2024 October- Mad River Valley Real Estate Driven by Data
Posted on 10/15/2024 by Erik H. Reisner
In Brief:
And we are officially in the transition to “Stick Season!” The past few weeks offered a nice variety of colors for locals and tourists alike. Autumn is a special time of year in Vermont with mild, but cooling temperatures, and a kaleidoscope of colors in all directions. Lodging, restaurants, and retail stores are thankful for the surge of business that foliage season brings. The next several weeks some businesses take a break before the busy winter season starts. There is already reported snow at high elevations, and more in the forecast. So, buckle up, the winter ski and ride season will be here soon!
Recreation and the forecast:
As the leaves fall off the trees, there is still time to get out on the hiking and biking trails before snowshoes are needed. However, a word of caution, hunting season is nearly upon us. Some trails may be marked as closed, and if so, please respect those closures. In other areas, there may be no restrictions, but please understand, respect, proceed with caution, and wear appropriate clothing so that hunters can clearly see you from a distance (Blaze Orange is your friend!). As mentioned above, we’ve already seen some snowfall at high elevations, and there is more in the forecast this week. No “base building” dumps yet, but a sign of the times that we are transitioning into the winter recreation season.
Now onto the market update:
Currently there are 6 single family homes under contract or pending sale in the price range of $79,900 - $1,425,000 (down from 9 last month, and 15 two months ago), 8 whole-ownership condominiums under contract or pending sale priced from $160,000 - $505,000 (up from 5 last month and 5 two months ago), 1 undeveloped land parcel under contract at $237,000 (down from 3 last month, and 2 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, 5 of the 8 condos and 2 of the 6 single family homes were listed after September 1, 2024. So, as the market typically slows down as we head into Stick Season, there are still some active buyers ready to pounce at the right opportunity.
Based on information from PrimeMLS, Inc. for the period 8/1/2024 through 10/15/2024.
There were 3 single family home sales in September 2024 from $240,000 - $560,000 (down from 8 sales in August). There were 3 whole-ownership condominium sales from $314,000 - $516,000 (down from 4 sales in August). There were 2 undeveloped land sales in September from $160,000 - $245,000 (up from 1 sale in August). There were ZERO commercial sales in September (ZERO sales in August as well).
Based on information from PrimeMLS, Inc. for the period 8/1/2024 through 10/15/2024.
Our Take on the Central Vermont Real Estate Market:
The current inventory in the Mad River Valley is up to 26 single family homes (18 this time last month), there are 10 whole-ownership condominiums (7 this time last month), there are 25 undeveloped land parcels (21 this time last month), and 6 commercial properties (5 last month). 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.
Based on information from PrimeMLS, Inc. for the period 8/1/2024 through 10/15/2024.
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 September 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 September 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 8/1/2024 through 10/15/2024. 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.