Blog :: 2012

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

Killington VT Real Estate Activity for November

Twelve properties sold in Killington during the month of November.  Five properties were houses ranging from an "off the grid" home on 10 acres boardering Bridgewater for $114,000, to a three bedroom home with 4,300 square feet on 22 acres on River Road for $375,000.  Seven condominiums sold during this period: three 2 bedroom/2 bath units at Highridge sold from $130,000 to $161,000; a 3 bedroom/2 bath Whiffletree closed for $101,000; a condex on Prior Drive sold for $158,000; a 2  bedroom/2 bath at Sunrise sold for $152,500; and, a 3 bedroom/2 bath Pinnacle closed at $170,000.  To view all Killington properties listed for sale please visit Prestige Real Estate of Killington.

Killington VT Real Estate for October

Nine properties sold in Killington during the month of October.  One duplex, located on West Hill Road, sold for $273,000, a condex on Barrows Towne Road closed for $157,500, and seven condominums closed during the month.  The condominiums that sold were:  a one bedroom Pinnacle for $87,500; a one bedroom/loft Trail Creek for $115,000; a two bedroom Pinnacle for $129,000; a two bedroom Fall Line for $160,000; a three bedroom Woods town home for $220,000; a three bedroom Sunrise for $253,000 and a three bedroom Winterberry for $425,000.  To view all Killington properties listed for sale, please visit Prestige Real Estate of Killington.

All Killington market indicators are up...except price!

Sales volume in terms of number of Killington properties sold AND total real estate

market revenue year to date are the best they have been since 2007 and comparative third

quarter total sales data are even stronger.  With inventory holding reasonably steady and

mortgage rates continuing to be remarkably low, we have every reason to be optimistic

going into the final quarter of the year which historically tends to be strong in Killington.

Total sales dollars: Year to date total market revenue has increased over 30% since the

same time last year. Market revenues for the first three quarters in 2012 have been $14.0

million compared to $10.6 million for the same period in 2011. Transactions: There have

been 63 real estate sales in Killington year to date, compared to 51 for the same period

last year, amounting to a 24% increase. The last time there were more than 63

transactions during the first three quarters was in 2006. Also, of significant note is that

the number of transactions during the 3rd quarter of this year (25 sales) is up 150% over

the same quarter last year and is the highest number of transactions during the 3rd quarter

since 2005. Prices: Although market indicators are showing significant signs of

improvement, we would be remiss if we did not point out that the reason total market

revenue is up so dramatically is because the market reflects a greater proportion of higher

value transactions.  For example, only three of the thirteen houses that sold in the first

three quarters of 2011, sold for over $300,000. In 2012 to date, eight of eighteen houses

sold for over $300,000. In the condo market, the prices of comparable properties have

still not begun to rise.  Inventory: Inventory is remaining reasonably steady. There are

currently 59 single- and multi-family homes on the market in Killington, up slightly from

52 at the same time last year. There are 112 condos on the market as compared to 118 at

the same time last year. The biggest change in inventory is reflected in the number of

parcels of land on the market.  There are currently 18 parcels of land listed, the lowest

number since 2008.

Killington VT Real Estate for September

8 properties sold in Killington during the month of September, 7 condominiums and 1 parcel of land.  The land was located off of Telefon Trail (.8 acre) and closed for $14,500.  The condominiums that closed in September were: 2 one bedroom units at Mountain Green closing for $31,000 and $35,000; a two bedroom Fall Line closing for $165,000; a one bedroom Sunrise for $113,000; a three bedroom Moon Ridge for $178,000;  a 2 bedroom plus loft at Trail Creek for $210,000; and a 3 bedroom Winterberry for $424,000.  To view all Killington properties listed for sale please visit Prestige Real Estate of Killington.

New Killington resort President

Killington Resort and Pico Mountain Announcement

Effective immediately:

Chris Nyberg has been named President and Chief Operating Officer of the resort division of Powdr Corp.

Mike Solimano has been named the President and General Manager of Killington Resort and Pico Mountain.

Chris joined Killington/Pico Ski Resort Partners, LLC. in 2007 as the president and general manger. In his tenure with our resorts, more than $20 million was invested in resort improvements including the Skye Peak Express Quad, the Roaring Brook Umbrellas Bars and Deck, snowmaking improvements along with removal of the original Peak Lodge and preparation to build Killington's new Peak facility. Chris' hard work and dedication in the ski industry will continue in Park City, Utah where he will still work with Killington Resort and Pico Mountain and visit from time to time.

Mike brings many years of experience and broad knowledge to his new role as president and general manager for Killington/Pico Ski Resort Partners, LLC. For the last 12 years, he has served as director of finance and revenue and has been instrumental in achieving the recent on-mountain and guest service improvements at our resorts. Additionally, Mike's taken on other direct responsibilities in retail sales, ticket and season pass sales and the lodging division. Mike's previous role also involved him in strategic revenue generating programs relative to other departments at the resort including but not limited to all pre-sold programs and Pico program development.

Mike and his family, wife Cara, son Connor 12 and daughters, Hannah 9 and Lauren 7 are avid skiers and active in the community. Additionally, their children are growing up as participants in the Pico Ski Club racing program. Prior to his association with Killington Mike worked seven years at Deloitte & Touché as Audit Manager and six years at Skis Dynastar as VP of Finance and Operations.

"The Killington/Pico Executive Team has worked together to define our plan for the upcoming season, and I am confident that Mike will continue to pursue the high standards of operations and service that have been established," stated Chris Nyberg. "Please join me in congratulating Mike on his new role."

SARAH THORSON Killington Resort | Pico Mountain Communications Manager T: 802.422.6115 F: 802.422.6118 C: 802.342.8557 killington.com | picomountain.com

Killington VT Real Estate For August

Ten properties sold in Killington during the month of August: five were condominiums,  four were homes and one was a condex.  The condominiums that closed in August were: a 4 bedroom Sunrise for $290,000; a 3 bedroom Whiffletree for $102,500; a 3 bedroom Mountain Green for $128,000; a 3 bedroom Moon Ridge for $173,500; and, a 2 bedroom Highridge sold for $159,000.  The condex was located off of Dean Hill Road and sold for $92,000.  The four homes that closed during this period were: a 3 bedroom/2 bath home on Wobbly Lane selling for $195,000; a 3 bedroom/3 bath home on Roaring Brook Road for $421,000; a 4 bedroom/4 bath home on Estabrook closed for $380,000; and, a 2 bedroom/1 bath home sold for $155,000 on Butler Road.  To view all Killington properties listed for sale please visit Prestige Real Estate of Killington.     

Killington VT Real Estate Activity for July

7 properties closed in Killington during the month of July.  2 homes sold, a tw0 bedroom two bath home on Ridge Road closed for $180,000 and a four bedroom six bath home off of Killington Road sold for $1,600,000.  3 condominiums sold: a one bedroom Mountain Green "penthouse" unit sold for $52,500; a one bedroom Fall Line sold for $90,000; and a two bedroom Sunrise closed for $153,000.  2 parcels of land also sold in July: a 1.5 acre lot off of Old Coach Road sold for $60,000 and a one acre lot off of Killington Road sold for $125,000.  To view all Killington properties listed for sale please visit Prestige Real Estate of Killington.

The Killington real estate market continues its slow improvement

Although Killington real estate transaction volume for the 1st half of 2012 is lower this year compared to last year for condos (23 vs. 28), it is up for homes (12 vs. 10) and land (3 vs. 2).  The average sales price of both homes and condos improved (+4% for homes and +16% for condos) accounting for a 5% increase in total market revenue.   For all of the details, check out the Prestige Real Estate newsletter published on July 1st, 2012.  That along with all back issues can be found at www.prestigekillington.com/newsletter

Killington VT Real Estate Activity for June

Only three propeties sold during the month of June in Killington.  A 2 bedroom 2 bath Pico condominium sold for $111,000; a 6 bedroom 6 bath home with 5,800 square feet sold for $425,000; and a 10 acre parcel of land off Dean Hill Road sold for $74,000.  To view all Killington properties listed for sale please visit Prestige Real Estate of Killington.

Killington VT Real Estate Activity For May

Eleven properties sold in Killington during the month of May: seven condominiums, one house, two duplexes and one parcel of land.  The house that closed was a small 4 bedroom 2 bath home off of McClallen Lane that sold for $205,000.  A duplex off of Lady Slipper with two 3 bedroom/2 bath units closed for $300,000 and another duplex off of Floral Drive with two 3 bedroom/1.5  bath units closed for $280,000.  The seven condominiums that closed were: 1 bedroom Trail Creek for $103,000; a 2 bedroom Woods condominium for $118,750; a 2 bedroom Highridge for $145,000; a 3 bedroom/den Pinnacle for $162,500; a 3 bedroom Lodges for $385,000; and two Sunrise condominiums, a 2 bedroom for $132,000 and a 3 bedroom for $255,000.  Lastly  a 10.28 acre parcel of land off of Dean Hill closed for $75,000.  To view all Killington properties listed for sale please visit Prestige Real Estate of Killington.