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Blog :: 03-2012

Killington Real Estate Sales - January 2012

Sales in January 2012 were off a bit from December 2011. There were 7 transactions in Killington in January 2012, comprised of 5 condominium sales and 2 residential purchases. The condo sales included two quarter-shares at the Killington Grand Hotel, a 1BR at Mountain Green, a 1BR with loft at Pico Village Square for just $35,000 and an exceptional Winterberry townhouse for $396,750. Exclusive of the interval ownership units, the median price remained strong at $225,000 - the best figure since May 2011.

Click the link below to see all the homes and condos that sold in January 2012:

January 2012 Sales

Comments

  1. Andrew Yurchuck on

    Do you think the warm weather in the mid atlantic states effected sales?
    • Kyle Kershner on

      Sales have been strong in spite of this year's weather anomalies. Because transactions take about 4-6 weeks to go from pending to closed, the January sales data reflect activity centered around the holiday season, during which sales activity almost always pulls back. I'll post February and March sales data in the next few days and I expect the numbers will improve again. The warm, mostly snowless winter in the northeast and the mid-atlantic states has had a negative impact on skier visits for sure, which has not been good for the ski country economy at large. Most real estate sales activity, however, is generated from buyers who already have a connection to a certain area, in our case, Killington, and not to the first-time visitors to the area. Last winter was as good as this winter was bad, so the most serious buyer prospects, returning guests, season pass holders and dedicated enthusiasts, like the ski house groups, seem to recognize this winter as an aberration. An anecdotal observation on my part is that there were many warm, rainy weekends that brought prospective buyers into the real estate offices when in a more typical year, they would have been on the slopes.

      Killington Real Estate Sales - 2011

      2011 Killington Real Estate Sales Summary

      Total Number of Sales: 96

      Total Single Family Homes: 15 - Median Price $288,133

      Total Mulit-Family Homes: 3 - Median Price $173,333

      Total Full Ownership Condos: 51 - Median Price $170,000

      Total Interval Ownership Condos: 20 - Median Price $30,000

      Total Land Sales: 5 - Median Price $134,800

      Killington Real Estate Sales - December 2011

      Sales in December 2011 were up 50% over November, marking it the best month in volume since May 2011 and the highest median sales price since this blog has monitored the metric. There were 12 transactions in Killington in December 2011, comprised entirely of condominium sales. The condo sales included four quarter-shares at the Killington Grand Hotel, a 1BR Mountain Green in Building III for just $36,000, two ski-home Trail Creek condominiums, two new construction townhouses at The Heights and three ski in/ski out condos including a Sunrise and two Lodges units.

      Strong activity in the $300-$400K price range resulted in a median sales price in December 2011, exclusive of interval ownership properties, of $300,000. Please click the link below to see all of the real estate sales in Killington in December 2011:

      December 2011 Sales

      These are the most robust sales figures in years and may signal a transition from a declining market to a stabilizing market - the perfect time to buy, especially given the low cost of money as a result of historically low interest rates.