For all intents and purposes, there are even fewer Killington properties for sale at the end of this year than ANY other year! The number of properties on the market is skewed by Mt. Green owners who are facing a capital assessment which will continue to apply for several years into the future. Of the 19 properties currently on the market in Killington, nine of them are at Mt. Green. Inventory has been minimal throughout the year and sales volume is down dramatically as a result.
The average sale price of both homes and condos continued to rise in 2022 due largely to limited availability. The average sale price of homes sold was just over $800K, up 10% over last year. The average sale price of condos sold rose to just under $400K, up more than 40% over 2021. These trends are likely to continue for the foreseeable future as inventory is not likely to change significantly through the end of the snow season.
Total market revenue for 2022 was $66 million, down almost 35% compared to last year but significantly higher than any other previous year. We believe market revenue in 2023 will likely be similar to this year as we expect inventory to remain stable. The next major change to the Killington real estate market is likely to occur in 2024 when we expect a few high-end developments to materialize. Stay tuned!