Stowe, VT Real Estate Analysis
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