The Killington real estate market differs from the national market in many ways, however one statistic that is tracking with the nation trend is that real estate sales volume is down significantly. Forty one condominiums have sold in Killington in the first nine months of 2006, down 57% from the same period last year. The number of home sales have dropped 48% for the same period.
There are currently sixteen condos under contract and scheduled to close, five are new construction units at Topridge. Prestige Real Estate is proud to say we are involved in 50% of these pending transactions.
It should come as no surprise, as sales volume drops, inventory continues to build. As of September 30, 2006, inventory was up almost 38% over last year. There are 120 condos actively listed on the market:
· 36 one-bedroom units
· 44 two-bedroom units
· 37 three-bedroom units
· 3 four-bedroom units
House inventory is up 34% over the same time last year. There are currently 47 houses on the market (10 of which are multi-family)with an average listing price of just over $653K. Six houses are listed for over $1 million and another 10 houses are listed for over $600K and have been on the market an average of 204 days.
For more details and to view the entire 3rd quarter newsletter, visit Prestige Real Estate of Killington’s website.