2020 Driven by Data
Posted on 1/26/2021 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.
2020 made its mark on a number of fronts, that’s for sure. I will go in the record books as one of the hottest seller’s markets ever despite the real estate industry being shut down for a few months. What will happen in 2021? Time will surely tell…
It was a slow start to the ski season with very little natural snow. Luckily that changed over the Martin Luther King weekend with snow accumulation totals ranging from 17-21” across the Mad River Valley. Now both of Sugarbush Resort’s peaks and Mad River Glen are 100% open with very happy skiers and riders.
Now onto the market update:
Currently there are 9 single family homes under contract or pending sale in the price range of $260,000 - $889,500 (down from 11 last month, and 24 two months ago), 8 condominiums under contract or pending sale priced from $83,500 - $219,500 (there were 8 last month, and 22 two months ago), 19 undeveloped land parcels under contract or pending sale from $49,500 - $295,000 (up from 16 last month, and 20 two months ago), and Zero commercial properties under contract (same as last month).
There were 18 single family home sales in October 2020 from $195,000 - $1,895,000 (up from 16 sales in September). There were 23 condominium sales from $105,000 - $750,000 (up from 14 sales in September). There were 9 undeveloped land sales in October of 2020 from $60,000 - $375,000 (up from 3 sales in September). There were no commercial sales in October 2020 (no sales in September).
October 2020 clearly saw a late-selling-season surge. Our typical selling season begins to wane as the leaves fall off the trees. Well, the leaves are all gone and we were blessed with an abundance of snow! Inventory remains at historic lows, and there are still buyers out there. With that in mind, there is no reason to wait until spring if you are contemplating selling your property.
If you are a potential seller, now is the time to contact Mad River Valley Real Estate for a complimentary market analysis. Give us a call or reach out to us via email or directly via MRVRE.com. We are ready, willing, and able to answer any questions you may have.
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 October 31, 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.
