Posted on 2/10/2020 by Erik H. Reisner
As we predicted, 2019 was a record-breaking year for Total Dollar Volume here in the Mad River Valley! More and more people have discovered that this is the place to be!
This was further evidenced by the busiest Martin Luther King weekend for both Sugarbush Resort and Mad River Glen. Both ski areas reported record-breaking numbers.
We just received a much-welcomed major snowstorm with more in the forecast for the upcoming week. It’s a great time to get up here and play in the snow on your favorite toys, whether it be skis, snowboard, snowshoes, cross country, fat bike, or snowmobile.
Now onto the market update:
Currently there are 6 single family homes under contract or pending sale in the price range of $199,000 - $645,000 (same as this time last month), 5 condominiums under contract or pending sale priced from $65,000 - $245,000 (up from 3 last month), 3 undeveloped land parcels under contract or pending sale from $129,000 - $225,000 (down from 4 this time last month), and Zero commercial properties under contract (same as last month).
January 2020’s volume of single-family home sales dropped to 2 sales from $320,000 - $392,000 (8 sales in December 2019). Condo sales were also down slightly with 7 condominium sales from $57,000 - $560,000 (down from 10 sales in December). There were 2 undeveloped land sales from $95,000 - $165,000 in January (1 sale in December). There were no commercial sales in January (no sales in December).
The overall drop in sales is no surprise as 95% of sales in 2019 occurred after March 1st. However, the overall inventory is much lower this year. We will need to monitor this closely. If you are a potential seller, it’s a great time to consider listing your property. We’d be happy to conduct a complimentary market analysis so that you can make an informed decision.
If you are in the market for property here in the Mad River Valley let us know what you are looking for as we keep our finger on the pulse of the market. Also be prepared to act quickly, as recently listed inventory is selling fairly quickly.
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 December 31, 2019. As mentioned earlier total dollar volume was an all-time high, and the number of full-ownership units sold was the most in 14 years.
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.
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.