May 2026 Market Summary Report

May concluded with 25 transactions totaling $62.71 million in sales volume. This represents a 22% decrease in transactions and a 23% decline in dollar volume compared to May 2025. Relative to the five-year May average, transaction activity was down 51%, and volume was down 45%, reflecting a market that continues to favor quality over quantity.

This trend has remained consistent throughout 2026. While transactions have moderated from the unprecedented pace experienced during the post-pandemic surge, values for premier Telluride and Mountain Village real estate have remained resilient. There has been no meaningful repricing of top-tier inventory; instead, buyers are demonstrating patience and precision in their acquisition decisions.

Year-to-date performance reflects this dynamic. Through May, San Miguel County has recorded 159 transactions totaling $330.14 million in sales volume. While the number of closed sales is 11% below the same period last year, total dollar volume is up 4%. Average transaction value has increased to approximately $2.08 million, compared to $1.78 million through May 2025, underscoring the continued strength of the upper end of the market.