2025 - Mad River Valley Real Estate's Annual Market Recap

In spite of the disruptions and uncertainty on the national and world stage 2025 turned out to be an extraordinarily busy year for real estate in the Mad River Valley. Although market times increased overall, some of the more desirable properties continued to garner multiple offers within weeks or sometimes only days of coming to market. Meanwhile, the skiing at Sugarbush and Mad River Glen was great and the Sugarbush Golf Course was in fine condition all season. Now with 2025 in the rear view mirror we at Mad River Valley Real Estate MRVRE hope your 2026 is off to a great start! 

 

And speaking of start, the ski season in Vermont has been off to another great start! December was amazing, there’s been lots of consistent and steady snowfall, and at this point I think it’s safe to say there will be no January thaw. Even still it’s always good this time of year to exclaim “Bring on the snow!” And if your New Year’s resolution was to ski or ride more then you are probably already off to a great start.

2025 was another exciting and action-packed year at Mad River Valley Real Estate, and not just in the real estate realm. MRVRE continues to sponsor WiFi service to the public in the Bridge Street Marketplace, Mad River Valley Recreation Field, and Warren Village. If you struggle to get internet access during the Warren 4th of July Parade then make certain to sign onto the free Warren Village community wifi. It’s easy!

 

MRVRE also continues to sponsor the Mad River Glen Webcam which is the place to go for what the weather is like at Mad River Glen Ski Resort.  Three webcam locations throughout the mountain give you a great look at what’s going on in real time. And right now Mad River Glen is working on the deal of the century in triggering a Right of First Refusal to purchase 1,100 acres and the 19th and 20th hole.  Mad River Valley Real Estate donated a dollar per acre and we hope you join us in making a donation today!  Stark Mountain Foundation

We are especially thankful for the way Sugarbush Resort and Mad River Glen are taking such great care of their customers all year.  So many friendly and smiling faces and it’s always great fun interacting with the international employees!  Buenas dias a todos! Thanks also go to the many local businesses who have been warmly welcoming the many guests who come to our little slice of paradise. And especially to Shaws and Mehurons markets for keeping the shelves stocked with groceries. And as always a big thanks to Waitsfield Telecom for providing us with always reliable internet service.

If hindsight is 2020 then despite the pandemic (or perhaps because of it) Mad River Valley Real Estate could not have been busier, nor better prepared! Overall real estate values rose quite rapidly over the past five years (literally since 2020). And staying on top of it all was no easy feat.  When the numbers finally settle out 2025 will be slightly down from the 2021 record volume of real estate sales in the Mad River Valley, but still a very strong showing and with a few eye-popping sales.

The partners at MRVRE have a long history of participating in extraordinary real estate transactions and community service, and 2025 was no exception. Following are a few highlights:

 

Partner Steve Robbins continued to provide operational support at MRVRE while successfully closing many sales including a few more complex transactions. Several transactions were with loyal repeat customers and clients. In three transactions Steve represented sellers while working directly with unrepresented buyers. This is becoming more commonplace in the local real estate market, (especially with the proliferation of inexperienced real estate agents). Steve’s most memorable sale last year included a sizable maple sugaring operation, which in Vermont is about as sweet as it gets! Steve also celebrated the 30th anniversary of working with fellow MRVRE partner David Dion for the entirety of his real estate career. Congratulations to both on this exceptional run!

 

MRVRE partner Erik Reisner was once again the highest-ranked real estate agent in Washington County for total dollar volume of sales in 2025.  This marks the fourth time in the past five years Reisner has held the top spot. In the Mad River Valley Erik also led the region in both total sales volume and number of units sold for the eighth consecutive year (Prime MLS, 01/01/2018–12/31/2025).

 

In addition to his real estate work, Erik is a tireless volunteer with the Mad River Valley Ambulance Service where he has served for 18 years. In 2025, Erik responded to more than 85 emergency calls, providing care to residents and visitors throughout the valley. We are so very fortunate to have volunteers like Erik in our community.

 

Partner David Dion continues to keep the “back of the house” at MRVRE running smoothly while continuing to participate in select real estate projects. Despite claiming to be retired it’s hard to say no when a loyal past client calls. When not selling real estate, David continues to make great progress on his farm and eco-lodge in the Turrubares Mountains of Costa Rica. However, the latest challenge was a washout coffee harvest due to historic rains in the region last fall. Climate change is everywhere but we are hoping for a better harvest in 2026.

Most importantly, we at MRVRE were blessed with our many loyal and supportive clients and forged many wonderful new relationships in 2025. To all who helped MRVRE along the way, a huge THANK YOU!

Following is a recap of the 2025 real estate market based on MLS reported real estate sales in the Mad River Valley towns of Fayston, Moretown, Waitsfield and Warren, (source: Northern New England Real Estate Network, Inc. for the period 01/01/25 – 12/31/25). Please call or write if you are interested in a recap of real estate data and trends in specific areas outside of the Mad River Valley.

 

In 2025 there were a total of 176 MLS reported real estate sales (up from 147 sales in 2024, 148 sales in 2003, 197 sales in 2022, 278 sales in 2021, and 284 sales in 2020). Clearly the overall real estate market in the Mad River Valley is on the backside of the 2020 peak as relates to number of sales.  However, that should be no surprise given the unprecedented run-up in sales prices over the past five years.  But it’s also the result of simply not having enough inventory on the market at any given point in time. Of course, we are always looking for more real estate inventory so please don’t hesitate to call or write!

Drilling into the specifics, there were 87 single family residential sales ranging from $75,000 to $2,452,200 (up from 52 sales in 2024, 59 sales in 2023, 74 sales in 2022, 104 sales in 2021, and 117 sales in 2020).

 

01 @   < $100,000 (00 sales in 2024, 00 sales in 2023, 01 sales in 2022, 01 sales in 2021) 

02 @      $100,000 - $199,000 (00 sales in 2024, 03 sales in 2023, 01 sales in 2022, 03 sales in 2021)

03 @      $200,000 - $299,000 (04 sales in 2024, 02 sales in 2023, 03 sales in 2022, 15 sales in 2021)

04 @      $300,000 - $399,000 (02 sales in 2024, 02 sales in 2023, 06 sales in 2022, 17 sales in 2021)

12 @      $400,000 - $499,000 (12 sales in 2024, 05 sales in 2023, 13 sales in 2022, 12 sales in 2021)

06 @      $500,000 - $599,000 (07 sales in 2024, 06 sales in 2023, 14 sales in 2022, 15 sales in 2021)

16 @      $600,000 - $699,000 (04 sales in 2024, 09 sales in 2023, 10 sales in 2022, 09 sales in 2021)

08 @      $700,000 - $799,000 (06 sales in 2024, 08 sales in 2023, 05 sales in 2022, 05 sales in 2021)

14 @      $800,000 - $999,000 (07 sales in 2024, 04 sales in 2023, 12 sales in 2022, 10 sales in 2021)

21 @ >$1,000,000 (17 sales in 2024, 09 sales in 2023, 09 sales in 2022, 17 sales in 2021)

68 condominium sales ranging from $100,000 to $1,200,000 down from 76 sales in 2024, 65 sales in 2023, 81 sales in 2022, 109 in 2021, and 118 sales in 2020)

 

00 @    < $100,000 (00 sales in 2024, 01 sales in 2023, 05 sales in 2022, 08 sales in 2021)

07 @       $100,000 - $199,000 (14 sales in 2024, 14 sales in 2023, 21 sales in 2022, 40 sales in 2021)

17 @       $200,000 - $299,000 (16 sales in 2024, 17 sales in 2023, 10 sales in 2022, 32 sales in 2021)

15 @       $300,000 - $399,000 (21 sales in 2024, 10 sales in 2023, 10 sales in 2022, 11 sales in 2021)

09 @      $400,000 - $499,000 (09 sales in 2024, 09 sales in 2023, 10 sales in 2022, 08 sales in 2021)

17 @       $500,000 - $799,000 (14 sales in 2024, 11 sales in 2023, 21 sales in 2022, 07 sales in 2021)

03 @    > $800,000 (02 sales in 2024, 03 sales in 2023, 04 sales in 2022, 03 sales in 2021)

20 land sales ranging from $39,900 to 695,000 (up from 18 sales in 2024, 21 sales in 2023, 37 sales in 2022, 56 sales in 2021, and 49 sales in 2020.

 

 02 @   < $100,000 (03 sales in 2024, 03 sales in 2023, 04 sales in 2022, 18 sales in 2021)

 06 @      $100,000 - $199,000 (04 sales in 2024, 06 sales in 2023, 14 sales in 2022, 18 sales in 2021)

 06 @      $200,000 - $299,000 (07 sales in 2024, 05 sales in 2023, 08 sales in 2022, 11 sales in 2021)

 02 @      $300,000 - $399,000 (01 sales in 2024, 05 sales in 2023, 04 sales in 2022, 05 sales in 2021)

 00 @     $400,000 - $499,000 (00 sales in 2024, 02 sales in 2023, 04 sales in 2022, 01 sales in 2021)

 04 @     >$500,000 (03 sales in 2024, 00 sales in 2023, 03 sales in 2022, 04 sales in 2021)

01 commercial sales, (01 sales in 2024, 03 sales in 2023, 05 sales in 2022, 09 sales in 2021).

 

Following is a graph depicting the Total Dollar Volume of Sales and Total Units Of Sales in the Mad River Valley. (Note this graph includes ALL sales recorded including MLS recorded sales and Non-MLS recorded sales).

 

Ok so here is our take on these statistics.  First, as stated above the total number of sales are down slightly from 2020 and 2021. However, the local real estate market in the Mad River Valley continues to be very active.  Yes, the number of overall sales has dipped, but this is simply a function of fewer properties coming on the market at any given point in time.  Indeed, the great majority of properties that do come on the market continue to enjoy a great deal of buyer interest. And we are continuing to experience very competitive multiple offer situations.

Second, the over $1mm market in 2024 was the most active in the history of keeping track of these statistics with 22 sales (21 residential sales and 1 condominium sale). Historically, the number of residential sales at over $1mm (or even over $800,000) has been very low with as few as 3 sales in 2017 and 2018.  Finally, after all these years we have a healthy luxury market here in the Mad River Valley!

 

Similarly, the number of condominium sales at over $500,000 has increased from only 06 sales in 2014 to 16 in 2025. This tells us the higher priced properties are becoming a more dominant segment of our market, and perhaps for the first time in the history of recorded real estate sales. What does this translate to? If you are the owner of a higher value property in the Mad River Valley, then there quite literally has never been a better time to sell.

The commercial and hospitality (lodge, B&B, Inn, restaurant) market is perhaps showing the greatest weakness in sales.  For example, the former Blue Stone Restaurant located at the intersection of Route 17 and Route 100 closed in September at only $675,000. As a result, this segment of the market continues to offer some of the very best buying opportunities.    

We are also continuing to notice a curious trend over the past few years wherein many transactions are not including a financing contingency. Where is everyone getting all this cash? 

Ok enough with the past. Now let’s talk about what is going on today.

Presently there are 25 single family residential properties for sale in the Mad River Valley (down from 34 properties at this time last year). Six of those 25 properties are currently under contract of sale. However, it is not unusual to have a low inventory of single-family properties for sale at this time of year.  

 

Today there are 29 condominiums for sale (up from 16 condominiums for sale at this time last year) and with 09 of those 29 units under contract of sale. Inventory in this segment of the market is clearly growing.

 

There are currently 19 parcels of land for sale and with 05 parcels under contract of sale. The inventory in this segment of the market has been slowly growing over the past few years.  

 

 

Our overall take on what’s happening today is inventory continues to slowly grow after the buying frenzy of 2020 and 2021, and the market times are increasing. Are over-priced properties sitting on the market or is it possible a real estate market retreat is on the horizon? Give us a call and we will be happy to share our thoughts.

 

Whether it’s a seller’s market or a buyer’s market the best opportunities for sale include a desirable location, good overall condition, and realistic pricing.  By contrast if you are in a less desirable location, with a lot of deferred maintenance and you are asking a premium price, then in that event you should expect your property to be for sale for a very long while.

 

Clearly those who are best informed are making the most prudent buying and selling decisions in the Mad River Valley. And it’s no coincidence that at MRVRE our clients are realizing some of the best purchase and sale opportunities ever in the Mad River Valley.  

 

Please check out the blog page on our website to see more in-depth analyses and some very insightful graphs depicting the Mad River Valley real estate market. What sets us apart from the competition is we don’t just wing it when it comes to pricing. Instead, we take the time to do the research so you can be better informed. When you are better informed you make better decisions.

 

From all of us at MRVRE best wishes for a happy, healthy, and prosperous 2026!