Berkley & Veller Real Estate Blog

Posted on 04/12/2010 by Brandy Speno
Windham County is comprised of 23 towns on over 798 Square miles. The different sections of Windham County each have their own real estate market. The Mount Snow Valley is comprised of West Dover, Wilmington, Wardsboro, Stratton and Whitingham and hosts a majority of second home owners. Condo's, Townhomes and housing developments mix well with high end mountain homes. The real estate market in the Mount Snow Valley, though down significantly since the boom in 2004/2005 is making slow progress. Inventory levels remain very high, standing at 49.9 months (number of months it would take all active inventory to sell at the current sales rate). The higher inventory levels are generally increasing the time on the market for an active property. Those properties that are selling are priced aggressively from the start and are generally staying ahead of the curve with strong marketing. Sales volume around Mount Snow is steady and constitutes a majority of the sales in Windham County so far this year.

In the month of January, there were 24 real estate sales in Windham County, and 18 of those in the Deerfield Valley towns. In February there were 16 sales, 10 of these in the Valley towns. In March there were 26 county sales, 17 of which were in the Valley. There are 40 pending homes sales as of April 1st in Dover, Wilmington, Wardsboro, Stratton and Whitingham. If all of these contracts close in April or May, the statistics will be on same track as in 2008 & 2009. Though the past few years have not been record breakers, consistency is an affirmation that there is still confidence in our market. Holding steady on sales volume will be part of the puzzle to bring our market out of the fog. Pricing properties right and reducing inventory will be the last critical elements to make our real estate market machine operate at full tilt.