Here’s an update on the state of the real estate market in the Mad River Valley from Mad River Valley Real Estate’s Erik Reisner.
Currently there are six single-family homes under contract or pending sale in the price range of $79,900 - $1,600,000 (down from nine last month, up from 11 two months ago), 11 whole-ownership condominiums under contract or pending sale priced from $97,500 - $1,169,000 (up from 10 last month and eight two months ago), four undeveloped land parcels under contract priced from $99,000 - $225,000 (four last month as well, and four 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 11 condos and one of the six single-family homes was listed after April 1, 2024. So, while this is historically a slow time of year for real estate sales, there are still many active buyers in the marketplace.
There were six single-family home sales in April 2024 from $220,000 - $1,201,000 (up from four sales in March). There were six condominium sales from $275,000 - $700,000 (six sales in March as well). There were two undeveloped land sales in April from $925,000 - $5,260,000 (2 sales in March as well). There were zero commercial sales in April (zero sales in March as well).
The current inventory in the Mad River Valley is down to eight single-family homes (nine this time last month), whole-ownership condominiums are down to six (nine this time last month), there are 14 undeveloped land parcels (15 this time last month), and four commercial properties (four last month as well). That is 32 active listings across all sectors, down from 37 this time last month. In contrast, in the past calendar year there have been 67 single-family home sales, 61 condominium sales, and 21 land sales.
