2024 November - Mad River Valley Real Estate Driven by Data

Posted on 11/14/2024 by Erik H. Reisner

In Brief:

We’re fast approaching the holiday season and waiting for the temperatures to drop to allow for what we always hope for: a winter filled with snow! Sugarbush has started making snow and they are putting the finishing touches on the new Heaven’s Gate Quad. Mad River Glen is also hard at work prepping for ski season with a new haul rope and newly installed mid-station for the Sunny Side Double chair. Retail and lodging businesses are gearing up for winter and the real estate market is still seeing some fairly robust activity despite this historically being a slow time of year.

Recreation and the forecast:

We’re now in the heart of hunting season, an annual right of passage for many locals to hopefully harvest some game to stock the freezer for the long winter. Please be respectful and wear the appropriate colors to make sure you and your pets are visible if you are out in the woods. Overall, it’s been unseasonably warm, which makes it easy to still get outside and recreate, but hard for the ski areas to start making snow. Sugarbush has taken advantage of the colder temperatures on the few days and nights that the needle has dipped below the freezing mark. Historically, Sugarbush tries to be open by Thanksgiving, but this year the holiday falls later than normal. So, they hope to be open by 11/23 this year. There has been some accumulation of snow at higher elevations, let’s hope that keeps on coming!

Now onto the market update:

Currently there are 8 single family homes under contract or pending sale in the price range of $79,900 - $1,800,000 (up from 6 last month, and down from 9 two months ago), 11 whole-ownership condominiums under contract or pending sale priced from $216,000 - $549,000 (up from 8 last month and 5 two months ago), 2 undeveloped land parcel under contract priced from $225,000 - $285,900 (up from 1 last month, and down from 3 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, 8 of the 11 condos and 2 of the 8 single family homes were listed after October 1, 2024. So, clearly there are still active buyers with their finger on the pulse of new listings.

Based on information from PrimeMLS, Inc. for the period 1/1/2024 through 10/31/2024.

There were 5 single family home sales in October 2024 from $405,000 - $1,150,000 (up from 3 sales in September). There were 5 whole-ownership condominium sales from $128,200 - $630,000 (up from 3 sales in September). There were 2 undeveloped land sales in October from $237,000 - $272,000 (2 sale in September as well). There were ZERO commercial sales in October (ZERO sales in September as well).

Based on information from PrimeMLS, Inc. for the period 9/1/2024 through 10/31/2024.

Our Take on the Central Vermont Real Estate Market:

The current inventory in the Mad River Valley is up to 28 single family homes (26 this time last month), there are 11 whole-ownership condominiums (up from 10 this time last month), there are 21 undeveloped land parcels (25 this time last month), and 6 commercial properties (6 last month as well). The trend for the past few months shows that we are starting to see more inventory linger on the market, and interesting in the increase in new single family home listings during a time of year when we generally see less new inventory coming to market.

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 October 31, 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 October 31, 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 9/1/2024 through 10/31/2024.

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.