Land

New Office Now Open in Morrisville!

We have just opened an additional office on Portland Street in Morrisville!  For years we've wanted to provide more convenience and service opportunities to our clients and customers north of our Stowe office. This will provide easier access to a market that we've enjoyed serving for decades, but can now expand more easily, helping buyers and sellers with the goals they are trying to achieve in northern Lamoille County and beyond.  Still offering the same level of exceptional service, expertise, support and guidance through the real estate process, we look forward to welcoming you to our new home. 

Our official grand opening at will be Thursday April 25th, from 4-7.  We hope you can join us then, or feel free to stop by anytime otherwise to check out our new space and to see what's new in the area, and the world of real estate. 

74 Portland Street, Morrisville

CBCarlsonrealestate.com

802-521-7962

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Low Housing Inventory Got You Down?

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Many active buyers, means low inventory, and a fast moving market!  Buyers continue to find themselves challenged by the limited options of homes for sale.  So, many are turning to purchasing land, and building.  There is currently a wide variety of properties available, and there are many exceptional builders and architects to choose from, providing the opportunity to build the home of your dreams.  Click through the photographs or visit our website to find out more about these and other beautiful, ready to build on land parcels. 

                      

 

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Market Update

                 Mountain Glen Drive, Stowe

 

The real estate market has been strong and consistent for years in our market area and beyond.  As our world has had to recently navigate the unexpected challenges and affects of Covid-19, there has been a great deal of uncertainty; and more than ever, people want to know what the state of the real estate market is.  As communities expand with re-opening, and some local and state restrictions have been lifted over past weeks, we have been able to begin to get a clearer picture.  Real estate continues to transact, and prices have been holding for the most part - in some cases even increasing. Three factors so far remain in tact - strong buyer demand, low inventory, and all-time low interest rates.  And although there have been fewer options for buyers to choose from, this is the time where more sellers will be listing their properties for sale, which we have already been seeing.

Despite challenges surrounding the ability for buyers to actually come to Vermont from out of state, and sellers being willing or not to have their properties shown, all parties have had to find ways to adapt.  Real estate agents have had to enhance their virtual property tours to enable buyers more visual opportunities to view and even purchase, with assistance from their agents.  As a result, we have been seeing more buyers becoming increasingly active, and properties going under contract at all price points.  In some cases buyers had not even physically seen the property.  As with pre-Covid, some sellers have been presented with multiple offers, a number of which have been for over the listed prices.  We have been monitoring the market more closely than ever, and have found over the past couple of weeks pending sales and closed sales in our market area have been robust - in all price ranges. Two weeks ago all 4 homes that sold, were on average, within 5% of the list price. 

Despite the ongoing need to adapt, including new protocols for showing properties (think masks and other safety precautions), we are optimistic that these consistent trends and consumers' resiliency will continue as we enter our busiest selling season of the year.  Be assured that our goal is to keep the public informed, and provide whatever assistance may be necessary, more often than ever during these changing times.

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Real Estate Update

                 Stowe Hollow Road, Stowe

 

As we reported last month, the real estate market has been strong and consistent for years in our market area and beyond.  These past months have been anything but normal, and brought unexpected challenges as a result of a pandemic sweeping across our nation and the world.  For a time, there was a great deal of uncertainty; and now, more than ever, people want to know what the state of the real estate market is.  We are happy to report, that over just the last few weeks, we have seen life turning back to more normalcy, and real estate is in some ways coming back as strong as ever.  We continue to see an increase in overall sales activity, some of which has to do with more buyers being able to come to Vermont to view properties, now that additional state restrictions for travel have been lifted.  There has also been a collective effort and means to adapt to the current buying and selling conditions, which all parties have managed to navigate very well.

Each day we monitor the market very closely to keep everyone best informed and up to date.  What we are finding is that the market conditions and activity for our market area in general are very much comparable to last year at this time despite some of the operating challenges that still remain.

The sales data has revealed a very strong market over the last month, and in particular the last 7 days.  We've been seeing steady increases each week, but last week was the most significant so far since February/March. The increases were across the board last week, including closed and pending sales.  The number of overall closed sales was up in every area, and pending sales were up in Stowe and Waterbury.  There was only 1 pending land sale in Lamoille North. 

The number of days on market for the pending sales in Stowe was very low - between 4 and 22 for homes - the exception being the Mt Cabin condominium at Spruce Peak which was on the market for 165 days.  One of the homes had multiple offers, which has not been uncommon.  Buyer demand is very high.  The current number of pending sales overall in Stowe is 26 ranging in price from $155,000 for a condo to $3,700,000.  This is almost the same amount as last year during the same time period.  24 of those are residential, and 2 are land.  The median days on market for all is only 48, and the median price is $499,500.

Although there was only 1 pending sale in Lamoille North, there are currently a total of 34 pending sales, most of which are residential, 11 of those are land.  The median price  is $242,000, with a high of $695,000.

In Waterbury, the 5 pending sales is the highest amount seen there in months.  The number of closed sales was consistent with past weeks.  There is a total of 28 pending sales in Waterbury, mostly homes, with a median days on market of 71.  The median price is $372,500.

New inventory added was the highest in Stowe compared to past weeks and months, but this is typical for this time of year.  It remained about the same for Lamoille North and Waterbury.  There was no new commercial data to report in Stowe.

These statistics show a strong market overall, and buyer demand should continue. If you haven't had a chance, you can review our 1st Quarter Market Report on our website.  We will be preparing the 2nd quarter report at the end of June.

 

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End of Summer Real Estate Market Update

              

 

 

 

 

 

 

 

 

 

 

 

The real estate market in our area is hot right now.  It wasn't that long ago that we wondered how the market might be affected by the interruption that Covid had on our world.  There was so much uncertainty.  As Vermont and the surrounding states began to flatten the curve of the Pandemic, buyers were able to begin entering the Stowe area market place again.  Slowly but surely offers and closings began to increase.  And now, we are seeing buyer demand like never before.  This is happening across the nation as well.  Existing home sales were up over 24% in July, as was the median price.  Pent up demand and low inventory sparked a resurgence in buying activity.  Despite continued shortages of residential inventory, buyers have found a way to follow through on their desire to invest in Vermont in a big way, but it's not unusual for them to be finding themselves in a very competitive situation, with multiple offers becoming more common.  Since the end of June, sales and pending sales, and prices have been on the rise.  The number of days on market decreases as properties flow through the market more quickly than usual. 

Sales activity increased again over the course of the past week - significantly in Stowe and Lamoille North.  Waterbury remained consistent with closed sales; and a slight increase in pending sales.  The numbers in Stowe were way up, with an over 30% increase in pending sales and closed sales.  Condominiums and homes still dominate the number of transactions, yet there has been more and more land activity, as buyers look to consider building as an alternative. New listing inventory fluctuates, as buyers remain vigilant and aware, along with their agents, of new properties coming onto the market so they can make appointments to see them as soon as possible. 

We remain vigilant as well, helping to guide our sellers and buyers through the process of selling and buying, giving guidance in order to procure the best outcome for our clients.  We are committed to monitoring the market very closely to keep everyone best informed and up to date.  This is a great time to sell, and the market is desperate for additional inventory.

Our Q2 Market Report is available to view here.  Although home sales in Stowe, Lamoille North and Waterbury were all down for the first 6 months due to the Covid interruption, the number of residential home, and condo sales continues to increase. 

Please feel free to contact us with any questions - we are always available.

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Is it Still a Seller's Market?

133 Gilcrist Road, Stowe Vt

 

The answer is "yes".  As we transition to the late fall and winter season, some have asked us if the real estate market is still active.  We've seen one of the strongest markets ever over the summer and fall, and that continues today as a result of strong buyer demand, and an all time low level of inventory.  There are only 27 homes in Stowe that are on the market currently.  That coupled with many active buyers in the marketplace still looking for either a primary or second home has caused  properties to go under contract extremely quickly - in some cases in only 1 day.  Multiple offers have been common, pushing sale prices up further.  Demand for homes and condominiums takes place in all price ranges.  Even the previously lagging luxury market has been met with a high level of interest, and it has now become more common to see these properties selling in the multi-million dollar price range.  Our team just recently listed the above pictured home along with 54 acres which sold for $6,100M. 

Land and building lots have become more popular too, as the number of residential listings keeps shrinking.  Consumers would still prefer to purchase an existing home, but land provides a nice opportunity to build a dream home from scratch.  There are so many talented architechts, designers and builders with whom we have strong relationships, thereby taking the worry out of this process to build a new home.

Overall, more and more people are choosing Stowe and the surrounding area as a place to call home.  And, with that comes the need for new listings to meet this demand.  If you or anyone you know is thinking of selling, we welcome the opportunity to speak with you about the value of your home, and the process.  We have one of the strongest track records of successfully listing and selling homes for our clients, so we can guide you to help you meet your goals and provide the best outcome.

 

Seller's Market Continues

As with so many communities throughout our region, real estate sales continue to be very strong.  Buyer demand is higher than ever, yet inventory is the lowest ever.  Buyers stand ready to view any new homes landing in their daily inbox, but days and days may go by before there is anything new for them to look at.  Today there was a total of only 19 homes on the market in Stowe, ranging in price from $490,000 to $11.9 million, with only 6 of those under $1 million.  There were a few more condominium choices - 28 in total - many of which are located up at Spruce Peak Resort. 

Despite the winter and holiday season affecting overall activity a little, as it typically does, Seller's are still in an enviable position when it comes to selling now.  Since there are more buyers than there is inventory, it is still an unprecedented time to sell in this market.  One in which the number of days on the market is the lowest, and sales prices are the highest in many cases.

We are ready, willing and able to help any seller who is thinking of selling by walking through the process, and providing an updated evaluation of your property so that you can decide whether it makes sense for you to sell in one of the strongest markets ever seen in our area.  Land is also selling well now as well, as some buyers are turning their interest to building, since inventory choices are so limited.

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