Real Estate

Real Estate Market Update

 

There have been many questions surrounding the reality of Covid-19 affecting our communities and businesses, including real estate.  One of the most commonly asked questions is “how is the real estate market”.  Since our Q1 Market Report, everyone has wondered about any potential effects. 

Market activity has increased since some of our operating restrictions were lifted by the state on April 20, which now allows us to show properties, albeit with required procedures.  Despite that, buyer demand has been very strong, and inventory is still very low.  This presents buyers with a potential new challenge which includes the ability to come to the Stowe area to view houses, since anyone traveling from out of state has to quarantine for 14 days before interacting with anyone.  For some, FaceTime and virtual tours have enabled some buyers to make decisions about purchasing a property, which we’ve seen take place since April 20.

Here are some sales statistics from the past week which provide an overview of current market conditions:

  • There were 4 residential home sales in Stowe last week, which is higher compared to previous weeks
    • The average sale price of these properties was only 5% less than the listed prices
  • There were 6 pending sales in Stowe over the past week, a number not seen since the beginning of March: 2 condominiums and the remainder, homes, ranging in price up to $1,975,000. 
  • There were only 2 new residential listings added: 1 house and 1 condominium
  • Commercial activity increased as well, with 1 new listing, and 1 pending sale
  • Sales activity was very similar in Lamoille North, and in Waterbury

It continues to be a good time to sell; as well as a good time to buy, with interest rates being the lowest seen in memory. We continue to monitor the market very closely, and will post updates periodically to keep everyone informed during this time.

 

 

 

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Tips for Buyers and Sellers in Today's Market

    

Although these are still somewhat uncertain times, real estate transactions are taking place; and now that some restrictions have been lifted in Vermont, they have increased.  We are monitoring the market and updates, daily, in order to best help you navigate today’s changing environment.  In the meantime, many consumers and agents are resorting to virtual tours and/or FaceTime for viewing and showings with success, as properties in our market area have recently gone under contract as a result.

The following are some tips for buying and selling in today’s market.

For Buyers:

  • Reach out to a lender to get pre-approved. Rates are at a historical low, and this is a great way to be certain you are looking in the correct price range and to be well-positioned as new properties hit the market this Spring/Summer
  • Check out the virtual tours online and contact an agent to preview a property for you or schedule a FaceTime showing
  • Ask your agent to set up auto notifications of properties coming on to the market for you.  We are still in a low inventory market, and appealing properties can go pending quickly. 

For Sellers:

If you are considering selling your home this season, there are things you can be doing now to prepare turning your home into a house for sale for spring and summer, which is our strongest market.  In a recent Blog from Coldwell Banker, these 5 small home improvements are those that we recommend most often:

  • Curb appeal
  • Freshly painted walls and clean carpets
  • Depersonalize and declutter
  • Update hardware
  • Staging

For detail on these tips, click here.

  • 9 out of 10 buyers are still looking at properties online.  We can now provide the latest and most advanced technologies in order to highlight your property, and enhance the buyer viewing experience.

If you have any questions at all, or would like more detail, please feel free to contact me anytime.  Our comprehensive Market Report is also available should you like to receive a copy.


 

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Real Estate Update

It has been a challenging time for everyone during the events of past weeks, and all are looking forward to getting back to more normal routines, warmer weather and outdoor activities.  Although we may not know what the potential impact may be on the real estate market for some time, our market analysis of the 1st quarter of this year reflects a general consistency in real estate sales across our area.  Real estate transactions continue - not necessarily at the rate of the majority of the 1st quarter of this year - but buyers and sellers are still active. 

The ability to go through the typical buying and selling process has definitely been altered by 'stay-at-home' compliance, but we've adapted in ways so we can provide required information to keep consumers informed of their current options; and work collaboratively with other real estate professionals like lenders and attorneys to help close transactions.  In the meantime, and before 'stay-at-home' orders are lifted, buyers are able to utilize online technologies to help them with their property searches; and sellers are coordinating with their agents in preparation to actively list their properties when the appropriate time comes.  Realtors are still working full-time, just remotely, for now. 

For more detail about the market and activity over the first 3 months of this year, as compared to last year during the same time period, you will find our full report here.

 

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Adapting During These Times

As Covid-19 continues to impact our daily lives, I wanted to reach out and make sure that you and your family are well and safe.  These are trying times for everyone and our communities, but we gain strength from supporting one another as we navigate our personal and professional challenges together, each day. Please know that we are actively and diligently watching the market day-to-day, so that we can help to keep you informed of the market conditions.  Currently we continue to see buyers and sellers actively transacting.  Not at the usual pace we’ve seen over the recent past, yet offers, pending sales and closed sales continue, all the same. Other bright spots amidst this outbreak include seeing our neighbors helping neighbors who have specific needs; and glimmers of warmth and signs of spring beginning to emerge – despite the inches of snow we just had. 

Your health and safety remain our top concern.  As you may already know, the state of Vermont has implemented a ‘stay home, stay safe’ directive as of yesterday, until at least April 15.  Regardless, we remain working full time on your behalf and needs; just remotely, rather than in the office.

If you are still actively looking at real estate, we are implementing additional opportunities to view properties online with visual enhancements.  If you are thinking of selling, we can arrange to connect by your preferred method.

As we know more you can expect further updates from me. In the meantime, please reach out with any questions, concerns, or just to chat. I know this is a very difficult time.

 

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New Listings in Stowe, Vermont

New Properties in Stowe, Vermont

 

 

This home is a rare find and a wonderful opportunity for someone who appreciates the convenience of village living. Relax on the front porch or entertain while grilling on the spacious deck. This home has a comfortable floor plan that works well as a primary residence or second home.  For more on this 3 bedroom, 4 bath home, click here.

 

 

Designed with specific attention to every detail, this home is as functional as it is impressive in style and decor. The main entrance is highlighted by a stunning custom stone fireplace in the living room with cathedral ceilings, and in the adjacent den which is surrounded by windows and wonderful light. Three levels of living provide plenty of space for everyone. 2 separate lots, air conditioning and furnishings included are just a few of the features of this special property.  For more photos and information, click here.

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Luxury Home on Maple Street in Stowe, Vermont

   

The minute you step inside this gorgeous Stowe home, you will recognize how much thought went into this custom designed interior, ultimately distinguished by its exceptional features throughout.  Discover a very special way of life here in this uncompromising home and property. Every facet of luxurious living can be found right here, in the heart of Stowe village.  A multitude of fabulous and unique living spaces provide endless opportunities to experience comfort, relaxation, and joy. The spacious kitchen becomes the focal point for gatherings, and is where the magic happens. With the cozy living area adjacent, complete with stone fireplace and built-in bookcases, there’s room for everyone. Additionally, the living and dining rooms provide space for spreading out. Upstairs 3 spacious ensuite bedrooms will accommodate everyone’s needs; yet if additional and separate living and sleeping area is needed; the casually elegant barn apartment is available. 

For more photos and information on this exceptional property, you can go here.

 

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New Real Estate Listings in Stowe

      

 
 

This delightful and fully furnished one bedroom condominium is ready to move into.  Ideally located not far from the ski trails, this remodeled and renovated Notchbrook condo will very comfortably accommodate any homeowner looking to experience the best of Stowe.  Enjoy the large deck off of the living room three seasons of the year; and the outdoor heated pool, even in winter. Other amenities include tennis, playground, sauna and multi-use trails and conservation land nearby.  $215,000 furnished.  Excellent rental history.  For more information and photos, you can visit my website.

 

     

Two 5 acre lots in Robinson Springs, located just off of Weeks Hill Road. This exceptional area is known for its scenic beauty, desirable location and surrounding amenities including tennis courts. Ideally located with easy access to the Mountain Road, skiing and nearby trail systems, you will enjoy all the benefits of ownership in Robinson Springs which include multi-use trails connecting to Sterling Valley and beyond.  You will find more information about this affordable opportunity on my website.  $185,000.

 

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Real Estate Market Update

As summer begins to wind down, and we close in on the end of August, we are beyond the mid-point of the year, and the real estate summer selling season.  And, although our mid-year market report was published recently, buyers and sellers find it helpful to have periodic updates in between our quarterly publications.  There are many factors that influence real estate sales, but overall, real estate market activity remains consistent.  The following is an update on recent sales activity in the Stowe and Waterbury area.

July 1 to August 21

7 Stowe homes sold up to $600,000

5 Stowe homes sold over $600,000

9 Stowe homes under contract up to $600,000

7 Stowe homes under contract over $600,000

3 Stowe Condominiums sold

9 Stowe Condominiums under contract

11 Waterbury homes sold up to $600,000

1 Waterbury homes sold over $600,000

11 Waterbury homes under contract up to $600,000

2 Waterbury homes under contract over $600,000

If you have any questions, or would like any more detail or information about any of the above, please feel free to contact me.

 

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New Listings in Stowe and Waterbury

The following are exceptional, luxury, and affordable homes, recently listed in Stowe and Waterbury.  For more information on any of these homes, click on the photographs.

 

Located on Taber Hill, this luxury home is distinguished by its exceptional features, and breathtaking views of Mt. Mansfield and Stowe, serving as either the perfect and exciting weekend getaway, or otherwise, lovely year-round country home.  5.86 acres, $1,750,000.

 

This newly built and custom crafted home with light filled rooms, hand hewn beams and state of the art kitchen, will satisfy the most discerning.  Spectacular views all around, and 15 acres on Covered Bridge Road.  $1,495,000

 

This classic Vermont farmhouse has so many wonderful features inside and out.  Nature's finest is right outside the french doors from living room or master bedroom, including a pond with dock, and gardens. Lots of room for family and guests.  $875,000

 

Located in the best of Stowe Hollow, this gorgeous home is surrounded by beautiful grounds and gardens. Recently renovated, inside and out, you'll find everything you need for your desired lifestyle, year-round or seasonally.  3 levels of living.  $795,000

 

Ideally located in one of Waterbury's most attractive areas this unique farm-like property is highlighted by 8 acres of meadows and gardens to roam, and surrounded by views of Mt. Mansfield, Camel's Hump, and the Worcester Range.  $595,000

 

This attractive and recently renovated home is fully furnished and affordable.  Conveniently located with easy access to Cady Hill Forest which has some of the area's best mountain biking, hiking and running trails.  4 bedrooms, bright and modern.  $395,000

 

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Q3 Market Report

After a long beautiful and busy summer, the real estate market remains strong with continued buyer demand.  Low inventory remains a predominant theme, whereby the number of MLS listings hit a 3-year low.  This has caused many buyers to compete with others for a scarcity of housing choices, driving prices up in some cases.  The median price for home sales in Stowe for instance rose again significantly for the third year in a row, topping out at the end of Q3 at $620,000.  This is an increase of 11 % as compared to Q3 2017.  Some wonder if buyers might be reaching a threshold for what they might be willing to pay for a home.  Other housing markets in different locations around the country are starting to slow down as a result of these factors.  Interest rates have been on the rise, and have recently hit a 7-year high of 5.0%.  Thankfully we have not yet seen this negatively impact buyers.

Home sales in Stowe, and the rest of Lamoille County were up at the end of the first 9 months of this year.   Home sales in Stowe rose 13% in Q3.  In addition to the median price being way up, the average sales price for homes in Stowe had an unusual jump, due to a $10,500,000 sale.  This sale represents the highest priced residential sale in Vermont in years.  At the end of Q3, there were 13 pending home sales which is down from a total of 20 a year ago during the same time period.  The average days on market for homes prices under $500,000 was 70, and sales between $500,000 and $1,000,000 were on an average of 138 days.  Sales up to 1 million dollars sold only 3% less than the listed price, which has tightened over the last few years.

For more information and detail on the Stowe market conditions and the surrounding area, you can visit my website for our comprehensive Market Report. 

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