The real estate market throughout Vermont is in a low phase. The total volume of sales since about 2005 has decreased by over 50%. Second homes and condominium values in the “valley” have declined in the 10% to 20% range. Projects located slope side are the bottom of the range.

Mount Snow Real Estate Sales Comparison

Most areas of Southern Vermont are reporting a small bump in pending contracts and sales. This is encouraging but it is the appraiser’s opinion that it is unlikely that we have seen the end of the slump in the real estate market. Most publications indicate that by the end of 2009 the residential market will begin to increase. It has been the appraiser’s experience that Vermont typically does lag behind other areas of the country. This is evident by the down cycle that took place in the late 1980s/early 1990s. It is more probable that it will be late 2010 before Vermont does experience any significant increase in its real estate market. Above right is a graph showing the

Mount Snow Real Estate Condo Sales Comparison

decline in total sales in Wilmington and Dover; two major towns that make up the Mount Snow or Deerfield Valley. To the left shows condo sales that reached their peak in Dover in 2006 but have drastically declined since then.

Currently there are approximately 396 properties available for sale and of those 125 are condominiums. This large inventory along with low interest rates, make it a great time to buy. Visit our website, www.SkiHomeRealty.com or contact me at (802) 464-2366 or skihome@sover.net to discuss your options.

If you’re looking to sell, give me a call to discuss. There are many factors in this market that will define how quickly you are able to sell and it’s not only price. (802) 464-2366.

John Redd
Principal Broker
SkiHome Realty