Telluride Properties Realtor Damon Demas called the past year “hair on fire busy” for those in the real estate and related businesses sector. The destination has drawn global interest, he added, as it has been a record year for transactions. Such popularity also means more properties, mainly extravagant estates that rarely come to market, are available.
One example is the recently listed Hood Park Haven in Mountain Village, which carries an asking price of $36.8 million and is located near the Galloping Goose ski run. The 18,399-square-foot property features eight bedrooms, 13 bathrooms, a sauna, wine cellar, elevator, gym and media room.
“A phenomenon to observe, as evidenced by Hood Park Haven, is the fact that many people from around the world have invested heavily in our community, from the mesas to the Mountain Village. These significant financial investments in our real estate market and the residential architectural gems created have rarely come to market; they have not had the opportunity to recoup the investments made. The market was simply not there,” said Demas, the listing agent. “We now see a market strong enough to contemplate these significant listings that are slowly being released to the market. Given the activity we have seen in the first quarter of 2021, the timing seems right. As always, time will tell.”
Hood Park Haven is not far from Tom Cruise’s recently sold $39.5 million estate, which was available for less than a month. The property is adjacent to acres of Hood Park open space, and the surrounding views can be taken in via the floor-to-ceiling throughout the house, as well as the patios.
“Of the home’s many compelling characteristics, its 5,300-square-foot heated terraces and patio are particularly special. These outdoor areas are positioned to fully embrace the extraordinary assemblage of views the home’s setting captures,” Demas explained. “The south facing patio –– sitting adjacent to acres of open space –– makes one feel like there is no one around you for miles, and allows for all day sun, a rarity in the upper Mountain Village. The views from the bedroom terraces to the south include the ski area, Gold Hill and Palmyra Peak, while the suites looking north capture views of the La Salle Range and the entire San Sophia Ridgeline with its frequent alpenglow displays. The western view from the primary bedroom terrace is the iconic Wilson Peak.
“It is this astounding assemblage of views from every terrace and patio of the home that must be absorbed fully to recognize the rarity of the home's special setting.”
With over $1 billion in sales during the past year-plus, Demas doesn’t see the hot real estate market cooling off just yet.
“I do see this as a continuing trend throughout 2021, particularly for areas like Telluride that not only offer a remote location, but a magnificent one at that. As opportunities to own real estate in a market like this one continue to tighten and supply is snapped up, the demand seems to remain strong, even as prices continue to climb,” he said. “ … The elevated pulse was apparent throughout the real estate associated trades and beyond. Will this be the new normal or will the roiling waters calm?”