Of the more than 240 listings in Killington, only three properties sold in the first quarter of this year.  In addition, only three houses and one condominium were under contract as of April of this year; although, the number of showings was up.  Showings are clear indicators of interest in buying homes in Killington, and the hope is that they will translate into sales.

Potential buyers were holding out earlier this year believing that after ski season ended and rentals were vacant, owners dependent on rental income would have to sell.  With so many homes on the market and so few buyers, sellers would be forced to sell at lower-than-market values.  Potential buyers were holding out in hopes of reduced real estate prices.

Since spring is the traditional season for listings, it is also when prices are established for the remainder of the year.  Inventory levels dropped in Killington since the end of 2008.  If new sellers can hold out from listing their properties, it may result in a reduction of homes available on the market, which would drive real estate prices up.  It’s all in risk of the strategy.

The local economy primarily thrives on tourism.  Killing/Pico Ski Resort noted some encouraging sales figures, and some that are not so encouraging.  The company reported the following in comparison to last year’s season:

• Increase in ski season pass sales.
• Increase in ski school students.
• Day skier visits remain same.
• Decrease in equipment rentals.
• Decrease in overnight skier visits.
• Decrease in food and beverage sales.
• Decrease in revenue from lodging reservations/length of stay.

Killington real estate values have not diminished to a great degree in the past two years, and the town is surviving one of the most challenging of economic times.  The general consensus from Killington citizens is that their future is significantly brighter than most; therefore, they have reason to remain optimistic. If this ski town interests you, click Killington, VT Homes for Sale to own your own vacation getaway.