Total Killington market revenue is up 61% over last year to more than $65 million and transaction volume is up 60%. That said, the “mix” of properties sold has changed. The percentage of revenue represented by the sale of homes was just 32%, the lowest level since Prestige Real Estate has been tracking the data.
In 2024, condo sales accounted for more than 62% of the total market revenue compared to 55% in 2023. The average price of condos sold was up 15% to a new Killington high of $460K. The number of homes sold increased but the average sale price of homes sold in 2024 was down 30% to $783K.
Land sales were strong in 2024 with 13 parcels selling. Sale prices ranged from $25K to $1.35 million for 28 acres offering ski in ski out access along Great Eastern and Home Stretch. It is great to see new construction going on in town which had not occurred for some time. A few new homes are being built and construction will begin at Base Camp at Bear Mountain along the Bear Cub trail this Spring. Killington real estate inventory hit an alltime low in 2021 and has been growing over the past three years. Although inventory remains significantly lower than it was 5-10 years ago, it increased by 74% from 2023 to 2024.
The average number of days on market for homes sold also increased last year. We believe these changes are notable and warrant watching as the townwide
tax reassessment is likely to motivate more property owners to list their homes and condos for sale.
You can also download YTD Killington Property transactions here.