First published on March 21, 2024
Currently there are 13 single-family homes under contract or pending sale in the price range of $79,900 - $2,595,000 (up from six last month, nine two months ago), nine whole-ownership condominiums under contract or pending sale priced from $300,000 - $700,000 (up from seven last month and seven two months ago), five undeveloped land parcels under contract priced from $225,000 -$10,000,000 (zero last month, and two 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, five of the nine condos and three of the 13 single-family homes were listed after February 1, 2024. While it’s historically a slower time of year for sales, there are clearly still active buyers in the marketplace, and many are acting quickly.
There were four single-family home sales in February 2024 from $625,000 - $2,540,000 (four sales in January as well). There were three condominium sales from $189,000 - $575,000 (down from six sales in January). There was one undeveloped land sale in February for $855,000 (one sale in January as well). There were zero commercial sales in February (zero sales in January as well).
Central Vermont Real Estate Market
There continues to be a lack of supply in the Mad River Valley and across the state. There are currently 838 single-family homes for sale in the entire state of Vermont. In the last year there have been 5,375 single-family home sales. In a "normal" market, there should be a three-month's supply of homes.
The current inventory in the Mad River Valley is down to 10 single-family homes (13 this time last month), whole-ownership condominiums are up to 13 (five this time last month), there are 14 undeveloped land parcels (17 this time last month), and four commercial properties (four last month as well). That is 41 active listings across all sectors, up from 39 this time last month. In contrast, in the past calendar year there have been 62 single-family home sales, 57 condominium sales, and 23 land sales.
Reisner is a broker and managing partner at Mad River Valley Real Estate.
