Once a month The Kelly Realty Group updates local Market Statistics on our website StoweRealEstateForSale
Here is a copy of our latest Market Snapshot Report with all the data that we provide on our website
Single Family Home Sales
The Real Estate trends over the last 12 months are consistent across all three counties. The Months of Inventory in all three counties and all five towns have dropped significantly to 6 months or less indicating a big shift to a Seller's Market. The simple law of Supply & Demand can be easily seen in these results. Strong Sales have caused a significant drop in available Inventory, resulting in higher Prices and lower number of Days on Market.
This is the same case in the town of Stowe but is not necessarily the same situation in the neighboring towns. Most towns have experienced a significant increase in sales (except Waterbury which was relatively flat) and a significant decrease in Inventory and Days on Market however the Median Price has surprisingly dropped slightly in all towns but Stowe. This may be due to the increased sale of lower cost homes in the neighboring towns to Stowe since there is a extremely limited inventory of single family homes in Stowe under $500,000.
Take a look at the number of Stowe Single Family Homes sold in the last 12 months. There were 46 Single Family Homes sold in the last 12 months in the $300,000 to $599,999 price range. Today there are only 9 properties available in this price range, or 2.3 Months of Inventory as compared to the 6.2 Months of Inventory listed for Stowe Single Family Homes across all price ranges (See first chart).
If we take a look at the number of Stowe Single Family Homes sold in the "Current 12 Months" (April 2017 to March 2018) versus "Previous 12 Months" (April 2016 to March 2017) you will notice a significant drop in sales in the Under $399,999 price range (36 vs 21 units, or 42% decrease)). Strong sales in this price range has reduced the Months of Inventory down to under 4 Months. This may have pushed some prospective buyers during the last 12 months to purchase more expensive properties in the $400,000 to $599,999 price range (31 vs 18 units, or 72% increase).
Condo Sales
The Condo Market over the last 12 months has mixed results. Lamoille County has experienced a 40% increase in condo sales primarily because of the strong sales of condos in Stowe at 41%. Washington county was up 7% while Chittenden county was down -2%. Again the primary reason for sales in Chittenden county is due lack of Inventory with only 2 Months of Inventory available.
Stowe Condo sales have risen nicely over the last 5 Quarters, resulting in a 41% increase over the last 12 months.
This graph clearly depicts how the level of Stowe Condo inventory has dropped each Quarter for the last 6 Quarters.
Take a look at the number of Stowe Condos sold in the last 12 months. There were 55 properties sold in the $100,000 to $399,999 price range. Today there are only 21 properties available, or 4.6 Months of Inventory as to 8.1 Months of Inventory over the entire price range.
If we take a look at the number of Stowe Condos sold in the "Current 12 Months" (April 2017 to March 2018) versus "Previous 12 Months" (April 2016 to March 2017) you will notice a significant increase in sales in the Under $500,000 price range (67 vs 47 units, or 30% decrease). Strong sales in this price range has reduced the Months of Inventory down to under 6 Months.
Land Sales
Land sales continue to increase as prospective home buyers search for other options due to the lack of available Single Family Homes and Condos on the market.
If you own property in the Stowe area and are considering selling anytime in the near future contact The Kelly Realty Group immediately to set up a Free Seller Consultation to discuss how we can take advantage of the market conditions to maximize what you net in your property sale.
For more in-depth information on our featured towns please visit our website:
Note : Be sure to click on the additional links for a deeper dive into each county and town.
This Quarter's Featured Listings :
Listing #1 / 202 Draper Farm Road Elmore, VT
Unique Property / Many Possibilities
Simply use existing warehouse space for storage or workshop with easy access to Rt 12
or
Build a nice home with a view of Elmore Mountain with easy access to Elmore State Park
or
Start your own farm with plenty of storage for your equipment and food processing
This beautiful 4.33-acre parcel sits on a quite dead end road located in the heart of Lake Elmore. The home site has wide-open views of Elmore Mountain and Lake Elmore with a wastewater permit for a 3-bedroom house in place.
The lot includes a large storage building / workshop built by Morton Builders in 2012 with dimensions of 60' length x 42' width x 11' height. Zoning would allow for subdivision and also the potential for a home business leaving many potential uses for this lot.
Enjoy easy access to the lake and state park with sand beaches and hiking trails to Elmore's Fire Tower. This location provides easy access to the VAST Trail Network. This must see lot is only 10 miles to Morristown for all your shopping needs, 15 miles to downtown Stowe and 20 miles to Montpelier.
Open House this Saturday 04/21/18 from 10:00AM-1:00PM. Refreshments will be provided.Listing #2 / 46 Barrows Lane Eden, VT
Lakefront Property
PRICE REDUCED $10,000 to $240,000 !!!!!
Enjoy Lake Eden year round in this 1,845-square foot lakefront home situated on a 0.54-acre lot with 177 feet of private lakefront.
The home has an open floor plan with a large dining room and attached living room both with glass doors leading to your large deck overlooking the lake, including vaulted ceilings showcasing a propane stove with a large stone chimney.
Beautiful stone and wood stairs lead to an additional deck landing which is perfect for enjoying your morning coffee and taking in the wildlife on the quiet lake. The stairs continue down to a flat grass landing where there is a storage shed to conveniently store all of your gear for the water. There is a one-car garage that is perfect for storing your boat during the winter and plenty of additional parking for guests. Centrally located between Jay Peak, Smugglers Notch and Stowe Mountain Resorts. This lakefront home is a must see!
For more details click on the link below
http://stowerealestateforsale.
Our Team is Growing. Please welcome Julia Booth, our newest member to the Team.
I’m Julia Booth, a Buyer Specialist on The Kelly Realty Group at KW
Vermont. Having lived in Vermont for 26 years, I am very familiar
with the area and will work to make the purchase of your new
home a smooth and fun transaction !
Cell:802-461-6712
Email: julia@kelly-realty-grou
The Kelly Realty Group "Your Trusted Real Estate Consultants"
Voted "2017 Best Real Estate Agent" by local patrons of the "Stowe Reporter", "Waterbury Record" & Lamoille County's "News & Citizen"
We are the leading experts on the local real estate market and your best source for representation when you are looking to purchase or sell real estate. We strongly recommend that you utilize our professional real estate team to assist you with all aspects of your real estate transactions and negotiations.
We are happy to provide you with a Free Seller or Buyer Consultation to discuss the benefits of working with The Kelly Realty Group.
Call us today and set up a convenient time to discuss how we can help you with your real estate goals.
Looking forward to hearing from you.
Sincerely,
The Kelly Realty Group
Cell: (802) 503-2488
Email: joe@kelly-realty-group.
Pete Kelly Team Leader
Cell: (802) 922-6146
Email: pete@kelly-realty-
Caitlin Kelly
Email: caitlin@kelly-realty-
Julia Booth
Cell:802-461-6712
Email: julia@kelly-realty-