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.
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