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Demand remains strong for Killington properties

Killington sales reached a new high in 2023 with a single-family home closing for $3,751,000. In fact, there were two home sales over 3 million dollars. Both properties were ski in/ski out. Those sales brought the average home sale price over $1 million for the first time in Killington sales history. That said, we believe the median sale price ($735K) is more indicative of the overall market condition. Nine out of 15 home sales were at, or over their asking price, and the median days on the market was just seven days! Only two single-family home transactions took longer than a month to go under agreement.

The market for condominiums was not quite as dramatic but remains very strong. The numbers continue to be skewed by Mountain Green data as sales there accounted for more than 25% of all Killington condo sales. The average sale price of condos sold in 2023 rose to just over $400K and the average days on market were 48 days. If Mtn. Green data were excluded, the average sale price of condos was almost $475K, 2.5% over the average asking price. The average days on market were fourteen.

Inventory continues to limit sales as demand far exceeds supply. As of December 31st, there were just six homes, ten condos, and seven parcels of land available in Killington.

Interestingly, most of the properties currently on the market have been listed for more than 30 days. If you recall, in our last newsletter we noted that properties remaining on the market for more than two weeks were likely overpriced. We continue to believe this to be true. Asking prices for homes currently on the market range in price from $425K to $3.4 million with the average being just over $1.7 million.

Article by Heidi Bomengen

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