By Erik H. Reisner
Currently there are six single-family homes under contract or pending sale in the price range of $79,900-$850,000 (up from four last month, and five two months ago), seven condominiums under contract or pending sale priced from $165,000-$1,350,000 (down from eight last month, and six two months ago), seven undeveloped land parcels under contract from $130,000-$395,000 (up from four last month, and seven 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, six of the seven condos, three of the six single-family homes, and one of the seven land parcels were listed after April 1. This shows that there are still lots of active buyers, and they are reacting quickly to new inventory opportunities
There were zero single-family home sales in February 2023. There were five condominium sales from $117,000-$925,000 (up from three sales in January). There were zero undeveloped land sales in February of 2023 (zero sales in January as well). There were zero commercial sales in February 2022 for $650,000. (One sale in January.)
Spring in Vermont is when we typically start to see more inventory come on the market. The snow has melted, the mud has dried up, the grass is green, and the leaves and flowers are blooming. So now real estate agents can start to get some attractive exterior photos to feature. We likely will not see enough new inventory to satisfy the demand, so be prepared for a competitive buying market this spring/summer.
The current inventory in the Mad River Valley is up to five single-family homes (four this time last month), whole-ownership condos are down to four (seven this time last month), there are 10 undeveloped land parcels (12 this time last month), and four commercial properties (three last month). That is 23 active listings across all sectors, 26 this time last month. In contrast, in the past calendar year there have been 70 single-family home sales, 72 condo sales, and 23 land sales.
CUT HERE IF NOT ENOUGH ROOM FOR FINAL TWO CHARTS
Historical Mad River Valley Real Estate to February 28, 2023
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 February 28, 2023.