Lamoille County, VT Real Estate Report | Stowe Blog

Lamoille County, VT Real Estate Report

Welcome to the Smith Macdonald Report, our examination of the 1st six months of the Lamoille County, VT residential and land real estate market. This report uses market-wide data based on transactions that closed in the first six months of 2014 and compares them to closings that took place during the first six months of 2013 and to Q1 2014. Closings usually occur four-to-eight weeks after a contract is signed for that reason, the sales activity charted here reflects transactions that closed during and through the end of the 2nd Quarter, and does not include contracts signed that have not closed.

Summer is in full swing in the Vermont with green stretching as far as one can see. We are quickly reminded of how wonderful summer can be in Vermont after the long winter season. Here at Coldwell Banker Carlson Real Estate we’ve welcomed the changing of the seasons with a change of our own, we’ve moved the office location to the Center Stowe Village. Our new location keeps us on Main Street, but also allows for us to invest in the Stowe & Lamoille County community.

Lamoille County, excluding Stowe, has remained steady with only slight growth with an 11% increase in units sold. This market continues to be driven by the sub $200K market, but is showing some signs of life above $300K in certain neighborhoods or areas.

A market in transition requires expertise to navigate it properly if you are a buyer you need to be fully educated and ready to move. As a seller proper pricing and marketing remain essential, but working with an expert who can produce the best results will have the greatest impact on your bottom line.  Whatever your real estate needs, Smith Macdonald Group is the market and technology leader and we encourage you to take advantage of every resource we can offer you.

Lamoille County Residential Sales

Lamoille County saw only slight improvements of 11% in homes sold compared to a year ago. There continues to be an oversupply of inventory, 222 homes, below $300K and a lack of increase in buyers. This dynamic will require a significant market shift either in pricing improvements or lack of inventory in markets like Stowe to break the status quo. The plus $300K price points have seen gains in sales due the lack of inventory in the lower end of the Stowe market.

Lamoille 2nd qtr 2014 Res

Lamoille County Land Sales

In terms of land sales there was no change in parcels sold compared to 2013, but there was a drop in both median and average pricing by 25% and 36% respectively. The inventory increased 14% and so did the months’ of supply, both of which add downward pressure on sales prices.

Lamoille 2nd qtr 2014 Land

Stowe, VT Real Estate |2014 Mid-Year Smith Macdonald Report | Stowe Blog

Stowe, VT Real Estate | 2014 Mid-Year Smith Macdonald Report

Welcome to the Smith Macdonald Report, our examination of the 1st six months of the Stowe residential and land real estate market.  This report uses market-wide data based on transactions that closed in the first six months of 2014 and compares them to closings that took place during the first six months of 2013 and to Q1 2014.  Closings usually occur four-to-eight weeks after a contract is signed for that reason, the sales activity charted here reflects transactions that closed during and through the end of the 2nd Quarter, and does not include contracts signed that have not closed.

Summer is in full swing in the Stowe area with green stretching as far as one can see.  We are quickly reminded of how wonderful summer can be in Vermont after the long winter season.  Here at Coldwell Banker Carlson Real Estate we’ve welcomed the changing of the seasons with a change of our own, we’ve moved the office location to the Center Stowe Village.  Our new location keeps us on Main Street, but also allows for us to invest in the Stowe community.

Stowe, VT Residential Sales

The 1st six months of 2014 continue to be very strong with growth in all areas of the market compared to the 1st six months of 2013.  Year to date the number of home sales is up 21%, this equals 11 more homes sold during this time period than the height of the market in 2006.  While at the same time inventory and months of supply continue to decrease, 11% and 22% respectively.  The lower inventory, buyer demand and strong financial markets have resulted in sales spreading out over the majority of price points, including an increase of 9% in sales between $1 million and $1.5 million.  The median and average residential sales prices increased 35% and 4%, respectively, with the median seeing a larger increase due to more higher-end homes trading.

Stowe 2nd Qtr Line Charts Res

Stowe, VT Units Sold 2014

 

 

Below you will see illustrated how the market has started to even out in sales below $1 million. 51% of market sales were below $500K, an increase of 9% from Q1 2014. 40% of the market falls between $500K and $1 million a 14% decline from Q1 2014, but still up significantly compared to just 28% a year ago. The luxury market consisted of 9% of the market a 5% increase from Q1.

Stowe 2nd Qtr Pie Chart

Stowe, VT Sales Percentages by Price

In the same categories, the chart below shows the relationship of sales price to list price.

Stowe 2nd Qtr List to Sold

Stowe, VT Sales to List Price

In terms of selling prices compared to town assessment, we continue to see numbers that range from slightly below in lower price points to well above in the luxury market. The sub $500K market is averaging 7% below assessment a bit lower than this time last year. The $500K to $1 million price point is tracking roughly at town assessment. The high-end market, $1 million to $1.5 million is transacting 14% above town assessment. This is mainly due to two sales that the Smith Macdonald Group facilitated this year that sold significantly above town assessment.

 

Stowe 2nd Qtr Assessment

Stowe, VT Sales to Assessment

 

Stowe, VT Condo Sales

Condominium sales show significant strength as well – up 67% in the 1st six months.   The amount of inventory of this category decreased slightly as well, down 6%, but more importantly the months’ of supply dropped by 43%, leaving a 23 months’ supply compared to this time a year ago.  There were however decreases in the median and average sales prices, 21% and 29% respectively, mainly because no condos over $600K were sold.

Stowe 2nd Qtr Line Charts condo

Stowe, VT Condo Sales

Stowe 2nd Qtr Main Charts condos

Stowe, VT Condos Sales by Price

 

In regards to how condos are selling in relation to town assessment you will see below on the sub $200K market there was a major correction between the 1st six months of 2014 compared to the 1st six months of 2013. In the $200K to $400K there was a 6% swing year over year, as a result of six more units being sold at lower prices. Above $400K there were only minor adjustments.

Stowe 2nd Qtr Condo Assessment

Stowe, VT Condos Sale Price to Assessment

 

Stowe, VT Land Sales

Land in Stowe has finally seen an increase in sales with 10 parcels sold over the 1st six months of 2014 compared to 6 in same time in 2013, resulting in a 67% increase. More importantly the inventory is still decreasing down 29% and the months’ of supply is down 57% to 35 months. The median pricing dropped 17%, while the average rose 47% as a result of one land sale well above $500K.

Stowe 2nd Qtr Line Charts land

Stowe, VT Land Parcels Sold

Stowe 2nd Qtr Main Charts land

Stowe, VT Land Sales by Price

 

Q1 2014 Lamoille County VT Real Estate | Stowe Blog

Welcome to the Smith Macdonald Report, our examination of the 1st three months of the Lamoille County VT residential and land real estate market. This report uses market-wide data based on transactions that closed in the first three months of 2014 and compares them to closings that took place during the first three months of 2013. Closings usually occur four-to-eight weeks after a contract is signed for that reason, the sales activity charted here reflects transactions that closed during and through the end of the 1st Quarter, and does not include contracts signed that have not closed.

Outside of Stowe, the rest of Lamoille County saw an increase in residential sales in the 1st quarter as well – up 38%.  This mirrors the increase seen when comparing the last quarter of 2013 to that of the year before. The median sales price increased 8%, and the average 32%.  The Inventory dropped even more significantly than Stowe – 27%.  The number of Land sales was just 1 less, and the amount of inventory there remained almost unchanged.  The majority of the home sales, 53%, were under $200,000.

Lamoille 1st qtr 2014 - Main Charts

 

Q1 2014 Waterbury VT Real Estate Snapshot | Stowe Blog

Welcome to the Smith Macdonald Report, our examination of the 1st three months of the Waterbury VT residential and land real estate market. This report uses market-wide data based on transactions that closed in the first three months of 2014 and compares them to closings that took place during the first three months of 2013. Closings usually occur four-to-eight weeks after a contract is signed for that reason, the sales activity charted here reflects transactions that closed during and through the end of the 1st Quarter, and does not include contracts signed that have not closed.

Further evidence of the Waterbury residential market continuing to be a tight one was highlighted by the consistent amount of low inventory seen there.  Residential sales increased a small amount.  Although the median price increased 23%, the average slipped 28%.  Land sales in Waterbury increased slightly as well; and as seen in all other categories, inventory dropped there too – 21%.  A decrease in inventory is a trend we are watching which could eventually lead to an uptick in pricing, as has been seen in other parts of the country.  Our market, in general, usually trends behind other markets, particularly areas with larger populations and demographics.

Waterbury 1st Qtr 2014 - Main Charts

Q1 2014 Stowe VT Real Estate Snapshot | Stowe Blog

Welcome to the Smith Macdonald Report, our examination of the 1st three months of the Stowe VT residential and land real estate market. This report uses market-wide data based on transactions that closed in the first three months of 2014 and compares them to closings that took place during the first three months of 2013. Closings usually occur four-to-eight weeks after a contract is signed for that reason, the sales activity charted here reflects transactions that closed during and through the end of the 1st Quarter, and does not include contracts signed that have not closed.

Vermont is finally showing signs of spring beginning to emerge after a very cold and snowy winter.  We’ve had an extremely busy winter with sales; and projections indicate continued growth.  Vibrancy continues in the village of Stowe as well, with the new restaurant Plate, and what is reported to be a new store keeper at Lackey’s.

The 1st quarter of 2014 can be characterized as one showing another marked increase in residential sales especially compared to the 1st quarter of 2013.   The number of home sales was up 60%!  That is the most significant increase we’ve seen since 2010, which at that time was around 27%.  A continuation of consumer confidence, buyer demand, low interest rates, and decline in inventory, are among the contributing factors.  Residential inventory continues to decrease – down 11% – which represents a 10 month supply which is 44% lower than the 1st quarter of last year.  The median and average residential sales prices soared 71% and 41%, respectively.

 

Stowe 1st Qtr 2014 - Residential Line Chart

Stowe 1st Qtr 2014 - Main Charts

Below you will see an interesting change in the selling price segments of the market.  The shift has been trending more toward home sales in the $500,000 – $1,000,000, rather than under $500,000.  The former price category has been increasing since the beginning of last year.  At this time last year 73% of the home sales were under $500,000; and 20% were between $500,000 – $1,000,000.  The $1,000,000 – $1,500,000 dropped a little to 4%, from 7% last year at this time; as well as the last quarter of 2013.  In the same categories, the chart below shows the relationship of sales price to list price.

Stowe 1st Qtr 2014 - Pie Chart

Stowe 1st Qtr 2014 - Sold to List

Condominium sales show continued strength as well – up 20% in the 1st quarter.   The amount of inventory of this category decreased as well, down 32%, leaving a 17 months’ supply.  There was little change in the median and average sales prices.

Condo

As for the land category, despite the inventory dropping 16%, there was no increase in the number of sales.  We believe we may have a bit more interest in land this spring and summer though, since land prices and residential inventory have both dropped.

Land

 

 

 

 

Stowe VT Real Estate Analysis | 2013 Year-End Smith Macdonald Report | Stowe Blog

Stowe, VT Real Estate Analysis

Stowe, VT Real Estate Analysis, Smith Macdonald Report

Stowe, VT Real Estate Analysis, Smith Macdonald Report

 

Welcome to the Smith Macdonald Report, our 2013 Year-End examination of the Stowe, Lamoille and Waterbury residential and land real e

state market.  This report uses market-wide data based on transactions that closed in 2013 and compares them to closings that took place during 2012.  Since closings usually occur four-to-eight weeks after a contract is signed the sales activity charted here reflects transactions that closed during and through the end of 2013, and does not include contracts signed that have not closed.

In 2013 the Stowe market saw a significant shift in total residential units sold not only year over year, a 10% increase from 2012 but more importantly a 75% increase in sales from the bottom of the market in 2009.  There were 82 total units sold in 2013, equaling a market high from 2005 and matching the largest amount of sales over a nine year period.  While the majority of price points held steady over 2013, the $500K to $1 million price point saw an increase of 42% in unit sales, helping to restore the middle ground in our market.  The increase in sales helped to push inventory down, with a 12% decrease in homes on the market compared to a year ago.  Our market is trending tow

ards a more balanced market in terms of supply.  The sub $500K market is where the majority of the sales continue, there is just over a seven months of supply, basically an even market.  Below $300K there is a shortage of inventory with only a four months supply.  The above $500K market has 11 months of supply of inventory, still a buyer’s market.

The Lamoille market (excluding Stowe) had a strong year with a 36% gain in units sold, with gains in the higher-end portion of the market finally breaking through.  The majority of sales still remain below $200K.  The Waterbury market remained stable with only slight drops in median and average pricing, but a 9% increase in units sold.

Smith Macdonald Group ranked 4th in the state of Vermont among all Coldwell Banker teams, the only team located outside the Burlington area, second in sales among all brokers in Stowe and Lamoille County and top 25 in all of Vermont.  Whatever your real estate needs in the coming year, Smith Macdonald Group is the market and technology leader and we encourage you to take advantage of every resource we can offer you.

Peggy Smith                                       McKee Macdonald

President/Broker                             Broker

802.793.3566                                      802.375.5009

SMG@smithmacdonaldgroup.com

 

Vermont Property Owners Report Market Update | Stowe Blog

Vermont Property Owners Report Market Update

vt prop cover_20131205124517_00001Smith Macdonald Group’s McKee Macdonald was featured in Vermont Property Owners Report Market Update regarding market conditions in Stowe, VT for December 2013-January 2014.  Vermont Property Owners Report is distributed throughout the state and covers all issues related to property owners.  They cover Vermont news, updates on the market, law & taxes, court decisions, interviews and sampling of recent sales from around Vermont.

For the Market Update in this issue they looked at the state as a whole with sales still improving state-wide, but Stowe and Manchester showing much improved numbers this year.  Here’s an excerpt featuring Smith Macdonald Group’s McKee Macdonald: “In Stowe, single-family home sales through October were up 21% from a year earlier, according to broker McKee Macdonald of Coldwell Banker Carlson Real Estate.  We have definitely seen prices tighten on the lower end, and that will creep up into the higher price ranges, he said.  He also reported an increase in the people looking in the $1 million to $1.5 million range.”

As we move toward the end of 2013, the numbers for sales in Stowe remain strong.  Look for our year-end report due out in early 2014.

Here’s the full Market Update from the Vermont Property Owners Report:

Vermont Property Owners Report Market Update

Here’s the 2013 mid-year Smith Macdonald Report:

2013 mid-year SM Report

 

 

Stowe VT Luxury Property Featured on Bloomberg | Stowe Blog

DSC02816

SMG’s Stowe, VT Luxury Property Featured on Bloomberg!

Smith Macdonald Group’s Stowe, VT Luxury Property, Le Château des Monts Verts, was featured on Bloomberg, under luxury homes for sale with chef-worthy kitchens.

This elegant couDSC02799ntry property is unique in quality, luxury and style. Reminiscent of a home in the French countryside, it was designed by world class architect Bruce Anderson, it is located more than 1,000 feet above Stowe Village and from virtually all rooms enjoy exceptional panoramic views west to the Green Mountains and Stowe Mt. Resort. The property sits just below 13,000 acres of environmentally protected Putnam State Forest providing total privacy. The open main level overlooks the large deck and includes a luxurious chef’s kitchen equipped with Meile, Sub-Zero and Thermador appliances, living room, dining room and a solarium that brings the outside in during every season; this main level is ideal for entertaining. From this level one can ascend via a custom crafted grand master staircase to two master suites each with Jacuzzi baths and excellent mountain views.

DSC02883The lower level has a large bath, a home theater with HD and surround sounds, a home office with custom cabinetry and a garden room for flower arranging and potting. This floor includes two very private walk out bedrooms to a large covered terrace. This terrace enters a lovely garden walk to the heated pool and cabana with a half bath and kitchenette. This is a smart house that includes a security system and a premium sound system in the main rooms and deck. This one of a kind home has finishes imported from France, Italy, Brazil and Canada, all blended beautifully with a local Vermont craftsmanship. These unique features, inside and out combine into a truly exceptional country home.

Bloomberg Homes for Sale with Chef-Worthy Kitchens.

 

Stowe, VT #2 Place To Ski Now | Men’s Journal | Stowe Blog

Winter View 1 (Large)Stowe, VT ranked #2 Place To Ski

In the November issue of Men’s Journal featuring the five best ski resorts in North America, Stowe, VT ranked number 2.  The combination of over 2,000 feet of vertical, history dating back to 1933 and a true New England village Stowe offers something for everyone.  The recent renovations and upgrades in the infrastructure and luxury at Stowe Mt. Resort have created a skiing experience that rivals many high-end resorts in the Rockies.

One of Stowe’s most famous skiers Tiger Shaw was recently named CEO of the U.S. Ski and Snowboard Association, which governs Olympic freeskiing and snowboarding in the U.S.  This adds to the long history of ski industry pioneers who have come from Stowe or chose to call it home.

Check out the Article below from Men’s Journal:

Stowe SnowLike all ski resorts in the Northeast, Stowe is a hostage to geography. But unlike any of the others, Stowe is a big mountain in miniature – 3,719 feet, with 2,160 feet of vertical, to be exact. It’s a steep, rugged crag of Appalachian relief with groomers as wide as interstates, some of the scariest bump runs in America, and glades and gullies that reward an adventurous spirit. “Stowe offers some of the steepest terrain in the country and is one of the few places on the East Coast where you can get the feel of big-mountain skiing,” says Chip Knight, a three-time U.S. Olympic team skier who has skied Stowe his entire life. “Hike up to the Chin or duck into the trees off Nosedive or Chin-Clip after a big snowstorm and you’ll even find some exceptional sidecountry skiing.”

Terrain aside, Stowe is also the rare resort with the one quality that separates a good ski town from a great one, no matter what part of the country you’re in: history. There’s a difference between a ski area that exists because it has good mountains and one that was a town before, with a farming or mining industry. It’s the difference between Vail and Aspen, Whistler and Revelstoke, or between pretty much any other resort in the East and Stowe.

Whittled out of the Green Mountains and drizzled in maple-syrupy charm, Stowe was a mill town, then a farm village, and then a kind of refuge for European immigrants who wanted a place to log and trap and mine that reminded them of home. It didn’t hurt, of course, that the state’s highest peak, Mount Mansfield, was there, on whose inclines these same immigrants began to climb up and slide down on trails cut by the Civilian Conservation Corps way back in 1933. Seven years later, the longest, highest chairlift in America was installed, broke down the first day, and then went on to run for nearly 50 years.

The modern world has long since arrived at Stowe in the few ways that really matter – a high-speed gondola, numerous high-speed quads, and the slope-side Stowe Mountain Lodge, a six-story, 312-room timber-and-stone temple to luxury that is one of the finest ski hotels in America. But to visit the town itself, you’d hardly know it. The main street (called, what else, Main Street) has steeples and taverns and actual candles burning in windows. The Matterhorn, everyone’s favorite après bar since the days when celebrities and Kennedys skied Stowe, is reachable on skis and looks pretty much the way it did when it opened, in 1950. When McDonald’s somehow managed to circumvent the town’s ferocious zoning laws, residents were so angered that they ignored it out of business.

“What attracted me is that it feels authentic,” says Scott Coggins, a 39-year-old who relocated to the village from New York City in 2010. “So many ski towns have activity on weekends, but they’re not real towns. People actually live here.” Once or twice a week in season, Coggins gets up, drives 20 minutes to the mountain, and is on the first lift at 8 am so he can get a couple of runs in before work. If it happens to have snowed the night before (not unlikely, since Stowe averages more than 300 inches a year, the most of any Vermont resort), he’ll go even earlier, hike up, and lay some of the first tracks in Goat Woods, one of the many glades on a mountain known for its trees and gullies. He definitely won’t be alone. “On real powder days, you can see people coming off the mountain with headlamps on.”

Winter Rendezvous 2014 | Stowe VT | Stowe Blog

 Winter Rendezvous Celebrates 30 Years!

Winter Rendezvous ad

 

The longest running gay ski weekend in the Northeast is celebrating 30 years of coming to Stowe, VT.  Stowe and Stowe Mountain Resort have played host to this fun and exciting crowd for 30 years and are looking forward to the next 30 years.  This year the Winter Rendezvous will take place January 22 to 26, 2014.

The weekend offers a full array of activities other than just skiing.  Each night offers entertainment, check here for the schedule.  Nightly activities.

If you’ve been before or this is your first time you probably have questions, well here are the answers. FAQ

They offer hotel packages, but if you prefer to stay in a ski home please contact us we have plenty of wonderful ski homes that can accommodate any size party and pets, because who can leave fluffy behind when it’s time to party in Stowe!  Ski rental homes.

For more information on the Winter Rendezvous, click below:

MJWAdventures.com offering GLBT travel& SCUBA Adventures.