2024 December - Mad River Valley Real Estate Driven by Data
Posted on 12/15/2024 by Erik H. Reisner
In Brief:
Happy Holidays! The mountains received a decent amount of snow over the past few weeks which was on everyone’s wish list. Last weekend Mad River Glen opened with top to bottom skiing, while Sugarbush was limited to the Gate House lift. That’s the first time I recall MRG being open to the summit before Sugarbush, but my memory could be fuzzy… The Christmas holiday is on a Wednesday this year, so not sure which weekends will have more Mad River Valley fans flocking to the mountains. Hopefully both weekends will be equally busy for both mountains and retail/lodging establishments. Our phones are still ringing, so the real estate market remains healthy.! Wishing you and yours a happy, safe, and healthy Holiday Season.
Recreation and the forecast:
Although we did receive a fair amount of snow, it was soon followed by a significant rain event. The prognosticators were a bit concerned about flooding, but luckily it didn’t warm up as much as predicted, so there was less melt which we are all thankful for. The rain also helped replenish the snow making ponds for Sugarbush, so there is another silver lining! The temperatures dropped quickly which allowed them to get the snow guns back on full tilt which opened some much-needed terrain this weekend. The long-term forecast has a mix of good and bad on the horizon, lets all hope the temperatures stay below the freezing mark and more snow comes to blanket the Valley for a white Christmas and lots of good skiing and riding.
Now onto the market update:
Currently there are 7 single family homes under contract or pending sale in the price range of $79,900 - $750,000 (down from 8 last month, and matching 6 homes two months ago), 8 whole-ownership condominiums under contract or pending sale priced from $195,000 - $549,000 (down from 11 last month and 8 two months ago), 3 undeveloped land parcel under contract priced from $165,000 - $285,900 (up from 2 last month, and 1 two months ago), and ZERO commercial properties under contract (ZERO last month, and ZERO two months ago).
Regarding the properties that are currently under contract, 6 of the 8 condos and 4 of the 7 single family homes were listed after November 1, 2024. Some buyers are still chomping at the bit late in the selling season!
Based on information from PrimeMLS, Inc. for the period 10/1/2024 through 12/15/2024.
There were 4 single family home sales in November 2024 from $560,000 - $1,525,000 (down from 5 sales in October). There were 8 whole-ownership condominium sales from $208,000 - $515,000 (up from 5 sales in October). There were Zero undeveloped land sales in November (2 sales in October). There were ZERO commercial sales in November (ZERO sales in October as well).
Based on information from PrimeMLS, Inc. for the period 9/1/2024 through 11/30/2024.
Our Take on the Central Vermont Real Estate Market:
The current inventory in the Mad River Valley is down to 26 single family homes (28 this time last month), there are 6 whole-ownership condominiums (down from 11 this time last month), there are 19 undeveloped land parcels (21 this time last month), and 6 commercial properties (6 last month as well). While things tend to be fairly quiet for the real estate market during this pre-holiday season, we are still seeing some activity. Moving in the winter for some properties can be less than ideal due to weather conditions. So, we do tend to see a bit of a lull for the next few months. But that’s OK, maybe I’ll get some more skiing in this season!
Based on information from PrimeMLS, Inc. for the period 10/1/2024 through 12/15/2024.
Are you in the market for a property here in the Mad River Valley and beyond? If so, the partners at MRVRE have more than 80 years of combined experience in helping buyers and sellers navigate the local real estate market, Call, email, or text now so that we can learn about your property search and help you stay informed.
Have you been on the fence wondering when the best time might be to sell your Vermont property? Allow us to provide you with a complimentary market analysis to see if it makes sense for you. No pressure!
If you are a potential buyer, make sure you are tracking activity, or better yet contact us at (802) 496-5000 or info@mrvre.com and we can help you do that! Also make sure your finances are in order so that you can be poised to make a competitive offer, with or without financing. We can also help you find the right lender if needed. Check out our Lender Resources Page.
Historical Mad River Valley Real Estate to November 30, 2024:
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 November 30, 2024.
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 of Vermont Property Tax Transfer records and includes all sales above $20,000
Based on information from PrimeMLS, Inc. for the period 1/1/2024 through 11/30/2024.
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, real estate related or otherwise, give Mad River Valley Real Estate a call or send us an email.