July 2025 Your Castle Real Estate Newsletter

A Telluride Retreat Fit for the Wellness-Minded Elite

One of the quirks of living in Colorado? Sharing your state with the ultra-wealthy who, time and again, find refuge among our mountains. Who can blame them? From hiking to skiing, wellness retreats to waterfalls, it’s easy to see why people come here to unwind, reset, and, sometimes, buy a $4 million home—then transform it into a $29.5 million wellness estate. Case in point: 236 Pandora Lane in Telluride, now on the market and drawing attention far beyond our state lines.

This particular property belongs to Elizabeth Cutler, co-founder of SoulCycle, longtime Colorado enthusiast, and CU Boulder alum. Purchased for just over $4 million in 2013, Cutler expanded both the home and the property’s vision over the years. Nestled among cliffs, waterfalls, and towering aspens, it’s now one of the most expensive homes listed in Telluride. The estate spans roughly five acres and includes a main residence along with a separate wellness sanctuary featuring a lap pool, sauna, steam room, and multiple spaces for yoga and meditation. Cutler describes the home as “deeply restorative, deeply relaxing”—a place where mornings involve journaling beside a waterfall and afternoons are spent skiing, hiking, or even mushroom hunting. (Source: Realtor.com)

Inside, the main home boasts seven bedrooms. Additions like a mudroom, game room, bunkroom, and guest suites were thoughtfully designed to maximize connection to the surrounding landscape. The sale also includes custom furnishings, a fleet of e-bikes, and even a tiny electric car with its own charging garage for easy trips into town. It’s a home created not just for living, but for retreating—a true sanctuary with every modern convenience, located just a mile from Telluride.

While this home is certainly an outlier in price and scale, it offers a fascinating glimpse into what draws people to Colorado’s small towns and wild landscapes. For Cutler, who split her time between New York City and Telluride, the property represented balance and restoration. As her children have grown and life has shifted, so too has her need for this particular slice of mountain luxury. Now, it’s time for a new owner to inherit the serenity she’s created here.

Stories like this may seem far removed from the Front Range’s more everyday market dynamics, but they’re a good reminder of what makes this state so magnetic: beauty, lifestyle, and the enduring pull of mountain air. Whether you’re looking for a home at $600,000 or $30 million, the reasons people choose Colorado tend to be the same.

What’s Normal, Anyway? Why Today’s Market Feels So Different

This summer, the Denver metro market is sending a clear message: we’re not in a frenzy anymore. Inventory is holding higher, the pace is slower, and for the first time in a long time, both buyers and sellers are finding space to think. That doesn’t mean things are easy—it just means they’re different. We’ve moved out of extremes, and that shift can feel more dramatic than it really is. The key to navigating right now is understanding that the rules have changed. Success hinges on working with the market we’re in—not the one we remember.

Inventory climbed again in June, though more gradually than in recent months—up just 3 percent from May to 14,007 active listings at month’s end. That brings us almost in line with the long-term June average of 15,125. From the outside, that might sound like a calm middle ground. But if you remember June 2021, when we saw just 3,122 listings, today’s market feels like a different planet. In reality, we’re just returning to something more typical. That opens up possibilities. Sellers are listing because they must—relocations, lifestyle changes, new jobs. Buyers are buying for the same reasons. The difference? For the first time in years, buyers have options and with those options, they’re also bringing higher standards. The best homes still move quickly and with competition. The rest? They wait.

Prices tell a similar story. Detached homes saw just a 0.13 percent increase in median price last month, rising to $665,895. Attached homes held flat at $400,000. On average, closed prices rose about 2 percent for both categories month-over-month, but attached homes are still lagging year-over-year, with a roughly 5 percent drop in average price. It’s not dramatic, but it is directional. We’re seeing fewer bidding wars and more price reductions—especially on properties that miss the mark in terms of condition, presentation, or pricing. The market isn’t correcting. It’s sorting itself out.

That sorting takes time. Homes spent an average of 37 days in the MLS in June—up 12 percent from the month before, and up 32 percent compared to last year. For sellers, that’s a hard adjustment. After years of lightning-fast sales, waiting more than a few weekends can feel like failure - it’s not. It’s just the market doing what markets do—especially at higher interest rates and price points. Buyers now have the time (and motivation) to be picky. That doesn’t mean homes aren’t selling. It just means the ones that sell quickly are checking every box—and those that aren’t, need to be priced accordingly.

As we move deeper into summer, we’re seeing the season itself influence behavior. Travel, heat, and busy calendars are always part of the July slowdown, and this year is no exception. That said, real opportunities still exist for buyers and sellers who are realistic, prepared, and willing to engage. For sellers, it may take more time and effort to find the right buyer. For buyers, it may take more vision to see potential in a home that isn’t perfect but has good bones. For everyone, the smartest move is one that’s responsive to where the market is now—not where it was three years ago.

For Sellers

If you're planning to sell this summer, go in with a clear understanding of the current pace. Average days on market are rising, and buyers have more homes to choose from. Pricing right out of the gate is more important than ever. If your home lingers, have a reduction plan ready—don't let emotion slow you down. The properties that succeed are the ones that show well, are priced to match the moment, and adjust early if needed. Remember: a longer sale timeline doesn't mean something's wrong. It just means we’re not in 2021 anymore.

For Buyers

This may not look like the buyer’s market you were hoping for, but that doesn’t mean it isn’t one. Affordability is improving in quieter ways: more negotiating room, increased seller flexibility, and a wider range of price points across the market. Many listings are spending more time on the market and sellers are more open to concessions or repairs. You may not win the deal on the best home by waiting—but if you're prepared and clear on your goals, you can secure a home with more leverage and less chaos than at any point in the last few years. Don't mistake a slower market for a stagnant one. The right opportunity might already be on the MLS—you just have to recognize it.