It’s been a busy, beautiful summer and fall here in the Stowe area, one that was filled with lots of news, events, and happenings. As we transition to late fall and the upcoming winter season, we continue to monitor the state of the real estate market on a daily basis. The market continues to be influenced by similar trends to what we’ve seen over the past year and across much of the nation. Consumer confidence remains high, the stock market continues to reach all time highs, and interest rates remain very low. As we noted in the Mid-Year Report, another positive influence on the market is Vail Resorts purchasing operations at Stowe Mountain Resort. Many Buyers tell us this is an influential factor affecting their decisions to buy.
As we saw at the mid-point of this year, the number of residential home sales, in Stowe, decreased again for the first 9 months of the year - as compared to the same time period in 2016. Alternatively, condominium sales were up again, significantly. The main challenge in this market continues to be low inventory, which has had a fairly significant impact on buying and selling opportunities.
The market trends over the past year or more, continue to show strength and stability in our area. Keeping abreast of market trends is one of our dedicated and focused commitments to our Buyers and Sellers.
We are pleased to report that our office once again had sold most of the inventory in the area. In addition, we currently rank #5 overall in the state of Vermont, out of over 300.
Inventory Down, Navigating Today's Market. As we saw in Q1 low inventory remains the most influential factor affecting sales. When it comes to residential homes in the area, buyers have fewer choices, ultimately resulting in a decreased number of sales.
What has increased, in many cases, is the number of offers on a home. Which has led to increased sale prices in some instances. In fact, the sale price to town assessment ratio for all price ranges, went up for the first time in 7 years. We also saw an increase in the median and average sale prices of residential homes in Stowe for the first 6 months of 2017.
Buyer demand remains high, some of which is presumably tied to the Vail purchase of Stowe Mountain Resort. We’ve had buyers express this as their reasons for choosing to invest in Stowe real estate.
Interest rates are still low and remain steady, although we’ve seen an increase in cash offers since the Q1. The overall health and outlook for the market is good and stable.
Our experience and expertise in this competitive market, has enabled us to help advise our buyers and sellers to reach their goals and achieve the best outcome.
2017 CBCRE Market Reports
2016 CBCRE Market Reports
- 2016 Year-End Stowe Area Market Report
- 2016 3rd Quarter Stowe CBCRE Market Report
- 2016 3rd Quarter CBCRE Waterbury Market Report
- 2016 3rd Quarter CBCRE Lamoille Market Report
- 2016 Mid-Year CBCRE Stowe Market Report
- 2016 Mid-Year CBCRE Lamoille County Market Report
- 2016 Mid-Year CBCRE Waterbury Market Report
- 2015 Year-End CBCRE Report
- 2014 Year-End Smith Macdonald Report
- 2013 Year-End Smith Macdonald Report
- 2012 Year-End Smith Macdonald Report
- 2011 Year-End Smith Macdonald Report
- 2010 Year-End Smith Macdonald Report