Heidi Bomengen

Killington Real Estate Sales are up and Prices are up

As of June 12th, 2018 Killington VT real estate sales for the first half are exceeding sales last year for the same period.  So far in 2018, 34 condos, 10 single family homes, and 1 multi-family home has sold.  In addition, there are 17 properties under agreement.  If just 4 of the 17 properties under agreement sell before the end of June (about 3 weeks from now), sales will be tracking ahead of last year.  

One of the things fueling property sales and higher prices is low inventory. 

  • Condo inventory in Killington is 40% lower than the same time last year
  • Single family home inventory in Killington is 30% lower than the same time last year
  • Land inventory in Killington is 46% lower than the same time last year

Prestige Real Estate does a review of condominium price trends annually and reports the results in its quarterly newsletter issue published and posted to the Prestige Real Estate website during the first week in July.  Although all of the figures are not final, it appears that in 40 out of 49 categories of condominiums tracked, the most recent sale price on average has risen 24% above the lowest sale price for that type of unit.

This may be the beginning of a turning point toward a Seller's market, something that hasn't been seen in Killington in 10 years!

Killington Real Estate Sales May 2018

Eight condos were sold in Killington in May 2018 and there were no single- or multi-family homes sales or land sales.  Comparatively, there were eight condominiums sold in May last year as well as five single family homes sold.  This year during May, the average sale price was approximately $116,000 and the properties were on the market 335 days before going under agreement.  Last year, the average price of condos sold in May was $127,000 as more higher priced properties were sold.  The specific properties that were sold in May 2018 were:

  • Pico 1-bedroom condo for $59,000
  • Pico 2-bedroom condo for $132,500
  • Pico 3-bedroom condo for $157,000
  • Killington Center 2-bedroom condo for $60,000
  • Valley Park 2-bedroom condo for $92,000
  • Edgemont 3-bedroom condo for $100,000
  • Pinnacle 2-bedroom condo for $114,000
  • Sunrise 1-bedroom condo for $139,000

Prestige Real Estate is proud to have been involved in four out of the eight sales.

Ted Crawford retires from Prestige Real Estate

It is with great sadness that I say goodbye to Ted Crawford, my business partner at Prestige Real Estate for the past twelve and a half years.  Ted has decided it is time to spend more time with his growing family which now includes seven beautiful young grandchildren.  I can only wish Ted the best as he moves on.

Kaitlyn Hummel and I decided that we could not let Ted leave with holding a retirement party on his behalf.  More than forty real estate sales people, attorneys, mortgage brokers, appraisers, and contractors joined us at the Lookout on Thursday, May 24th to wish Ted the best of luck.

New Construction in Killington Vermont - 4/30/06

There are currently three "New Construction" projects underway in Killington. Prestige Real Estate is very well versed in each of the projects' unique characteristics and is the exclusive listing agent Topridge. Ski in/ski out seems to be the factor driving the New Construction sales.

Topridge at Bear Mountain in the Sunrise Village is almost sold out, with only 3 new units available for sale. Base prices for three bedroom plus "den" duplex town homes start at $795K. The King's Pines, a community of 8 duplex town homes and one single family home, is located within walking distance of the Killington Road's shopping, dining, and entertainment. Three units are sold.

The Heights has begun construction of twenty four 3-bedroom town homes with garages at the bottom of the Killington Road. The units start at $695K. Two other exciting projects are in the works and we anticipate being able to share information about them with you in the next two to three months.

Welcome to Prestige Real Estate Blog

Welcome to our blog focused on news items in the Killington Real Estate market. Our desire is to try to give you useful and up to date information. We'll focus on real estate issues that should be of interest to you like new listings, recent sales activity, new construction projects, and tips for buying or selling in the Killington resort area. Please share your comments with us. We are very interested in your feedback. I encourage you to learn more about us by checking out the Prestige Real Estate website.