Blog :: 2010

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

Killington Real Estate For November

As was the case for October, 7 properties sold during the month of November.  5 were condominiums, 1 was a home and 1 was a parcel of land.  The condominiums that sold were a one bedroom Mountain Green for $67,000, a studio at Pico for $60,000, a three bedroom/two bath unit at Pico for $205,000, a three bedroom/three bath Fall Line for $210,000 and a  Topridge Town Home for $625,000.  There were 5 properties pending at the end of the month, 4 condominiums and 1 home.  To view all of the Killington Properties for sale visit Prestige Real Estate of Killington. 

Killington Real Estate Activity for October

Several of the properties that were under contract in September successfully closed in October.  A total of 7 properties have sold this month, 5 were condominiums and 2 were homes.  The condominiums that closed were a one bedroom Mountain Green for $69,000, a two bedroom Woods for $133,000, a two bedroom Fall Line for $195,000 and 2 three bedroom condominiums at Sunrise sold for $235,000 and $275,000.  2 homes sold for $140,000 and $225,000.  There are 8 properties pending, 7 are condominiums and one is a house.

To view all of the Killington properties for sale visit Prestige Real Etate of Killington.

Killington Real Estate Activity for September

Only one property sold during the month of September, a two bedroom Pinnacle for $150,000.  However 9 properties are currently under contract. Five are homes with listing prices ranging from $149,000 to $599,000 and four are condominiums.  There are two Woods, one Sunrise and one town home at The Heights pending.

To view all of the Killington properties listed for sale visit Prestige Real Estate Of Killington.

New Organization Forming In Killington

On October 10, 2010 a meeting will be held at the Sherburne Elementary School for out of state property owners.  Guest speakers will include Chris Nyberg, President, Killington/Pico Resort, Rob Megnin, Director of Marketing, Killington/Pico Resort and Steve Selbo, President, SP Land. Registration begins at 9:30 a.m. and the meeting will start at 10:00 a.m.  The purpose of this meetig is to discuss the creation of a Killington/Pico Owners Association.

Killington VT Real Estate Activity For August

 

Seven properties sold in Killington during the month of August.  Four were condominiums, two were homes and one was a parcel of land.  All sales were under $250,000 and two of the sales were foreclosures, something rare to the Killington region.  Two, 2 bedroom Whiffletree condominiums sold, one 2 bedroom Highridge condominium sold and one 3 bedroom Pinnacle sold.  There are currently three condominiums, one  condex and two homes pending. 

To view all of the Killington properties for sale visit http://www.prestigekillington.com/

 

 

Killington VT Real Estate Activity For July

Only 3 properties sold in Killington during the month of July.  All were condominiums and all were ski on/ski off properties.  One 2 bedroom and one 3 bedroom Sunrise condominium sold and one 2 bedroom/loft Trailside Village condominium sold.  Currently 5 condominiums are pending.  No homes sold in Killington in July but three homes are now pending.  There was no land activity at all in Killington in July.  To view all of the Killington properties for sale visit www.prestigekillington.com

Killington Real Estate: The First Six Months of 2010.

Compared to the first half of  last year, the number of condominium sales this year have doubled.  Ten condominiums sold during the first six months of 2009 while twenty sold during the same period this year.  However, even though transaction volume is up, selling prices have continued to fall so much that the total market sales in dollars is almost exactly the same as last year.  Also, fifteen of the twenty sales this year went under contract during the first three months of the year.  There has been very little activity in Killington real estate since April 1st.

Sales of land and single and multi-family homes have remained consistently low for the past four years.  If all of the home sales in the first half of the year for the last four years were combined, the sum barely exceeds the number sold in the first half of 2005 alone.  

Killington Real Estate for the month of June was almost non existent.  Only three condominiums sold during this period; two Pico units and one Fall Line.  To view all of the  Killington properties for sale visit Prestige Real Estate of Killington.

Real Estate Activity in Killington, Vt During the Month of May

Eight properties sold in Killington during the month of May. Seven were condominiums and one was a parcel of land.   A one bedroom Mountain Green, five Pico units and one Sunrise condominium sold.  The parcel of land was on Route 4 in Killington.  One condominium went under contract during the month and is scheduled to close later this year.  While no homes sold during this period, one home is now also under contract.  To view all of the Killington properties for sale, visit www.prestigekillington.com

Killington real estate market sales have improved!

Since writing our last newsletter at the beginning of April, 2010 ten Killington properties have sold:

  • eight Killington condos sold, priced from $72K for a 1-bedroom Edgemont condo to $290K for a 2-bedroom loft condo at Trail Creek
  • two Killington single family homes sold -- a foreclosure on Currier Drive for $162K and a 3-bedroom home on Rim Road for $319K

Last year, during the same period, only TWO properties sold -- a condo at Sunrise for $275K and a single family home off McClallen Drive for $800K.

Another positive indicator that the Killington real estate market is improving is that there are eleven additional properties currently under agreement.  There was almost nothing pending at this time last year.

To view all of the current Killington properties for sale, visit www.prestigekillington.com.

Killington Resort Village - to develop or not to develop?

Killington Resort Village

Killington Resort Village(image courtesy of www.discoverkillington.com)

Prestige Real Estate firmly supports the development of the Killington Resort Village for several reasons:

New construction will raise real estate values and heighten interest in existing properties. Some people have argued that new residential construction (both homes and condominiums) will have a negative effect on Killington real estate.

We believe just the opposite. Having been involved in several new construction projects (Winterberry, The Lodges, Topridge Duplex Homes and The Vistas), we have seen how new construction has had a positive impact on the market value of nearby property.

New construction will bring new buyers to our region. Several buyers with whom we have worked were also considering new construction at other ski resorts. Had we not been able to present to them new projects in Killington we strongly believe they would have bought elsewhere. The new residential units to be built at the "Village" will excite buyers who have complained about the lack of "new product" in Killington.

The Village will bring back skiers who have left for other areas. Skier visits to Killington have declined over the decade from well over a million to just over 600,000. We need to attract new visitors and we need to convince people who have left Killington (for other resorts with a village) to return. Those who worry about traffic on the access road or overly crowded conditions on the mountain forget that we have the capacity for a significantly larger number of visitors than are currently here.

New commercial development will create an incentive for existing businesses to make improvements. New retail/commercial space is of concern to some but we believe that new competition is beneficial to everyone. More traffic coming to the area will benefit existing businesses as well as new businesses. In addition, existing businesses who have become complacent may be forced to update, benefiting all customers and ultimately themselves.

Construction of the Village will bring a substantial number of jobs to Killington. There will be many new jobs for people year round helping to stimulate business during traditionally slow periods.