All we can say is WOW.
A year ago at this time, the world was turned upside down by a global pandemic. Most of us can safely say, we had no idea what we were facing. Killington had shut down the mountain for an undetermined length of time. The Governor of VT had issued an Executive Order for all non-essential service work to cease and workers stay home. Real estate sales were deemed “non-essential” and that order stayed in effect for three months.
At the end of the mandated shutdown, Killington real estate sales surged. The market more than rebounded with year end 2020 sales exceeding 2019 in terms of revenue and transactions. Some of those sales may be attributed to the pandemic and the desire by those in densely populated metropolitan areas to escape to the mountains. That said, the pace of sales has continued to increase and has reached record breaking levels.
- Revenue is up 277% over the same quarter last year
- Transaction volume is up 93% over the 1st quarter 2020
- Average sale price is up 182% for homes and 33% for condos
- More than 60% of home and condo sales sold for at, or over asking price
- Inventory is at an all time low with only 23 total properties for sale on March31st and median days on market is down to just NINE days!