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2023 September - Mad River Valley Real Estate Driven by Data

Posted on 9/14/2023 by Erik H. Reisner

In Brief:

If you don’t like the weather in New England, just wait a minute and it will change. Just kidding! Jeezum Crow, the amount of rain we’ve received this year is off the charts. That seems to be affecting the foliage season as the leaves have started to turn a few weeks early this year. The good news is that all of the snow making ponds are filled, and the temperatures are sure to drop in the coming weeks. Has the real estate market dropped off? Stay tuned…

Recreation and the forecast:

The kids are back in school (Yea!), and the season is changing. It’s been hard to get outside and play with so much rain, but we’ve also had our share of banner Vermont summer days to enjoy. You just need to be flexible with your time and shift your schedule to take advantage of the good days when you can. The same can be said for active buyers in this crazy real estate market. If something becomes available that appeals to you, guess what? It will likely be intriguing with many other buyers. So, if the right property becomes available, you may need to adjust your schedule to make it a priority to get into that property. While the market might cool as the temperatures drop, I wouldn’t count on it other than the possibility of fewer new listings as we approach winter.

Now onto the market update:

Currently there are 12 single family homes under contract or pending sale in the price range of $79,900 - $3,750,000 (up from 5 last month, and matching the 12 two months ago), 7 condominiums under contract or pending sale priced from $195,000 - $350,000 (down from 8 last month and 11 two months ago), 5 undeveloped land parcels under contract from $250,000 - $485,000 (down from 6 last month, and up from 3 two months ago), and 4 commercial properties under contract from $649,000 - $2,350,000 (ZERO last month, and ZERO two months ago).

Regarding the properties that are currently under contract, 3 of the 7 condos and 7 of the 12 single family homes were listed after August 1st. So, in general things are still moving briskly, and many buyers are still jumping at opportunities.

There were 9 single family home sales in June 2023 from $350,000 - $1,150,000 (up from 3 sales in May). There were 5 condominium sales from $92,500 - $612,000 (down from 9 sales in May). There were 3 undeveloped land sales in June of 2023 from $120,000 - $425,000 (3 sales in May as well). There was One commercial sale in June 2023 (ZERO sales in May).

Our Take on the Central Vermont Real Estate Market:

The market continues to be strong as evidenced by a 60% jump in single family homes under contract in the past month here in the Mad River Valley. For the most part the inventory number have been upside down this summer. That is, most of the time there was more inventory under contract than available for purchase. That has changed ever so slightly for single family homes with 13 on the market, and 12 under contract or pending sale. We will likely see a decline in the number of new listings as we approach winter as mentioned above. However, demand is still stronger than the current supply, and we don’t see how that will change anytime soon as there is very little speculative building happening in the local market.

Are you in the market for a property here in the Mad River Valley and beyond? If so, your friends at MRVRE are here to help you stay informed with our fingers on the pulse of the real estate market.

The current inventory in the Mad River Valley is up to 13 single family homes (10 this time last month), whole-ownership condominiums are down to 2 (5 this time last month), there are 10 undeveloped land parcels (11 this time last month), and 3 commercial properties (7 last month). That is 28 active listings across all sectors, 33 this time last month. In contrast, in the past calendar year there have been 65 single family home sales, 65 condominium sales, and 23 land sales.

Are you at all considering selling your Vermont property? If so, whether it’s a home, condo, land, or commercial property: WE WANT TO HEAR FROM YOU! What is your “Make Me Move price?” You very well may be able to achieve that dream or possibly more! SERIOUSLY, WE NEED TO TALK!

If you are a buyer actively searching in this ultra-competitive market, be sure to have your ducks in a row with your financing and down-payment. Or have some “creative” solutions to be able to waive a financing contingency. Also be sure to be connected with an agent who is ready, willing, and able to keep you in the loop as properties come to market. HINT, HINT, we’re really good at that!

Historical Mad River Valley Real Estate to June 30, 2023:

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 June 30, 2023. 

This blog post will be updated monthly 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.  Vermont Property Transfer Tax data is typically +/- 3 months behind as it takes time for all the towns to file the returns with the State. Therefore, we are reporting here on accurate sales data from 3 months prior.


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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