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2019 Driven by Data

Posted on 1/20/2020 by Erik H. Reisner

 

This blog post will be updated on a monthly basis to track year-to-date real estate sales in the Mad River Valley. The data is gathered from the State Property Tax Transfer records and includes all sales above $20,000. 

The Mad River Valley experienced a very busy holiday season. The ski areas and local businesses we’re packed with new and repeat visitors. Then on Sunday January 5th there was a fire at Infinite Sports. Luckily there were no injuries and the fire departments were able to save the building. However, Infinite Sport’s contents were a total loss, and Mehuron’s Supermarket will be closed until March. 

On a brighter note, after a bad “January Thaw” we were gifted with two sizeable snow storms just in time for the Martin Luther King weekend. We don’t have any hard numbers, but based on the overflowing parking lots at Sugarbush’s Lincoln Peak, Mt. Ellen, and Mad River Glen; we wouldn’t be surprised if record skier visit numbers were set.

Currently there are 6 single family homes under contract or pending sale in the price range of $325,000 - $645,000 (down from 9 this time last month), 3 condominiums under contract or pending sale priced from $120,000 - $449,000 (down from 8 last month), 4 undeveloped land parcels under contract or pending sale from $129,000 - $225,000 (down from 5 this time last month), and Zero commercial properties under contract (same as last month).

December 2019’s volume of single-family home sales dropped to 8 sales from $219,250 - $610,000 (11 sales in November). Condo sales were also down a tick with 10 condominium sales from $63,000 - $322,500 (down from 14 sales in November). There was only 1 undeveloped land sales for $119,000 in December (1 sale in November). There were no commercial sales in December of 2019 (no sales in November).

The decrease in sales is not surprising as there are always fewer sales this time of year. However, it is further compounded by low inventory of single-family homes and condominiums. So if you are contemplating selling your property in the Mad River Valley, now is a great time to have us complete a complimentary market analysis as we are in a “Seller’s Market.”

Below are two graphs that show the total number of units sold (single family homes, condominiums, commercial properties, undeveloped land), as well as the total dollar volume through November 30, 2019.  The total dollar volume is approaching an all-time record high, which will clearly be broken as soon as the transfer tax data from December 2019 comes in. The total number of units sold is higher than every year since 2006, which included 125 Clay Brook Quarter-Share sales. This is great news for sellers as we are seeing a continuing trend of property values rising, and there are buyers out there that are ready, willing and able to purchase.

Whether you are a potential buyer or seller, this data is a valuable resource to help you make informed real estate and financial decisions.

If you have any questions about these graphs, or anything real estate related; give Mad River Valley Real Estate a call, or send us an email.


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5513 Main Street, Waitsfield, VT 05673 | 802-496-5000 | www.mrvre.com