Anne-Britt Østlund On Telluride Real Estate Performance In 2020

Anne-Britt Østlund

Share this Post!

Editor's Note: Anne-Britt Østlund talks about the Telluride, CO real estate market performance in 2020 in this Q&A with Haute Residence.

How did the real estate market look in the beginning of 2020?

Being a ski resort town, we have distinct seasonal sales seasons; Summer is June through the 'leaf season' approximately mid-October, and Winter is December 20th through the closing of the Ski Area (Telluride) which is the first weekend of April. 2020 started out well for us, we finished the month of January at about par compared to the same time the previous year and even as Covid hit and our ski area shut down, we rounded that first quarter out right on track and then... it was crickets, until mid-June.

Anne-Britt ØstlundPhoto Credit: Whit Richardson Photography

What, if any, changes did the pandemic have on prices? On inventory?

Previous to the pandemic we had a healthy inventory in the Mountain Village where the ski area is primarily based out of. The Town of Telluride's inventory had always been fairly tight. However days on the market were still on average 6 to 9 months. Mountain Village was 12+! Now, anything under $2m is snatched up in 3 months or less and if a property is priced properly, it'll go immediately. Naturally, due to that lack of supply and high demand, prices are up and Sellers are firmer on those prices as well.

Anne-Britt ØstlundPhoto Credit: Whit Richardson Photography

Professionally, what have you learned in 2020 about yourself?

I love this question. I have learned A LOT this year both personally and professionally and I am sincerely grateful for every lesson. For me, professionally, this year was a lesson in understanding, patience and relying greatly on my ability to be able to adapt quickly and come up with creative solutions. We experienced so many delays with inspections and appraisals, our poor Title Companies were overwhelmed with business, I had to be more on top of the contract management than ever before as as one thing comes up. it affects everything down the line and the Sellers weren't always terribly understanding, I had to dig deep into my negotiating tool bag this year! I have the honor of working with some of the most incredible people from all over the world and I have been so happy to have been able to help so many people find their special spot this year, it's been a blast!!

Click "Learn More" above to contact Anne-Britt Østlund.

Related post