Posted on 11/13/2019 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 had an amazing foliage season with lots of color and many visitors. Alas the leaves have fallen, and so has some snow! We’ve been graced with some natural snow, and both Sugarbush and Mad River Glen have started making snow in order to get the slopes open for business ASAP. Real estate activity has slowed a bit as anticipated, but we’re still seeing some listings coming on, and there still appear to be some buyers looking to purchase.
Currently there are 17 single family homes under contract or pending sale in the price range of $225,000 - $825,000 (down from 21 this time last month), 12 condominiums under contract or pending sale priced from $59,000 - $985,000 (down from 23 last month), 4 undeveloped land parcels under contract or pending sale from $55,000 - $129,000 (down from 5 this time last month), and Zero commercial properties under contract (down from 2 last month).
October 2019 experienced a small surge of single family home sales with 11 sales from $221,500 - $2,200,000 (up from 6 sales in September), including 2 sales north of a Million! Condo sales rose a bit with 13 condominium sales from $77,700 - $520,000 (up from 10 sales in September). There were 3 undeveloped land sales from $93,000 - $275,000 in September (down from 5 sales) There was one commercial sale in October of 2019 (no sales in September).
Our stick season may be a short one with snow in the forecast. The real estate market tends to slow as we approach the holiday season, but there are clearly opportunities to buy and sell in what is turning out to be a strong sales year for the Mad River Valley.
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 September 30, 2019.
The total units sold appear to be tracking at just below last year’s level, but the total dollar volume is likely to exceed last year’s level. This is good news for sellers because overall it indicates continually rising property values. And anecdotal evidence from sales this year suggests property values are indeed continuing an upward trend.
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.