Stowe VT Market Data

Stowe Inventory Remains Low - Market Update

As we approach the end of the 2nd quarter of the year, we thought we’d give a quick update on the market. A recurring theme continues - that of Buyer demand continuing to be strong, and inventory low. So far, the buying and selling season has already been a busy one. As we enter the most active period of the real estate sales market, this is a very good time to sell. Buyers are ready, and with the lack of inventory, they are looking for more choices. For Buyers, it’s still a good time since interest rates have remained at one of the lowest levels ever, and if prices rise, the sooner the better to buy.  

As you may be aware, the Vail purchase of Stowe Mountain Resort operations was recently completed. Many ask if that has had an impact on real estate sales. It’s still a little early to be quantitatively definitive about that, but many are talking about it, and feeling that overall, it is of economic benefit to the region. In addition, we have been seeing a pretty clear positive impact in some segments of the market. When the news first broke about the impending sale, there was an uptick in sales of condominiums located near the Mountain.

Since the start of the second quarter, there have been a total of 25 residential closings, which includes 16 condominiums. The price range is from $106,000 – $3.3 million, which is a Mountain Cabin, at Spruce Peak.  Currently there are 24 residential properties under contract, ranging in price from $199,000 - $1.495 million; 2 of the pending sales are over $1 million, 7 of them are condominiums.  

This is just a overview, but if you are thinking of selling, it is a great time to list your property. If you are thinking of buying, new inventory remains tight and have educated representation in this market, will work to your advantage. Let us know if you have any questions, and how we might help you reach your real estate goals, and assist you through the process.

Want a Smarter Home?


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If  you go to this webpapge you will find an interactive interior where you can quickly find lots of helpful tips for every part of your home.  You can turn your lights on before you get home, turn your heat up or down while on vacation, have your entertainment system hidden in your light sockets; and even unlock the door for a service person, while you're at work.  Technology has come so far, that you can now actually have a cup of coffee awaiting you when you arrive home after a long day. 

For more information, and additional state of the art smart home ideas, you can visit this site.

   Source: ColdwellBanker.com   Photo: Kasalis.com   

Stowe Restaurants -- Some of our Favorites Revisited!

 

Many ski towns offer a variety of food, but not a variety with quality.  The Stowe area is known for having both; here are a few of our local favorites:

Markets & Quick Eats:

Cork located in downtown Waterbury, VT at the corner of Stowe Street. This wine bar and market is operated by a long time friend Danielle Moffat. She offers a wide variety of beautiful tasting wines along with a cozy atmosphere. Stop by on your way to Stowe for a drink and pick up a bottle on your way out the door. 

Commodities Natural Market, newly opened in Stowe, this is the second location for Commodities the other being the East Village in NYC.  Run by Michael and Audra Hughes Commodities offers a full array of natural and orgainc products from prepared foods to bulk items.  Commodities has a ton of local products ranging from cheese, veggies, bread to beer and wine. 

Casual Dining:

Harrison's, ask for Andrew and Kathy Kneale, the mother and son duo that has been pleasing locals with their food for decades. Casual dining located in the Stowe village. Known for their mussels, but everything that comes out of the kitchen is great. 

The Bench locatied on the Mt. Road (Rt. 108) just after the movie theater, this new addition to the Stowe restuarant scene has been welcomed by locals and visitors.  Offering wood fired food and tons of beer on tap it makes for a great combo after spending the day on the slopes.  The wings rock and my kids love the mac'n'cheese and pizza. 

Piecasso Pizzeria, NYC slices in Stowe also rated Top 11 slices in America by Travel and Leisure Magazine. They have a great family set up and also a cool bar and game room, plus the pizza is great. 

Phoenix Bar & Table, owned and operated by long time local resturant operator and chef Jack Pickett, Phoenix offers a varitey of seafood and unique eats that span the world.  The kale and wedge salads are terrific as well as the po-boy sandwiches.  A great option for lunch and dinner.  

Plate, located on Main Street, next to Coldwell Banker Carlson Real Estate, offers locally sourced Vermont food made in a healthly Califorina style.  They offer everything from vegan and gluten free to a full gamut of meat options.  

Gracie's, another Stowe Classic, run by Archie, you'll never leave there hungry. Known for their burgers, Gracie's take it to the next level. I love the boxer and their famous chicken sandwich. 

Cactus Cafe is Stowe's Tex-Mex favorite. Offering their famous jalapeño chips at the table, beware they bring the heat. Also on the menu are slow smoked pulled pork tacos, a southern twist to a Mexican standby. Wash it all down with their Mansfield marg! 

McCarthy's is the only stop for breakfast in Stowe. They've been serving it up for over 30 years and know how breakfast should be done. Ask for Diane, she'll probably be at the door waiting for you with a smile. Their homemade corn beef hash is made from scratch, just like the maple nut bread. 

The Roost & Flannel, located at Topnotch Resort, these are two nice options for different kinds of fun.  The Roost offers a relaxed environmnet with good bites to share along with craft beer and cocktails.  Enjoy shufflepuck or relax outside by the fire.  Flannel, is a more formal dining setting, a bistro with flare and great patio seating. 

Formal Dining:

Michael's On The Hill located in Waterbury center, just south of Stowe. This chef owned restaurant sources local foods at a very high quality. Offering tasting menus and creativity, Michael's if perfect for a romantic dinner. Try their Manhattan, made with port wine, as a bourbon lover; I give it two thumbs up. 

Hen Of The Wood located just off I-89 in Waterbury this kitchen has been cranking out high-end food for many years. The unique location and old stone mill offers a view of the river and waterfall which is only match by the quality of the food. 

Kitchen Table Bistro, a bit further away, located in Richmond, but well worth the drive. As with the other two they locally source their food and offer a stunning wine list. The menu changes with the seasons and offers a real look into handcrafted Vermont food. 

2014 Year-End SM Report, Stowe, VT Real Estate Report

2014 Year-End SM Report, Stowe, VT Real Estate Report

 

Welcome to the Smith Macdonald Report, our 2014 Year-End examination of the Stowe, Lamoille and Waterbury residential and land real estate market.  This report uses market-wide data based on transactions that closed in 2014 and compares them to closings that took place during 2013.  Since closings usually occur four-to-eight weeks after a contract is signed the sales activity charted here reflects transactions that closed during and through the end of 2014, and does not include contracts signed that have not closed.

In 2014 the Stowe market continued to show steady growth from 2013, with an increase of 9% in units sold.  There were 89 total units sold in 2014, setting a record high for the past 10 years.  2014 brought about a more rounded market across all price points, with the sub $500K market leading the way with 53% of the market.  The luxury market saw significant gains, with sales finally breaking through the $2 million mark.  Given the sales were more evenly dispersed throughout the market the median and average pricing rose by 30% and 10% respectively, these shifts were mainly due to the sales above $2 million.  There were slight increases in units on the market, 18%, and months of supply, 17, which is indicative of a more stable market with positive indicators.  As we progress into 2015 with a stronger US economy we expect to see those economic trends translate into continued growth in our local market.

The Lamoille market (excluding Stowe) was stable year over year with only a 11% gain in units sold.  The luxury market, above $400K, had a 50% increase in sales in 2014, 10, compared to 5 in 2013.  Movement on this end of the market is important as it has been stalled for many years.  The Waterbury market had a slight dip of 8% in 2014 compared to 2013, but given there were only 34 units sold in 2014, we consider this to be a very stable market.

Smith Macdonald Group ranked 3rd in the state of Vermont and 194th nationally among all Coldwell Banker teams, second in sales among all brokers in Stowe and Lamoille County and top 25 in all of Vermont.  Whatever your real estate needs in the coming year, Smith Macdonald Group is the market and technology leader and we encourage you to take advantage of every resource we can offer you.
 

Click the link below to access our website and download our full Smith Macdonald Report.

2014 Year-End Smith Macdonald Report, Stowe, VT Real Estate Report

Stowe VT Real Estate Analysis | 2013 Year-End Smith Macdonald Report | Stowe Blog

Stowe, VT Real Estate Analysis

Stowe, VT Real Estate Analysis, Smith Macdonald Report
Stowe, VT Real Estate Analysis, Smith Macdonald Report

 

Welcome to the Smith Macdonald Report, our 2013 Year-End examination of the Stowe, Lamoille and Waterbury residential and land real e

state market.  This report uses market-wide data based on transactions that closed in 2013 and compares them to closings that took place during 2012.  Since closings usually occur four-to-eight weeks after a contract is signed the sales activity charted here reflects transactions that closed during and through the end of 2013, and does not include contracts signed that have not closed.

In 2013 the Stowe market saw a significant shift in total residential units sold not only year over year, a 10% increase from 2012 but more importantly a 75% increase in sales from the bottom of the market in 2009.  There were 82 total units sold in 2013, equaling a market high from 2005 and matching the largest amount of sales over a nine year period.  While the majority of price points held steady over 2013, the $500K to $1 million price point saw an increase of 42% in unit sales, helping to restore the middle ground in our market.  The increase in sales helped to push inventory down, with a 12% decrease in homes on the market compared to a year ago.  Our market is trending tow

ards a more balanced market in terms of supply.  The sub $500K market is where the majority of the sales continue, there is just over a seven months of supply, basically an even market.  Below $300K there is a shortage of inventory with only a four months supply.  The above $500K market has 11 months of supply of inventory, still a buyer's market.

The Lamoille market (excluding Stowe) had a strong year with a 36% gain in units sold, with gains in the higher-end portion of the market finally breaking through.  The majority of sales still remain below $200K.  The Waterbury market remained stable with only slight drops in median and average pricing, but a 9% increase in units sold.

Smith Macdonald Group ranked 4th in the state of Vermont among all Coldwell Banker teams, the only team located outside the Burlington area, second in sales among all brokers in Stowe and Lamoille County and top 25 in all of Vermont.  Whatever your real estate needs in the coming year, Smith Macdonald Group is the market and technology leader and we encourage you to take advantage of every resource we can offer you.

Peggy Smith                                       McKee Macdonald

President/Broker                             Broker

802.793.3566                                      802.375.5009

SMG@smithmacdonaldgroup.com

 

Stowe VT Luxury Property Featured on Bloomberg | Stowe Blog

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SMG's Stowe, VT Luxury Property Featured on Bloomberg!

Smith Macdonald Group's Stowe, VT Luxury Property, Le Château des Monts Verts, was featured on Bloomberg, under luxury homes for sale with chef-worthy kitchens.

This elegant couDSC02799ntry property is unique in quality, luxury and style. Reminiscent of a home in the French countryside, it was designed by world class architect Bruce Anderson, it is located more than 1,000 feet above Stowe Village and from virtually all rooms enjoy exceptional panoramic views west to the Green Mountains and Stowe Mt. Resort. The property sits just below 13,000 acres of environmentally protected Putnam State Forest providing total privacy. The open main level overlooks the large deck and includes a luxurious chef's kitchen equipped with Meile, Sub-Zero and Thermador appliances, living room, dining room and a solarium that brings the outside in during every season; this main level is ideal for entertaining. From this level one can ascend via a custom crafted grand master staircase to two master suites each with Jacuzzi baths and excellent mountain views.

DSC02883The lower level has a large bath, a home theater with HD and surround sounds, a home office with custom cabinetry and a garden room for flower arranging and potting. This floor includes two very private walk out bedrooms to a large covered terrace. This terrace enters a lovely garden walk to the heated pool and cabana with a half bath and kitchenette. This is a smart house that includes a security system and a premium sound system in the main rooms and deck. This one of a kind home has finishes imported from France, Italy, Brazil and Canada, all blended beautifully with a local Vermont craftsmanship. These unique features, inside and out combine into a truly exceptional country home.

Bloomberg Homes for Sale with Chef-Worthy Kitchens.

 

2013 Mid-Year Smith Macdonald Report | Stowe Real Estate Market Analysis

2013 Mid-Year Smith Macdonald Report

Cover
Smith Macdonald Report

Welcome to the Smith Macdonald Report, our examination of the 1st six months of the Stowe, Lamoille County and Waterbury's residential and land real estate market.  This report uses market-wide data based on transactions that closed in the first six months of 2013 and compares them to closings that took place during the first six months of 2012.  Closings usually occur four-to-eight weeks after a contract is signed for that reason, the sales activity charted here reflects transactions that closed during and through the end of the 1st  & 2nd Quarters, and does not include contracts signed that have not closed.

As the economic recovery continues to take hold and markets around the country rebound; the Stowe market is starting to follow suit.  As many of us know the Stowe and Vermont markets tend to lag behind many of these national markets.  The market saw gains in units sold of 39% compared to the same time period in 2012.  39 total residential homes sold in the 1st six months of 2013, exceeding market high sales volume from 2007.  While the majority of the sales remain below $500K, 61%, down from 68% a year ago, the $500K to $1 million price point almost doubled from six to 11 sales, increasing its market share to 28% from 21% a year ago.  We also saw the median and average prices only slightly decline by 2% and 4% respectively. There was a slight uptick in inventory, due to seasonality and a strengthening market, of 9% from a year ago.  The more positive market indicator is the overall months of supply have decreased from 23 months to 18, equaling a 22% decline.

Lamoille County continued to improve in 2013 compared to 2012 with a 34% increase in residential sales volume.  It did however see a slight decrease in median and average prices, dropping 3% and 5% respectively.  Inventory in Lamoille County continues to be a concern with over 298 units available, with 221 units being priced from $300K and below.  Waterbury residential sales volume had a strong turn-around, with an increase of 67% in units sold compared to this time a year ago.  This did result in declines in median prices of 20%, but increases in average prices, 7% compared to the first six months of 2012.  Sales between $200K and $300K helped anchor the market in Waterbury, with 7 of the 35 total sales happening in this price point, thus causing the median prices to decrease.

The recent movement in interest rates will require further monitoring before its full affect is known.   The Smith Macdonald Group and Coldwell Banker Carlson Real Estate have started to take a different approach to positioning homes in this ever strengthening market by looking at absorption rates and odds of selling, a key factor to helping you buy or sell.  Contact us to understand how this affects your property.

One factor will always remain; we are your trusted real estate advisors and are ready to provide you with unmatched expertise and advice. We hope you find the Smith Macdonald Report helpful and we welcome any questions you may have regarding it.

Click here to access the 2013 Mid-Year report and other Smith Macdonald Report's.

Sincerely,

Peggy Smith                                                          McKee Macdonald

President/Broker                                                 Broker

802.793.3566                                                       802.375.5009

 

Smith Macdonald Group of Coldwell Banker Carlson Real Estate

25 Main Street, PO Box 300 Stowe, VT 05672

Selling a House? 5 Reasons You Should Do It Now | Stowe Blog

Selling a House, Now is the Time.

Good tips in here for why you should consider selling.  We at Smith Macdonald Group feel the shift in interest rates is the largest reason why.  The current shift up in rates means the buying power of buyers decreased between $40K to $60K.  That's a significant shift, a buyer who on June 1 could have afforded a $300K house can now only afford a $250K house.  That's real money on both sides of the transaction.

 

Selling a House? 5 Reasons You Should Do It Now.

2012 Year-End Smith Macdonald Report and McKee Macdonald Featured in Stowe Reporter

reporter 1-30_20130131144515_000012012 Year-End Smith Macdonald Report in Stowe Reporter

This week's Stowe Reporter featured an article by Lisa McCormack about the real estate market in Stowe.  The article also featured Broker McKee Macdonald and his views on the past year in real estate as well as what we expect to see in 2013.  Also used in the article were statistics from the 2012 Year-End Smith Macdonald Report.

Here's the article in full or click here to read it on the Reporters website.  Click here for the 2012 Year-End Smith Macdonald Report

Home sales up, prices down in 2012

Posted: Thursday, January 31, 2013 12:00 pm

By Lisa McCormack

74 homes sold in Stowe

The Stowe real estate market is picking up steam, though it could be a while before prices reach the peaks they enjoyed prior to the economic crisis, according to local real estate experts.

The number of housing units sold in Stowe last year hit a four-year high while median sales prices dropped slightly, according to a recent report.

Seventy-four single-family homes were sold, a 7 percent increase from 69 in 2011. The median sales price -- the point where half of sales fell above and half below -- fell 9 percent from $426,000 to $387,400.

Sixty-three percent of the home sales involved prices below $500,000, said McKee Macdonald, a broker with the Smith MacDonald Group of Coldwell Banker Carlson Real Estate in Stowe.

The Smith McDonald Group's yearly market report was released earlier this month. The report does not include sales that had not closed by the end of December.

On average, houses priced under $1 million sold for 7 percent below the original asking price, while houses priced at $1 million and above sold for 21 percent less.

Homes generally sold for close to the assessed value the town government uses for property-tax purposes, with homes priced below $500,000 selling closer to their assessed value than more expensive homes.

Eight houses sold for $1 million or more, down from 10 in 2011. Five sold for between $1 million and $1.5 million, and three sold for more than $1.5 million.

All but one of the million-dollar sales were cash transactions, McDonald said.

"People are feeling more confident with the economy," McDonald said. "We're seeing people who have decided that they're not going to put their personal plans on hold waiting to see what happens with the government or the tax codes. There's a nice storm of people with money and the ability to get loans at low rate."

While second homebuyers tend to gravitate toward Mountain Road neighborhoods, in 2012, residential sales were spread evenly throughout Stowe, he said.

The number of Stowe houses for sale shrank 20 percent from 2011.

Based on the law of supply and demand, that should eventually help to move prices upward, McDonald said.

Excluding Stowe, sales of residential housing units in the rest of Lamoille County rose 8 percent, with 118 units sold compared to 109 in 2011.

The median sales price increased 1 percent, from $188,000 to $189,250.

While the market is moving in a positive direction, the inventory of homes has increased by 22 percent, from 208 to 253, which may counteract the momentum, according to McDonald.

Land and condo sales up

After several years of stagnant growth, sales of Stowe land parcels increased by 317 percent. There were 19 sales of open land, compared to six sales in 2011. Median prices rose by 24 percent, driven by sales over $500,000.

Meanwhile, inventory decreased by 9 percent; 75 land parcels remain on the market compared to 82 a year ago.

While condominium sales increased last year, sale prices dropped.

Thirty units sold in 2012, up from 24 in 2011, a 25 percent increase. However, the median selling price dropped 30 percent, from $372,500 in 2011 to $262,000.

Most condos sold for less than their town-assessed value with units between $200,000 and $400,000 taking the biggest hit; on average they sold for 9 percent below their assessed value.

Stellar amenities draw buyers

Stowe real-estate offices report a busy year. Last year's sales were just eight units shy of the market high of 82 homes sold in 2005.

Stowe's reputation as a four-season resort community continues to draw second homebuyers while the town's excellent school system attracts primary homeowners, said Pall Spera, owner of Pall Spera Co. Realtors in Stowe and Morristown.

Business at Spera's three offices increased between 30 and 40 percent last year.

Improvements made at Stowe Mountain Resort have helped to generate interest the housing market, Spera said.

"Our pedigree has been enhanced by what they've done up there," Spera said. "Businesses in the entire county are looking at ways to improve their quality of service as a result of the economic challenges from the past few years. You're not going to survive if you don't get it."

Despite the upswing in sales last year, it's still a buyer's market. Making sure that a home is in good condition and pricing it right are essential, given the relatively large number of houses from which buyers can choose, Spera said.

McDonald is seeing a healthy mix of both primary and second-home buyers.

Primary homebuyers tend to make up most of the under $500,000 market and several first-time homeowners have taken advantage of the under $300,000 market, McDonald said.

"They've been renting and now they have enough saved for down payment and are looking at the opportunity to buy into the Stowe market," McDonald said.

Historically low mortgage interest rates are also helping sales, he said.

While the $500,000 and above market tends to attract second-homebuyers, they're looking for good deals.

"It's a turn in the right direction but not a turn to the height of the market where prices were exploding," McDonald said.

Trends for 2013

McDonald expects to see an increase in second-home sales in 2013 as the stock market strengthens and investors look for real estate deals.

"People see the value here," McDonald said. "They see the cultural aspects that Stowe provides. We expect that sales volume will continue to grow and the stabilization of the market will continue.

"We fully expect the sub $500,00 price point to be the driver, but I wouldn't be surprised to see high-end cash purchases to come back and luxury homes to command a larger portion of the market."

Home prices will likely be lower than during the real-estate peak of 2005, but higher than when the market tanked in 2008, predicts Spera.

"I don't see that we'll have a jump up in pricing this year," Spera said. "We'll have a gradual solidifying of prices, which will build confidence in market."

He also expects more people to put their homes on the market.

"Many people have been holding off on selling and they might sell now that market is recovering," Spera said. "This spring you'll see quite a few new properties coming on the market."

Buyers will also continue to consider a home's tax bill when making a purchase, and they'll put an emphasis on whether a home has cell-phone signal and wireless Internet access, Spera said.

 

Bikes For Kids

Bikes for Kids

Bikes for Kids

Dropping off this year's Bikes for Kids

 

For years Coldwell Banker Carlson Real Estate has been providing bikes for kids through our "Bikes for Kids" program. Once again this Christmas we have delivered to the Lamoille Family Center in Morrisville, Vt., five bikes for families in Lamoille County. These bikes have been donated to us from our sellers, buyers, and Good Samaritan's. During the sales process we sometime discover barely used bikes in homes we represent. We have found that the owners are very excited to donate to our program. Our donations are not only in the form of bikes but cash donations.

We delivered the bikes this morning to the Family Center after a Christmas snowstorm. What a wonderful feeling to know that some child will have many hours of pleasure on their new bike and that we were able to make it happen. Thank you to all of our clients and customers who have made this happen.

If you have barely used bikes that are in very good condition or would like to make a donation please let us know.  Learn more about Bikes For Kids.