. For those considering buying a home in Telluride, understanding how housing policy shapes supply is an important part of long-term planning.

So why does this matter to Telluride buyers and sellers? Regulatory changes can influence Telluride home values, particularly as surrounding communities adjust housing density and approvals.

For sellers, housing policy directly affects land values, development potential, and long-term market stability. Regulatory changes that allow more housing density or faster approvals in surrounding areas can influence demand patterns, pricing pressure, and future inventory—especially for workforce and middle-income housing.

For buyers, particularly those investing long-term, these updates signal how the region is planning for sustainability. A healthy housing ecosystem supports the local workforce, strengthens the year-round economy, and protects the lifestyle that draws people to Telluride in the first place.

My local takeaway: this process isn’t about overdevelopment—it’s about thoughtful calibration. San Miguel County is attempting to balance housing needs with limited land, infrastructure constraints, and the preservation of community character. For anyone considering buying or selling in Telluride, understanding these policy shifts is essential. Real estate here has always been shaped as much by planning decisions as by natural beauty—and staying informed is part of protecting both your investment and our community’s legacy.

Telluride News – Jan. 30, 2026 – County continues housing code discussions

Luxury. Legacy. Lifestyle. Let’s find your place in Telluride.

Using MLS data, I analyzed real estate sales in 2025 compared to 2024 across the Town of Telluride, Mountain Village, and San Miguel County. Overall, the Town of Telluride and Mountain Village experienced a slight decline in both the number of transactions and total dollar volume, while the remainder of the County saw increases in both activity and volume over last year.

When looking at median sold prices—which better reflect typical values because they are less affected by ultra-luxury outliers—the median single-family home price in the Town of Telluride was $4,399,000, compared with $7,575,000 in Mountain Village.While median home values softened slightly in 2025, average price-per-square-foot actually increased for single-family and condominium sales in both Telluride and Mountain Village, signaling that updated, well-located properties are still commanding premium pricing.

END OF YEAR 2024 END OF YEAR 2025
# OF TRANSACTIONS DOLLAR VOLUME # OF TRANSACTIONS DOLLAR VOLUME % DIF
TELLURIDE:
Telluride Condominiums/Half Duplex 42 $137,352,150 51 $132,809,000 21% -3%
Telluride Deed-Restricted Condos/Half Duplex 10 $3,624,870 5 $1,739,129 -50% -52%
Telluride Fractional Condominium/Half Duplex 5 $880,000 7 $935,500 40% 6%
Telluride Single Family Residential 23 $150,940,000 16 $89,988,000 -30% -40%
Telluride Deed-Restricted Single Family Res 0 $0 0 $0 0% 0%
Telluride Improved Non-Residential 4 $10,379,250 4 $6,705,000 0% -35%
Telluride Vacant Residential 5 $9,590,000 1 $1,237,500 -80% -87%
Telluride Vacant Mixed/Non-Residential 0 $0 2 $5,300,000 100% 100%
EOY 89 $312,766,270 86 $238,714,129
MOUNTAIN VILLAGE:
Mountain Village Condominiums/Half Duplex 37 $74,880,500 33 $66,640,600 -11% -11%
Mountain Village Deed-Restricted Condos/Half Duplex 9 $7,438,000 2 $1,525,000 -78% -79%
Mountain Village Fractional Condominium/Half Duplex 93 $13,624,500 87 $11,013,350 -6% -19%
Mountain Village Single Family Residential 24 $242,227,456 24 $217,492,500 0% -10%
Mountain Village Deed-Restricted Single Family Res 1 $2,175,000 2 $4,540,000 100% 109%
Mountain Village Improved Non-Residential 6 $3,760,000 3 $2,105,125 -50% -44%
Mountain Village Vacant Residential 13 $26,216,000 11 $18,701,766 -15% -29%
Mountain Village Vacant Non-Residential 0 $0 0 $0 0% 0%
Mountain Village Deed-Restricted Vacant Non-Residential 2 $397,000 0 $0 -100% -100%
EOY 185  $     370,718,456 162  $     322,018,341
TELLURIDE-MOUNTAIN VILLAGE 274 $683,484,726 248 $560,732,470
Remainder of COUNTY:
Aldasoro Single Family Homes 7 $41,664,320 3 $24,935,000 -133% -67%
Aldasoro Deed-Restricted Homes 2 $3,750,000 0 $0 -100% -100%
Aldasoro Vacant Residential 3 $4,390,000 2 $4,650,000 -50% 6%
Aldasoro Deed-Restricted Vacant Residential 0 $0 2 $775,000 100% 100%
Ski Ranch Single Family Homes 5 $14,440,150 5 $19,060,300 0% 24%
Ski Ranch Vacant Residential 2 $1,655,000 1 $1,100,000 -100% -50%
County Condominiums/Half Duplex 4 $4,099,000 4 $3,795,000 0% -8%
County Deed-Restricted Condos/Half Duplex 0 $0 2 $750,000 100% 100%
County Single Family Homes 47 $118,340,889 55 $134,845,150 15% 12%
County Deed-Restricted Single Family Home 15 $9,967,400 8 $6,547,500 -88% -52%
County Improved Non-Residential 2 $806,000 1 $315,000 -100% -156%
County Deed-Restricted Improved Non-Residential 0 $0 0 $0 0% 0%
County Vacant Residential 35 $31,211,500 30 $12,774,300 -17% -144%
County Deed-Restricted Vacant 1 $125,000 1 $220,000 0% 43%
County Vacant Non-Residential/Mixed 1 $500,000 4 $3,870,000 75% 87%
854 $616,794,895 884 $724,790,245 104% 118%

 

This year marked a meaningful shift from a strong seller’s market toward a more balanced environment. Dated or less-desirable properties are taking longer to sell, while updated and thoughtfully designed homes continue to move quickly.

Interest in vacant land remains muted, largely due to high construction costs and associated development fees, which have led some owners and buyers to redirect plans to other markets. Mesa properties and ranches also slowed over the past few years as buyers explored alternatives across Colorado — though we are now seeing value recognition return in San Miguel County, bringing renewed interest to these lifestyle-driven properties.

It’s also important to recognize activity not fully captured in the MLS. Mountain Village’s Highline Residences project continues to advance, with 12 of 16 residences pending, totaling approximately $82,950,000 in list price volume. Meanwhile, the Four Seasons project has broken ground, with more than 10 presales reportedly under contract and completion anticipated within the next three years, though limited public data is available.

Overall, the sold data reflects a normalizing market with selective strength. New, high-end construction in both Telluride and Mountain Village continues to perform exceptionally well, reinforcing buyer demand for modern design, amenities, and turn-key mountain living.

Telluride News January 22, 2026 – Area Realtors Asses Telluride Real Estate Market

Luxury. Legacy. Lifestyle. Let’s find your place in Telluride.

Real estate trends photo 1.jpeg

Area realtors assess 2025 market

Deposits on units at significant Mountain Village projects buoy local market

“Intentional, inspired, resilient, pragmatic” are words Compass Founding Broker Bill Fandel used to describe the Telluride region’s 2025 real estate market.

Noting that the overall 2025 market was down by 13.4% in sales dollars with a 7.2% drop in closed sales, the executive director of Telluride Properties, TD Smith, said there are over $300 million in “hard” contracts with 50% non-refundable deposits on units at Mountain Village’s Highline project, which won’t close for another 18-24 months, and at the Four Seasons Telluride project, which won’t close for another two and a half to three years.

“If you add those as sales back into our year-end production, the market in 2025 outproduced 2023 and 2024 sales,” he explained.

Smith sees the market as driven by higher-end homes and condos, citing fewer sales and higher dollars with more movement in Mountain Village due to more upper-end product.

“The $2 to $5 million mid-market is languishing in part because of lower supply,” he added.

Director of the O’Neill Stetina Group Brian O’Neill said town of Telluride prices “seemed to overheat” in 2025, so buyers retreated to Mountain Village, where money went further.

“Mountain Village will remain more active than town of Telluride in 2026, driven by its values,” he predicted.

The director of Shimkonis Partners, Mike Shimkonis, said the market transitioned from “velocity at any cost” to “deliberate precision,” offering buyers more choices and “the best leverage they’ve seen in five years.”

He said the fastest-selling market segment in the county is deed-restricted properties.

According to the Multiple Listing Service (MLS), 20 deed-restricted properties sold last year; the lowest for $265,000 in the town of Telluride and the highest for $2.4 million in Mountain Village.

“Improved deed-restricted properties took 73 days from listing to sold with an average sold price of $789,000,” Shimkonis reported.

The MLS indicates 113 free-market single-family homes sold in 2025; the lowest at $220,000 in Norwood and the highest at $39 million in Mountain Village. There were 88 free-market condos sold in 2025; the lowest for $400,000 at the Peaks Resort and Spa and the highest for $7.7 million in Telluride.

“Mountain Village condos saw a meaningful jump in price per square foot to $1,475, while Telluride single-family homes reached $2,353 per square foot average,” Shimkonis said.

Fandel noted that newer or core-location properties in the town of Telluride achieved close to $3,000 per square foot.

Kiplynn Smith, president of the Telluride Association of Realtors and Mountain District vice president for the state, said “median sold price” better reflects typical values as they’re less affected by ultra-luxury outliers.

“The median single-family home price in the town of Telluride was $4.4 million compared with $7.6 million in Mountain Village,” she noted. “Dated or less-desirable properties are taking longer to sell while updated and thoughtfully designed homes continue to move quickly.”

Vacant land, secondary locations and outlying tracts across the county moved more slowly, in part, Shimkonis said, because buyers want turnkey.

“Elevated construction costs and increasingly complex permitting requirements continue to weigh on that segment,” Fandel added. “Labor, construction and permitting costs continue to rise year over year across the region, and these pressures have proven difficult to offset through efficiencies.”

In a recent industry memo, Land Title Vice President Robin Watkinson noted a 51% increase in gross volume this December over last, citing a 14% increase in transactions totaling $83.5 million.

“This brought our year-end gross volume to $878.5 million, slightly surpassing our 2023 figures,” she reported.

While noting a slight correction in residential values from their peak in 2024, Watkinson reported that December residential values significantly outperformed the year-to-date average.

“Overall, 2025 values remained higher than those recorded in 2023, and price-per-square-foot metrics continue to hold steady,” she concluded.

Moving forward, Smith cautions that buyers shouldn’t count on deflation in area house pricing.

“At worst, we’re going to see prices hold,” he predicted.

Despite the dry start to the season and closure of the Telluride Ski Resort due to its now-resolved dispute with Telluride Ski Patrol, LIV Sotheby’s International Realty Associate Broker Teddy Errico, who also serves as mayor of Telluride, remarked: “The people who want to buy into Telluride still will.”

 

Perched slope-side in the exclusive Cortina enclave, 230 Cortina Drive is a newly completed 3,848 sq ft ski-in/ski-out retreat that blends contemporary design with mountain luxury. Floor-to-ceiling glass, natural stone, and steel accents frame panoramic San Juan views and connect to the Sundance ski run. The home offers four ensuite bedrooms, two half baths, and an open-concept living space with a sleek fireplace and double glass walls opening to 475 sq ft of wraparound terraces. A chef’s kitchen, treehouse-style dining area, and proximity to the Mountain Village core make this a rare alpine escape.


The Four Seasons is breaking ground soon! Click below to view a detailed brochure of the project.

 

 

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