For the second time within a month, a mega celebrity has listed their Telluride home. Jerry Seinfeld, the comedian most known for his namesake 1990s sitcom, recently put his two properties on the market.
The 12,500-square-foot main house, which sits on 27 acres, features 11 bedrooms and 14 bathrooms and is listed for $14.95 million.
“It’s another spectacular home,” Realtor Bill Fandel of Compass said.
The interior features wood paneling and reclaimed plank flooring, as well as a large stone fire place and a dining area with commercial appliances. There are also views of Wilson Peak.
The house sits on 27 acres and there are several miles of trails on the property, which cross the Turkey Creek area into the surrounding National Forest lands. The natural beauty can also be enjoyed on the 5,500-square-foot deck outside.
The main house features a gym, yoga studio, lower-level gear and game rooms, a wine room, and four-car heated garage, which allows the owner to wash their vehicles inside year-round. The terraces and cobblestone driveway are heated as well. The home is being sold fully furnished.
Seinfeld also listed a four-bedroom home on 17 acres for $2.78 million. The buyer of the larger property will have the first opportunity to purchase the second home.
After a major renovation, the main house was listed for $18.25 million in 2011, but later taken off the market. Seinfeld, along with his wife Jessica, purchased the home in 2007 for $7.55 million. It was built in 1991 for a Hollywood director and was featured in Architectural Digest in 1994.
The Seinfelds also own property in the Hamptons, Manhattan and Los Angeles.
The COVID-19 pandemic created a real estate boom in more secluded communities, including resort mountain towns.
Tom Cruise, the world famous actor, recently listed his 320-acre property, which also includes two houses, for $39.5 million.
While the recent celebrity listings are high profile, they’re part of a trend over the past year. In Telluride, real estate sales have surpassed $1 billion, shattering the previous high of $460 million in 2007, right before the recession.
The market has rebounded since then, but the pandemic boost was unexpected, and the Telluride area wasn’t the only place to experience an increase in demand and prices in 2020.
According to a recent Bloomberg report, 842,000 existing homes were sold throughout the country in 2020, the most since 2006. That number doesn’t include new homes that were built within the past year. It’s supply and demand, paired with low interest rates that created the national surge in real estate, even while other sectors were experiencing a recession during the pandemic.
Housing prices rose, according to the S&P CoreLogic Case-Shiller National Home Price NSA Index, which tracks price changes of single-family homes. For example, in November 2020, prices rose 9.5 percent from the previous year. At the end of 2019, the average home was worth around $245,000. It’s now worth more than $266,000, according to Zillow, per a Vox media report.
“People who were on the edge about buying a home have jumped into the market; some of these people are first-time homebuyers or buying second homes, both of whom add considerable pressure to the market since they’re not putting up a home for sale as they take one off the market. Moreover, many people are choosing to just refinance their mortgage at the new, lower rate rather than deal with trying to find a new home in such a competitive environment,” Vox reporter Jerusalem Demsas wrote.