draft newsletter 100116.pub
Killington Real Estate in Review A Publication of Prestige Real Estate of Killington 2922 Killington Road Killington, VT 05751 802-422-3923 phone 802-422-4874 fax www.prestigekillington.com/news
Does it takes a village? VOLUME 11, ISSUE 4
OCTOBER 1, 2016
T
he Killington real estate market has been fighting an uphill battle for years now. Transaction volume has been rising but year to date market revenue at the end of the 3rd quarter has hovered just above or below $14 million for the past five years. This year to date, transaction volume is up almost 15% yet market revenue is down about 7%.
IN THIS ISSUE: • Does it take a Village? • 2016 Killington real estate sales YTD
The average sale price of condos has been holding at about $160K for the past three years. The average price of homes sold has been within about 10% of $300K for the past nine years with a couple of anomalies. We believe that the lack of new large-scale real estate development in Killington has stifled the growth of high-end home sales, particularly as compared to Stowe and Okemo. Year to date, there were 31 sales of properties over $500K in Stowe and 20 in Okemo while there were only 3 in Killington. In addition, there are another 12 properties over $500K pending in Stowe and 8 in Okemo with just one pending in Killington. What is it going to take to get affluent buyers from the Boston, New York, and Philadelphia metropolitan areas to take note of the tremendous real estate opportunities in Killington? A “Village” perhaps…?
* Based on NEREN MLS data available as of September 30, 2016
VOLUME 11, ISSUE 4
PAGE 2
2016 YTD Killington Real Estate Transactions
Based on NEREN MLS data available as of September 30, 2016
For info on all Killington properties for sale and updates on Killington real estate news, visit: www.prestigekillington.com
Prestige Real Estate of Killington 2922 Killington Road Killington, VT 05751 Phone: 802-422-3923 Fax: 802-422-4874 E-mail: [email protected] Website:www.prestigekillington.com
Does it takes a village? VOLUME 11, ISSUE 4
OCTOBER 1, 2016
T
he Killington real estate market has been fighting an uphill battle for years now. Transaction volume has been rising but year to date market revenue at the end of the 3rd quarter has hovered just above or below $14 million for the past five years. This year to date, transaction volume is up almost 15% yet market revenue is down about 7%.
IN THIS ISSUE: • Does it take a Village? • 2016 Killington real estate sales YTD
The average sale price of condos has been holding at about $160K for the past three years. The average price of homes sold has been within about 10% of $300K for the past nine years with a couple of anomalies. We believe that the lack of new large-scale real estate development in Killington has stifled the growth of high-end home sales, particularly as compared to Stowe and Okemo. Year to date, there were 31 sales of properties over $500K in Stowe and 20 in Okemo while there were only 3 in Killington. In addition, there are another 12 properties over $500K pending in Stowe and 8 in Okemo with just one pending in Killington. What is it going to take to get affluent buyers from the Boston, New York, and Philadelphia metropolitan areas to take note of the tremendous real estate opportunities in Killington? A “Village” perhaps…?
* Based on NEREN MLS data available as of September 30, 2016
VOLUME 11, ISSUE 4
PAGE 2
2016 YTD Killington Real Estate Transactions
Based on NEREN MLS data available as of September 30, 2016
For info on all Killington properties for sale and updates on Killington real estate news, visit: www.prestigekillington.com
Prestige Real Estate of Killington 2922 Killington Road Killington, VT 05751 Phone: 802-422-3923 Fax: 802-422-4874 E-mail: [email protected] Website:www.prestigekillington.com
