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As we review the first quarter of 2024, the real estate markets in Stowe, Lamoille County, and Waterbury, Vermont, have exhibited distinct patterns of transition and adjustment. Each area responded differently to the underlying economic conditions, reflecting the unique characteristics and challenges of their respective markets. Here’s a closer look at how each area fared during this dynamic period.
Stowe
In Q1 2024, the Stowe real estate market showcased resilience despite significant price corrections. Sales volumes in single-family homes remained consistent year-over-year, though average sold prices dropped by 30.79% and median sold prices by 41.67%. The market saw a 15.38% increase in new listings, indicating seller optimism and possible market adjustments. Moreover, significant decreases in days on market for both single-family homes and condos suggest continued strong demand at adjusted price points.
Lamoille County
The real estate market in Lamoille County in Q1 2024 reflected a typical seasonal slowdown, with an overall decrease in activity. Sales volume fell by 11.43% and average sold prices by 22.71%, with a modest decrease in median sold prices. Despite fewer transactions, specific areas like Morristown and Eden showed strong growth in sales and prices, contrasting with a general market contraction. This indicates a market of mixed dynamics, with certain localities demonstrating resilience and potential for growth amidst broader market challenges.
Waterbury
Waterbury's market in Q1 2024 underwent significant shifts, with a 70% drop in the number of properties sold, countered by substantial increases in both average and median sold prices. The market's tightening was evidenced by an 18.18% decrease in new listings and a much quicker sales pace, indicating strong competition for well-priced properties.
The first quarter of 2024 revealed diverse adjustments across Stowe, Lamoille County, and Waterbury, with each area adapting to unique market conditions. Stowe adjusted to lower price points with quick sales, Lamoille County navigated seasonal slowdowns with pockets of growth, and Waterbury transitioned to a market focused on fewer, higher-value transactions.
Outside of national influences on the real estate market, local factors, such as what the state determines around property taxes, could have a larger influence on the direction in which each of these markets heads throughout 2024.
This dynamic period underscores the importance of nuanced market understanding and the value of expert local advice for navigating the evolving real estate landscape.
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In the fourth quarter of 2023, the real estate market in Stowe, Vermont, continued to evolve with notable trends and shifts.
In the fourth quarter of 2023, Lamoille County's real estate market exhibited a complex and evolving landscape.
In the fourth quarter of 2023, the real estate market in Waterbury, Vermont, presented a unique set of trends and developments.
In the third quarter of 2023, Stowe's real estate market displayed a variety of noteworthy trends. The overall landscape for single-family homes indicated a 16.00% dec… Read more
In the third quarter of 2023, Lamoille County's real estate market exhibited several significant trends. The overall landscape showed a decline in properties sold by 2… Read more
In the third quarter of 2023, Waterbury's real estate market showcased a series of intriguing shifts. For single-family homes, there was a decline of 23.81% in propert… Read more
The Stowe, Vermont real estate market demonstrated remarkable resilience and growth during the second quarter of 2023.
In the second quarter of 2023, there was a noticeable decrease in sales and new listings of single-family homes in Lamoille County, Vermont compared to the same period… Read more
The Waterbury, Vermont real estate market for single-family homes showed notable changes in Q2 2023 compared to the same period in 2022.
Buyer demand helped to keep overall values fairly even in Q1 2023 compared to a year ago, with properties trading on average within 97% of their final list price.
As we expand into all of Lamoille County, an area comprising 9 towns, in addition to Stowe, we see similar trends in reduction of sales volume and new inventory.
Waterbury saw a burst of activity in Q1 2023 compared to Q1 2022, with 9 homes trading compared to 4 last year.
Waterbury saw a decrease in terms of the number of sales, by 23% compared to a year ago.
In Lamoille County, an area comprising 9 towns, in addition to Stowe, there was a decrease in overall sales by 22%, which was reflected in the market as a whole.
Stowe saw a decrease in overall sales volume compared to Q4 2021, with a 29% decrease in Q4 2022.
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