I am trying to plan an early season ski trip (first week of jan) for my friends and i that would be both cheap and fun. The best i have found so far is a 7 springs condo midweek that includes lift tickets for about $190 per person for 3 days. However, i am very skeptical about what conditions we may encounter this time of year at 7 springs. Can anyone give me an estimate for what % of the terrain is normally open there by early jan?

We are also considering going up north for some real skiing but are not sure where to start to looking for good prices (at least ones not too much over $250 for 3 days plus skiing). Anyone have any good ideas?

We're usually always fully open with great conditions by then. The only areas that may not be open due to lack of natural snow are the glades areas like Turtleneck, Turtleclaw & Alpine Glades.

I agree with TM that Seven Springs will usually be pretty squared away by early Jan unless really bad year. Same for Snowshoe and probably Wisp.
Cheap trips to the far north, assuming you are talking road trips.
Here's a few suggestions:
-go to Jay Peak Vermont, fairly cheap, basic slopeside lodging, but almost at Canadian border, could hit Burke or Cannon coming/going.
-go to New Hampshire, in general skiing is cheaper there than Vermont, nice weekday lift ticket specials at good places like Cannon Mtn, Wildcat, Waterville. North Conway has loads of lodging for big summer market, often bargain priced for winter.
-I got a real good slopeside deal at Sugarloaf, ME one January. Big mtn, but way far north and possibly frigid - which is the reason for January discounts.
-maybe ski smaller south-central Vermont places like Magic, Bromley, Ascutney for cheaper deals, all have verts around 1500'.