Blog :: 2021

Market Update Winter 2021

Luxury Studio at Stowe Mountain Resort

 

It’s been a little over a year since our world was rocked by COVID and shutdowns. So much has happened over this time period, including many hardships and pain. As we reported in our year-end report, it was a year like no other, wrapping up as one of the most historic years in real estate sales ever. Although we will have our comprehensive Q1 market report in a few weeks, here is a preview of the data and trends we are seeing so far. 

As this winter has progressed, so have overall sales. We continue to see record-breaking figures, and recurring trends: higher number of sales and prices; and interest rates still at historical lows. Growing demand to invest and live in Vermont remains a significant factor, and as a result, buyers are faced with some of the lowest levels of inventory ever seen in our market area. As they and their agents search for additional options, land has come into focus, resulting in higher numbers of sales in that category too.

In Stowe, there have been 18 home sales, year to date, which is higher than previous norms.  These range in price from $445K to a high of $5.6M for a luxury home in Robinson Springs.  More than half of the sales were over $1 million, which has never been seen before. And with 2 of the homes selling over $5 million, the median sale price is over $1 million. These properties moved through the market faster than usual, with a median number of days on the market being only 17.

Demand for, and number of condominiums sales was the same as for homes, but the prices were much more affordable, with a median sale price of $404K. The number of days on market was historically low with a median of only 29.

The number of home sales north of Stowe was up as well. The 22 closings were distributed almost evenly between Morrisville, Elmore, Hyde Park and Wolcott, with a median sale price of $297K. The large majority of closings were under $450K, offering buyers many more affordable options in this region. The highest sale price was just over $1M for a contemporary post and beam on 4+ acres.

In contrast, Waterbury’s numbers are always much smaller, for instance, there are only 2 homes there that have sold since the beginning of the year. This is due in large part to the dearth of listings available in that area. The median price was $388K, and the median days on market, 33.

Pending sales are higher than usual. In Stowe there are 19 pending home sales, with a median list price of just under $1 million. The number of days that these were on the market was slightly over 17, as seen for sold properties in Stowe. Homes priced over $1M were about 1/3 of the total there that are pending.

There are 12 condominiums pending, ranging up to $2.5M for a 4 bedroom luxe Club Residence at Spruce Peak. These were on the market about 3 times longer than Stowe’s residential homes.

In Waterbury there were only 3 pending home sales, with a median price of $875k, which were only on the market for 17 days; and in Lamoille North, there were 12, with a median price of $369; and only on the market for 8 days!
 

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Coldwell Banker Awards Smith Macdonald Group President's Premier Teams for 2020 Achievements

It is with great pride – and humility – that we announce Coldwell Banker Real Estate has presented The Smith Macdonald Group with the prestigious International President's Premier Team award for 2020. The achievement of this highly esteemed designation distinguishes recipients as one of the top 1% of Coldwell Banker Teams in the U.S and Canada.

The Smith Macdonald Group proudly celebrates 11 years as a team in the Coldwell Banker family (as Coldwell Banker Carlson Real Estate). Family members and owners, Peggy Smith, and daughter and son, Maggie and McKee Macdonald, have combined real estate experience and expertise that spans decades and now generations as the family continues to grow and evolve this agency into the future. Our commitment remains to provide the highest level of service to our buyers and sellers and apply today's most advanced technology, resources, and tools to provide our valued clients with the most successful outcomes.

Thank you to Coldwell Banker for this notable recognition – and thank you to our exceptional community who we will continue to gratefully serve – for the trust and confidence you have placed in us.

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New Listings in Stowe, Vermont

Buyer Demand has never been higher; and with the least amount of inventory the market has ever seen, buyers are waiting in the wings for new properties to be listed.  Here are two new listings in Stowe.  One is a 1 bedroom condominium at Spruce Peak, and the other, a commercial condominium on the Mountain Road, both of which are ideally located and affordable.  See below for more information on these new listings, or click on the photographs.

 

 

 

 

 

 

First chair, no problem! Last run, for sure! Sunrise turns your views of Mt. Mansfield and Stowe Mt. Resort pink, sunset turning the sky hues to purple and red, check! Don't want to drive and deal with parking at the base, done!  This luxury studio offers prime views of Stowe Mt. Resort, Mt. Mansfield, the Front Four, and Gondola, check the conditions of the day from your bed by looking out the window. Access to the spa, outdoor pools, hot tubs, restaurants and bars, valet parking, ski valet, and the private club are all options with ownership.  For more on this including photos, you can go here. Price: $299,000

 

 

Located just outside the village, this handicap accessible condominium is modern, bright, and open.  With 4 separate offices or treatment rooms, the entire space was renovated in 2019, including new plumbing, a new heating system, and rewiring.  With lots of parking and hi-speed internet, you won't find nicer commercial space in town to move right in. If you are currently renting office or retail space, this property makes sense to purchase.  For more on this property you can go here.  Price: $220,000.

 

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