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Property values rise while inventory remains very tight.

The average sale price of homes sold in Killington year to date reached $900K which is the highest ever since we have been tracking the data! The same is true for the average sale price of condos which was just under $400K.

The number of transactions is strong considering the limited inventory and has driven total market revenue to just under $50 million year to date. This exceeds every year at this time except 2021, which was heavily driven by COVID-related demand.

Inventory continues to be very tight in Killington with just seven homes, thirteen condos (9 of which are at Mt. Green) and eleven lots for sale. Average days on market has continued to drop for homes, particularly for those priced under $700K but has increased somewhat for condos, largely driven by the number of Mt Green properties listed for sale.

We anticipate the final quarter of 2022 to continue at the same pace with a similar number of transactions at similar prices. There are currently 23 properties under agreement. Rising interest rates have not seemed to dissuade interest with second home buyers or short term rental investors. Only those properties that are priced significantly higher than comparable sales have languished on the market.

To read the full newsletter,  please download the Q3 2022 Killington Real Estate Sales Report  (PDF download), click here. To download year to date sales for 2022, click here.

Article by Heidi Bomengen

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