Blog :: 10-2007

Stay up to date on Killington real estate activity with regular updates and information on sales activity

Killington East Residents Voice Concerns to Killington Town Officials

On Monday night, October 15, 2007 a group of two dozen or more town residents attended a meeting of the town of Killington Selectboard to voice their concerns about some of Powdr Corp's new Killington mountain operations decisions.  The decision that raised most concerns at this meeting related to Killington's "announcement" to not run the lower Skyship gondola Monday through Thursday on non-holiday weeks.  A flurry of e-mails after the announcement appears to have caused the mountain to rethink their decision and only close the lower gondola on Tuesdays and Wednesdays, mirroring the operating plan for Pico for the upcoming season.

Property owners most directly affected by the decision are those who own ski in/ski out homes and condos on the ski trails serviced by the lower gondola, primarily "Great Eastern" and "Home Stretch."  Their ability to rent those properties for mid-week periods is negatively affected and one could assume the value of those properties could be diminished.  Although residents were slightly appeased by changing the closures to just Tuesday and Wednesday, concerns remain. 

Unfortunately, the Board of Selectman and the town may have little influence over business operations decisions made by a private corporation.  I think we all appreciate that Powdr Corporation is in business to make money and we support that objective.  My hope is that, in making those operations decisions, Powdr realizes the economic affect they have on the entire town.

For further reporting on the meeting and discussion, see Bruce Edwards article in the October 17, 2007 Rutland Herald.

Killington real estate sales slump continues

Each quarter, as we gather and analyze data for our newsletter, we search for the silver lining in what appears to be a market continuing its downward spiral.  As we experience several consecutive quarters of slow market activity, that silver lining gets harder and harder to find. Year to Date Sales 

Once again, the number of transactions is down compared to last year.  The number of condo sales year-to-date is down 18% compared to the same period last year and only eight homes have sold in Killington since the first of the year.  There has not been a single land transaction in 2007. Current Inventory 

Consequently, it should come as no surprise, as sales volume drops, inventory continues to build.   As of September 30, 2007, condo inventory is up almost 20% over last year at this time with 143 condos actively listed on the market: · 3 studios

· 47 one-bedroom units · 49 two-bedroom units · 44 three-bedroom units Of  the units sold, they were on the market almost 9 months before going under agreement, almost twice as long as in 2006.