2024 July - Mad River Valley Real Estate Driven by Data

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Posted on 7/16/2024 by Erik H. Reisner

In Brief:

The summer season is in full swing here in the Mad River Valley. It’s steamy out there with high temperatures and high humidity. The famous Warren 4th of July Parade didn’t disappoint and was well attended despite the oppressive heat. Not long after that was the annual Mad Marathon which drew over 700 runners. Pretty impressive considering the heat. As we had hoped, inventory has increased a bit, not by a ton, but definitely a noticeable bump up in the number of active listings. In less than good news the northern part of the Valley and several other communities were ravaged with another intense flooding event.

Recreation and the forecast:

As mentioned above the weather has been a bit oppressive making prolonged outdoor activities less than pleasant. The swimming holes have been the place to be to cool down and maintain sanity. However, that temporarily came to a brief halt when a Hurricane Beryl literally barreled through parts of the Mad River Valley and beyond. The somewhat isolated devastation was a sad sight to see. Some areas will need time to rebuild and recover roads, bridges, homes, and farms. Always looking for the bright side, while these events are immensely disturbing, the resilience of this community is truly astounding. When the-you-know-what hits the fan; friends, neighbors and complete strangers come to the aid of each other. I have extreme gratitude to be part of this community.

Now onto the market update:

Currently there are 13 single family homes under contract or pending sale in the price range of $79,900 - $2,100,000 (up from 9 last month, and same as 6 two months ago), 9 whole-ownership condominiums under contract or pending sale priced from $195,000 - $580,000 (up from 7 last month and down from 11 two months ago), 2 undeveloped land parcels under contract priced from $199,000 -$225,000 (down from 3 last month, and 4 two months ago), and 1 commercial properties under contract (ZERO last month, and ZERO two months ago).

Regarding the properties that are currently under contract, 4 of the 8 condos and 5 of the 10 single family homes were listed after June 1, 2024. Properly priced properties are continuing to move very quickly.

There were 3 single family home sales in June 2024 from $203,500 - $1,450,000 (down from 2 sales in May). There were 8 whole-ownership condominium sales from $108,000 - $1,100,000 (up from 6 sales in May). There was 1 undeveloped land sale in June for $99,000 (up from 3 sales in May). There were ZERO commercial sales in June (ZERO sales in May as well).

Our Take on the Central Vermont Real Estate Market:

Are you in the market for a property here in the Mad River Valley and beyond? If so, the pros at MRVRE are here to help you stay informed with our fingers on the pulse of the real estate market.  Stay tuned for our Valley Views Blog Post later this month that will address the new Property Transfer Tax on second home buyers. Not good news, but a good read! Call, email, or text now so that we can learn about your property search needs and help you stay informed.

The current inventory in the Mad River Valley is up to 17 single family homes (down from 12 this time last month), there are 8 whole-ownership condominiums (8 this time last month too), there are 24 undeveloped land parcels (12 this time last month), and 7 commercial properties (5 last month as well). The jump in land listings is the biggest take away, followed by single family homes.

Have you been on the fence wondering when the best time might be to sell your Vermont property?  That time has come my friend! Reach out to us and we’ll help you get a premium price for your property. 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: 

Due to “technical difficulties” our MRVRE graphs aren’t available this month. We hope to have them back next month as we love to provide you with as much data as possible! 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.