Posted on 10/19/2020 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.
As I type this the first dusting of snow has fallen in the higher elevations. “Stick Season” is upon us, which is generally when the real estate market tends to cool down with the temperatures. That may be the case this year, but seemingly only due to the lack of good inventory.
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 COVID Certification to confirm that they meet the current guidelines as written by Agency of Commerce and Community Development (ACCD).
Before coming to Vermont, please call or email us to ensure that you meet the criteria 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 26 single family homes under contract or pending sale in the price range of $233,000 - $1,950,000 (down from 34 last month, and 33 two months ago), 21 condominiums under contract or pending sale priced from $75,000 - $995,000 (down from 30 last month, and 22 two months ago), 19 undeveloped land parcels under contract or pending sale from $60,000 - $450,000 (up from 11 last month, and 14 two months ago), and Zero commercial properties under contract (same as last month). Technically there are 3 commercial properties listed as being under contract, however all three are also listed in the residential category and are being sold as such.
There were 14 single family home sales in July 2020 from $234,900 - $1,200,000 (up from 7 sales in June). There were 4 condominium sales from $65,000 - $330,000 (4 sales in June as well). There were 2 undeveloped land sales in July of 2020 from $99,000 - $200,000 (down from 4 sales in June). There were no commercial sales in July (no sales in June).
In both the residential and condo markets there continues to be more inventory under contract than there is available to purchase! That’s the second month in a row! Sellers: This is an opportunity to take advantage of the biggest Seller’s Market we’ve seen in years, possibly ever! It is rare for sellers to put their property on the market this time of year. However, there is definitely opportunity and it is easy to stand out in a market with so little inventory.
There is no time like the present to get your property on the market. Give us a call or reach out to us via email or directly on MRVRE.com. We are ready, willing, and able to answer any questions you may have.