Peggy of the Smith Macdonald Group has provided the Stowe, VT, market with exceptional service for over 40 years and continues to do so. Joined by her son McKee and daughter Maggie, this award-winning family business has earned the trust of buyers and sellers by demonstrating an unparalleled commitment to the local community.
We are here to help you navigate our market with all our years of expertise at your disposal. Call or email us today and let us know how we can help you through the buying or selling process.
You can reach us at 802-375-5009 or email@example.com
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View our latest Market Report below:
Low Inventory Continues to Drive Local Markets. As 2019 came to a close, so did a decade. As we have witnessed consistent growth in real estate sales in northern Vermont over the past 10 years, we specifically take a closer look at the trends affecting the market overall, over the past year. Our market area continues to be one of considerable desirability and demand for many reasons, most of which have to do the beneficial lifestyle offered here. Whether people are looking to buy their first home or to make an investment in a vacation or rental property, there are many good reasons to invest in our region. Regardless of price range, interest rates have consistently remained low, continuing to offer consumers the ease and ability to obtain a mortgage for their new property, at very favorable rates.
Low inventory remained a challenge for buyers; and as a result, sellers retained the enviable position of having their properties meet with a high level of interest and demand. It was not uncommon for sellers to benefit from multiple offers in some cases, last year and the year before. Not all price ranges were in demand though, as luxury home sales were again the exception, rather than the rule. Sales in this category in Stowe, for instance, represented only 16% of all sales in 2019, yet, the current luxury home inventory available at year-end was almost half of the total available properties, with the highest-priced property listing at $12M.
In other price ranges, home sales have been on the rise for the most part since 2009, although by the end of the year they had actually decreased just slightly in Stowe and Lamoille County North. This likely had to do with the persistent trend of lack of inventory for buyers to choose from, the percentages of which were all lower.