Blog :: 08-2009

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

Killington VT News

The Killington Planning Commission did not move forward with the approval of the PUD application for the "Village". It was hoped that the Commission would approve the Conceptual master Plan and the PUD with conditions, allowing SP Land Company to move forward with state permits. The Commission will meet again on September 9th but few are now optimistic that they will take action.

Carl Spangler, Director of the Killington Development & Tourism Department resigned effective August 25th. No reason has been given for his decision to step down. Carl Spangler was hired by the town in November of 2008 to head the newly created economic development department. It is not known if the town will hire a replacement.

Killington takes 1st step toward purchasing land to host town events

Last night, in a meeting of the Killington Select Board, the town discussed the intent of the Select Board and the Economic Development and Tourism (EDT) Commission to purchase a parcel of land in town.   The EDT has recommended consideration of the purchase of a parcel of land to provide a venue for events desired in the future.  Members of the Select Board clarified that an option to purchase the land (not the purchase of land itself) was likely to be approved.  The option would cost $25,000 and would be funded through revenues collected under the town's 1% Options tax approved at the Killington town meeting held in March 2008.

Many of the questions raised by attendees at the meeting were deflected by the Select Board stating that the details of the arrangement would be discussed only in Executive Session.  That said, the Select Board confirmed that they were considering and would likely approve the $25,000 expenditure to purchase an option, only.  The Board stated that they were empowered to authorize this expenditure, however, purchasing the land, itself, would require a vote by the town at the Killington town meeting to be held in March 2010. 

More details are likely to become public in September after the option is purchased.  For complete details of the discussion at the meeting, visit the Killington town website for access to the minutes of the meeting dated August 24, 2009.  The next Select Board meeting will be held Tuesday, September 8, 2009 at the town offices.

Killington major projects expected to move forward

Big news for Killington this coming week!

First, according to the Rutland Herald this week, the Select Board has approved spending $25,000 of revenue from the 1% Options tax to move forward on the purchase of real estate.  Although the location of the property being purchased has not been formally announced, it is my understanding that it is a large parcel of land located on Killington Road.   The property is to be used to host new town events.  The purchase is expected to be announced formally at the Killington Select Board meeting to be held Monday evening, August 24th.  Stay tuned for further details.

Second, the Killington Planning Commission will be discussing, and hopefully moving forward on Wednesday evening, August 26th, with some type of approval of the PUD application, submitted by SP Land Company several weeks ago.  This meeting is the continuation of the public hearing process which has been discussed and recessed from meeting to meeting over the past couple of months.  Although we don't anticipate approval of the complete PUD, we are optimistic that the Commission will approve the Conceptual Master Plan and the PUD, with conditions.  This should allow SP Land to move forward with more detailed design and engineering.  Many more steps are required before any construction may begin, including Vermont's Act 250 procedures and detailed building and site plan reviews.  This could, however, signal an important first step towards the development of the much anticipated Killington Village.  Again, stay tuned for further details.

Follow these links for copies of Select Board and Planning Commission minutes and agenda.

Killington VT Real Estate Activity

Recently a 2 bedroom, 2 bath ski on/ski off condominium went under contract. This property is located on Bear Mountain in Killington. A 15 bedroom home listed for $319,000 was just reduced to $304,900.

Killington Real Estate Activity is picking up

In the first 12 days of August, three Killington condos have sold:

  • a one-bedroom Pico condo listed for $129,000 sold for $115,000;
  • a one-bedroom Fall Line condo listed for $152,900 sold for $149,000; and
  • a three-bedroom Fall Line condo listed for $285,000 sold for $225,000.

In addition, during the same period, four Killington properties have gone under agreement:

  • two two-bedroom Pico condos listed for $140,000 and $199,000;
  • a three-bedroom Pico condo listed for $200,000; and
  • two Killington single family homes listed for $199,500 and $475,000.

This activity marks a significant transition from "lookers" to "buyers."  All indications are that this trend will continue into the fall.

Killington VT Real Estate Sales Data for July 2009

Five properties sold in Killington, VT in July 2009.  Four of these real estate sales were for condos and one single family home.  Killington condo sales ranged in price from $130,000 to $165,000.  Of those sales, two were located in Sunrise Village, one at Whiffletree, and one at Fall Line.  One single family home sold in Killington on Roundabout Drive for $326,000.

Alhtough more properties sold in June (8 sales) than in July, there are six properties in Killington that are currently under agreement: five condos listed for $129,000 to $285,000, and one single family home listed for $724,000.

Continue to watch this blog for regular updates on Killington real estate sales activity.  To view properties currently for sale in Killington, visit www.prestigekillington.com.