Posted on 7/16/2020 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.
We are in the thick of a RED-HOT SELLERS MARKET! Both in-state and out-of-state buyers are actively seeking properties in the more rural areas of New England, and the Mad River Valley is definitely a sought-after location now more than ever.
The MRVRE Team continues to follow strict and specific guidelines as to how we operate within our office and with the general public. All agents and buyers are required to fill out a Real Estate Access Questionnaire to confirm that they meet the current guidelines as written by the Vermont Association of Realtors.
Before coming to Vermont, please call or email us to ensure that you meet the criterial to access real estate in Vermont. We’d love to see you, but also do not want to have to turn you away.
Now onto the market update:
Currently there are 28 single family homes under contract or pending sale in the price range of $234,900 - $1,495,000 (up from 20 last month, and 13 two months ago), 16 condominiums under contract or pending sale priced from $100,000 - $830,000 (up from 7 last month, and 3 two months ago), 10 undeveloped land parcels under contract or pending sale from $89,000 - $295,000 (up from 6 each of the past two months), and Zero commercial properties under contract (same as last month).
There were 5 single family home sales in May 2020 from $340,000 - $640,000 (down from 11 sales in April). Condo sales dropped with 3 condominium sales from $115,000 - $570,000 (down from 5 sale in April). There were 2 undeveloped land sales in May of 2020 (up from 0 sales in April). There were no commercial sales in April (no sales in March).
We saw this coming, but the month-to-month increase in homes and condos going Under Contract is really keeping real estate agents and buyers on their toes!
More often than not we are seeing multiple offers, and often within hours/days of the properties being listed. Inventory remains very low with seemingly increasing buyer demand. We are here for buyers to show property in-person, virtually, or by recorded video. Buyers need to be prepared to act swiftly, and everyone at MRVRE is equipped and ready to jump when called.
Sellers, if you are at all considering selling. NOW IS THE TIME! This bubble could burst at any time. You do not want to look back and regret taking advantage of the one of the hottest seller markets we’ve ever seen. Reach out to us by phone, email, or inquire on MRVRE.com.
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 April 30, 2020.
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.