Home sales

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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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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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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