Teresa Merelman, ABR, CRS, e-PRO, RSPS, GREEN

Stowe Vermont Condo and Townhome Sales - Market Report 2005 through 2011

Stowe, Vermont as a four season resort has many condo/townhome projects. The majority of these properties are owned by second home and vacation home owners. As a result of the tightening of banking regulations, mortgage companies have made the purchase of condos, especially in a resort town, much more difficult. Below are market statistics by year with accompanying charts. You can click on the charts to enlarge them. The statistics are from the the Northern New Enlgand Real Estate Network MLS. The majority of sales are reflected in these market reports.

2005 Stowe Vermont Condo Sales
# of Units Sold: 46
Average List Price: $364,415 Average Sale Price: $352,040
Median List Price: $352,000 Median Sale Price: $345,000
Average # of Listings: 43
Average Price per Finished Square Foot Sold: $239
Average Days on Market: 103

2006 Stowe Vermont Condo Sales
# of Units Sold: 39
Average List Price: $440,215 Average Sale Price: $419,273
Median List Price: $295,000 Meidan Sale Price: $285,000
Average # of Listings: 66
Average Price per Finished Square Foot Sold: $234
Average Days on Market: 151

2007 Stowe Vermont Condo Sales
# of Units Sold: 27
Average List Price: $459,530 Averag Sale Price: $437,752
Median List Price: $399,900 Median Sale Price: $387,000
Average # of Listings: 73
Average Price per Finished Square Foot Sold: $252
Average Days on Market: 222

2008 Stowe Vermont Condo Sales
# of Units Sold: 23
Average List Price: $326,300 Average Sale Price: $294,261
Meidan List Price: $220,000 Median Sale Price: $220,000
Average # of Listings: 78
Average Price per Finished Square Foot Sold: $202
Average Days on Market: 289

2009 Stowe Vermont Condo Sales
# of Units Sold: 17
Average List Price: $401,970 Average Sale Price: $368,530
Median List Price: $310,000 Median Sale Price: $299,000
Average # of Listings: 88
Average Price per Finished Square Foot Sold: $237
Average Days on Market: 296

2010 Stowe Vermont Condo Sales

# of Units Sold: 27
Average List Price: $367,093 Average Sale Price: $338,275
Median List Price: $329,000 Median Sale Price: $295,000
Average # of Listings: 111
Average Price per Finished Square Foot Sold: $196
Average Days on Market: 244

2011 Stowe Vermont Condos Sales

# of Units Sold: 24
Average List Price: $471,708 Average Sale Price: $432,372
Median List Price: $404,500 Median Sale Price: $372,500
Average # of Listings: 110
Average Price per Total Finished Square Foot Sold: $218
Average Days on Market: 248

Comparison Chart - Stowe Condo Sales 2005 through 2011

SUMMARY - The number of condo sales decreased slightly from 27 to 24. The Average List Price of condo sold increased from $359,267 to $442,500 and the Average Sale Price increased from $320,000 to $404,167. The average price per total finished square foot also rose from $196 to $218.

The average inventory remained about the same from 111 units in 2010 to 210 in 2011. The Average Days on Market rose slightly from 244 day to 248 day.

Overall, Stowe condo market activity has slowed a bit, but prices have increased. The inventory and type of condo (low association fees vs. higher fees with amenities) offer a wider variety of choices.

It appears to be a great time to buy, but potential buyers need to understand their financing options.

My office, Stowe Realty, also handles rental properties. The activity/demand for rentals over the past holidays was signicant. We did not have enough properties to rent. As the snow continues to fall, the calls keep coming in. If one is looking for a property with rental potential, please know that rental income is a great way to help support your investment. There is no guarantee though, that you will have a net profit.

Search for Condos and Townhomes Available Here

Stowe Realty - Rental Website

For other Stowe Vermont Market Reports, click on the links below:

Stowe Vermont Home Sales Report - 2005 through 2011

Stowe Vermont Land Sales Report - 2005 through 2011

Need help? Give me a call at (802) 793-5171 or e-mail Teresa@StoweUSA.com

The compilation of information is copyrighted and may not be reprinted or used without my permission.

Stowe Vermont Land Sales - Market Report for Years 2005 through 2011

Now that 2011 is over, I have been compiling my year end data for my sales reports. Land is hard to quantify because prices vary so much based on factors not easily apparent. Such factors include:

1. Size of Lot - Generally, the larger the lot, the less it will cost based on a per acre formula.
2. Location of Lot - Some neighborhoods are definitely more desirable.
3. Views from Lot - a View of Mt. Mansfield can definitely command a higher price.
4. What's Included in the Price? - Survey, Septic Design, Subdivision, Covenants, View Easements, Power to Site, Fuel availability, Access/Driveway, Required Clearing, Topography (blasting costs), Ridgeline Overlay District, Land Gains Taxes, and the list goes on....

The obvious appeal of land to buyers is that you can build what you want. Vermont, like most of New England, tends to have older homes. I recently represented successful buyers of large Stowe parcel. The new owners plan to build a "GREEN" home using solar and wind as their primary sources of energy. I look forward to watch the construction of this home and feel it will be a great asset to Stowe.

Below are the Statistics for Stowe Land Sales. They are based on land sold and reported through our MLS system and therefore do not reflect private sales. Click on the appropriate chart for a Larger Version of Sales History:

STOWE LAND SALES 2005:

Average List Price $478,020 Average Sale Price $444,225
Median List Price $310,000 Median Sale Price $295,000
Avg. # Listings/Month: 30
# Sold: 20
Avg. Price/Acre Sold $36,650

STOWE LAND SALES 2006:

Average List Price $342,200 Average Sale Price $316,472
Median List Price $286,250 Median Sale Price $258,750
Avg. # Listings/Month: 60
# Sold: 12
Avg. Price/Acre Sold $38,551

STOWE LAND SALES 2007:

Average List Price $577,711 Average Sale Price $498,947
Median List Price $375,000 Median Sale Price $350,000
Avg. # Listings/Month: 65
# Sold: 19
Avg. Price/Acre Sold $31,580

STOWE LAND SALES 2008:

Average List Price $472,231 Average Sale Price $412,962
Median List Price $295,000 Median Sale Price $278,000
Avg. # Listings/Month: 55
# Sold: 13
Avg. Price/Acre Sold $30,270

STOWE LAND SALES 2009:

Average List Price $504,714 Average Sale Price $413,429
Median List Price $495,000 Median Sale Price $400,000
Avg. # Listings/Month: 60
# Sold: 7
Avg. Price/Acre Sold $39,517

STOWE LAND SALES 2010

Average List Price: $359,267 Average Sale Price: $320,000
Median List Price: $250,000 Median Sale Price: $187,000
Avg. # of Listings/Month: 65
# of Lots Sold: 9
Avg. Price/Acre Sold: $56,720

STOWE LAND SALES 2011

Average List Price: $442,500 Average Sale Price: $404,167
Median List Price: $310,000 Median Sale Price: $262,500
Avg. # of Listings/Month: 79
# of Lots Sold: 6
Avg. Price/Acre Sold: $60,308

COMPARISON CHART of Stowe Land Sales - 2005 through 2011

Summary - The number of sales in 2011 were down over 2010. The Average Lot Size was 6.7 acres. The smallest lot sold was .23 acres located on Spruce Peak and sold for $1,100,000. The largest lot sold was 10.8 acres and sold for $275,000.

Land inventory is a bit up and days on market is down.

I further note that land sales have been down since earlier years. Generally, landowners have a lower holding cost compared to home/condo owners and do not tend to be as motivated to sell as home owners. The value of land is inherit to it's uniqueness and the ability of the owners to build the home of their of their dreams.

Stowe has some great lots on the market! CLICK HERE FOR ALL STOWE LAND FOR SALE
We have some great builders in the area who would be happy to build your Dream Home.

Also, see my reports for:

Stowe Vermont Home Sales - 2005 through 2011

Stowe Vermont Condo/Townhome Sales - 2005 through 2011

Contact me for additional information about Stowe Land for Sale and the Stowe Real Estate Market.

Please note that the above compilation of sales information is Copyrighted and may not be reprinted or used without my written permission.

Stowe Vermont Home Sales - Market Report 2005 through 2011

Stowe, Vermont is a beautiful, four season resort town. Stowe has a full time population of about 4,500 people. Many of Stowe homes and condos are vacation and second homes. Below are market statistics by year and a chart for each year. The data used is from the Northern New England Real Estate Network MLS. Most of Stowe's sales are through the local MLS. You can click on the charts for enlarged versions. Towards the end of this article, is a year to year comparison.

2005 Stowe Home Sales
# of Homes Sold: 82
Average List Price: $735,080 Average Sale Price: $682,000
Median List Price: $495,000 Median Sale Price: $475,000
Average Number of Homes on the Market: 74
Average Price per Finished Square Foot Sold: $224
Average Days on Market: 135

2006 Stowe Home Sales
# of Homes Sold: 74
Average List Price: $680,177 Average Sale Price: $637,664
Median List Price: $549,000 Median Sale Price: $507,500
Average Number of Homes on the Market: 95
Average Price per Finished Square Foot Sold: $214
Average Days on Market: 150

2007 Stowe Home Sales
# of Homes Sold: 74
Average List Price: $710,001 Average Sale Price: $652.098
Median List Price: $499,000 Median Sale Price: $450,000
Average Number of Homes on the Market: 109
Average Price per Finished Square Foot Sold: $219
Average Days on Market: 197

2008 Stowe Home Sales
# of Homes Sold: 52
Average List Price: $556,960 Average Sale Price: $535,481
Median List Price: $492,000 Median Sale Price: $445,000
Average Number of Homes on the Market: 135
Average Price per Finished Square Foot Sold: $202
Average Days on Market: 215

2009 Stowe Home Sales
# of Homes Sold: 46
Average List Price: $603,757 Average Sale Price: $542,022
Median List Price: $494,000 Median Sale Price: $456,250
Average Number of Homes on the Market: 133
Average Price per Finished Square Foot Sold: $185
Average Days on Market: 165

2010 Stowe Home Sales

# of Homes Sold: 57
Average List Price: $692,109 Average Sale Price: $625,321
Median List Price: $529,000 Median Sale Price: $490,000
Average Number of Homes on the Market: 141
Average Price per Total Finished Square Foot Sold: $191
Average Days on Market: 225

2011 Stowe Home Sales

# of Homes Sold: 69
Average List Price: $679,939 Average Sale Price: $616,886
Median List Price: $489,000 Median Sale Price: $426,000
Average Number of Homes on Market: 126
Average Price per Total Finished Square Foot Sold: $190
Average Days on Market: 277

STOWE VERMONT HOME SALES - Comparison of Sales from 2005 through 2011:

Stowe Vermont sales data shows that Stowe Home Sales in 2011 have significantly increased over 2009 by 50%. In fact, the number of transactions was up about 21% from 2010. The average number of listings decreased about 11%. The average price per finished square foot sold remained level at $190/sf. The average list price was about 3% lower than 2010 and the average sale price was about 1.5% lower than 2010.

Although the 2011 numbers appear to show that real estate has picked up, we are not at the quantity of sales and higher price levels pre-recession.

I have been a Realtor in Stowe since 1998. This is still a GREAT time to buy! Take advantage of the higher than normal inventory, the still lower than normal prices, the low mortgage interest rates. Click on the links below for MLS information on homes for sale in Stowe, Vermont:

Stowe Vermont Homes for Sale $50,000 to $500,000

Stowe Vermont Homes for Sale $500,000 to $1,000,000

Stowe Vermont Homes for Sale $1,000,000 plus

MLS Search for Stowe Vermont Real Estate - Various search options including Condos, Land, Commerical, and Multi-Family properties for Sale.

Also, feel free to visit my other Market Reports for Stowe VT Real Estate:

Stowe VT Condo/Towhome Sales - 2005 through 2011

Stowe VT Land Sales - 2005 through 2011

Feel free to contact me for additional information about Stowe Real Estate.

Please note that the above compilations of sales information are Copyrighted and may not be reprinted or used without my written permission.

Christmas Photo Challenge - Stowe, Vermont

Today, Nov 25, 2011, is the first day of "The Christmas Photo Challenge". I love Christmas time so am excited to submit photos dedicated to this special time of year.

In case you missed Joni Staples' Post about this Non-Activerain Challenge, here's the blog:
http://activerain.com/blogsview/2607852/christmas-photo-challenge-a-non-activerain-sponsored-contest-

Since Thanksgiving just ended, I was hoping to find some of the local Stowe stores decorated for Christmas. I was not disappointed. My first photo is of a stuffed bear that is always decorated for the appropriate holiday in front of a store called Shaws General Store which is located in Stowe Village.

BEAR IN FRONT OF SHAWS GENERAL STORE - Stowe Village, Vermont

11 11 11 11 - in Stowe, Vermont - A Veteran's Day Salute!

Today is November 11th, 2011 - thus 11 11 11. At 11:00 a.m. Stowe had it's annual Veteran's Day Ceremony. This event is always attended by a small group of locals who are always there. It happened to be a great November day with a partial sun and cool - around 45 degrees.

The flag in front of the Akely building was at half mask. The Veterans were wearing their special gear. Prayers were said in honor of the all the veterans. And many tears were shed - too many memories.... Although I was not in the military, I was raised in an Air Force Family. My father served in WWII, the Korean War and the Vietnam War. He is 93 yoa and doing quite well down in Florida. Two of my brothers also served in the Air Force. Although neither were killed in action, both passed away and are at rest in the Arlington National Cemetary.

So my love of country runs deep through my blood. I can still hear "Taps" as it was played everyday on the Air Force Bases - we'd stop our cars and salute whenever we heard it.

One of the many things I love about small towns in Vermont - Stowe in particular - is that these traditions are still honored and are easy to be a part of. You know most of the people there and their stories.

Some say that 11/11/11 is lucky. Some say it's a day when bad things can happen. I think 11 11 11 11 is just perfect for our remembrance of our Veterans. God bless them and keep them always. Thank you Veterans! We do appreciate all you have done and continue to do for our country!