STOWE VERMONT REAL ESTATE MARKET - STATISTICS ON HOME, CONDO AND LAND SALES - October 1, 2009
The Stowe Vermont Real Estatehas completed three quarters of sales history in 2009. So I thought it would be an appropriate time to take a look at the sales, pendings, and active listings for Stowe Homes, Condos and Land. The data was compiled from our MLS system and does not include private sales.
STOWE VERMONT HOMES MARKET:
As of 10/1/2009, there have been 23 homes sold. The average list price was $533,957 and the average sale price was $481,896. The Average Days on Market was 164. The median list price was $435,000 and median sale price was $399,000. The Median Days of Market was 151. The Average Price per Finished Square Foot Above Grade Sold was $193. There are 149 Active Homes on the market as of 10/1/09. There are 14 homes "Pending" with 5 priced between $0 - $500,000, 6 priced between $500,000 and $1.0m, and 3 priced above $1.0m. Stowe is certainly seeing an increase in home contracts.
CHART OF STOWE HOME SALES AS OF October 1, 2009
COMPARISON TO 2008: In 2008, a total of 52 homes sold. The average list price was $556,960 and average sale price was $535,481. The median list price was $492,000 and the median sale price was $445,000. The average DOM was 215 and the median DOM was 171. The average price per finished square foot above grade was $202.
COMPARISON TO 2007: In 2007, a total of 74 homes sold. The average list price was $710,000 and the average sale price was $652,098. The median list price was $499,000 and the median sale price was $450,000. The average DOM was 197 and the median DOM was 161. The average price per finished square foot above grade was $219.
STOWE VERMONT CONDO MARKET AS OF OCTOBER 1, 2009:
As of October 1, 2009 there have been 11 condos sold. The average list price was $428,727 and the average sale price was $387,420. The median list price was $299,500 and the median sale price was $290,000. The average DOM was 366 and the median DOM was 300. The average price per finished square foot above grade was $213. There are 100 condos actively on the market and there are 3 condos pending.
CHART OF STOWE CONDO SALES AS OF OCTOBER 1, 2009
Comparison to 2008: In 2008, 23 condos sold. The average list price was $326,300 and the average sale price was $294,261. The median list price was 220,000 and the median sale price was $220,000. The average DOM was 289 and the median DOM was 242. The average price per finished square foot above grade was $202.
Comparison to 2007: In 2007, 27 condos sold. The average list price was $459,530 and the average sale price was $437,752. The median list price was $399,900 and the median sale price was $387,000. The average DOM was 222 and the median DOM was 163. The average price per finished square foot above grade was $252.
STOWE VERMONT LAND SOLD AS OF OCTOBER 1, 2009
As of October 1, 2009 there have been 4 lots sold. The average list price was $627,250 and the average sale price was $511,250. The median list price was $647,500 and the median sale price was $560,000. The average DOM was 332 and the median DOM was $125. The average price per acre was $55,860. As of October 1, 2009, there were 57 lots actively on the market. There is 1 lot pending.
CHART OF STOWE LAND SOLD AS OF OCTOBER 1, 2009
Comparison to 2008: In 2008, 13 lots sold. The average list price was $472,231 and the average sale price was $412,962. The median list price was $295,000 and the median sale price was $278,000. The average DOM was 464 and the median DOM was 350. The average price per acre sold was $30,270.
Comparison to 2007: In 2007, 19 lots sold. The average list price was $577,711 and the average sale price was $498,947. The median list price was $375,000 and the median sale price was $350,000. The average DOM was 217 and the median DOM was 149. The average price per acre sold was $31,580.
GENERAL COMMENTS: As in many markets, Stowe has a higher inventory of homes, condos and land than in the past. The average and median prices have gone down, the number of sales have decreased, and the days on market has increased.
STOWE CHART OF ACTIVE LISTINGS AS OF OCTOBER 1, 2009
At this time, it appears that homes are getting the most attention from potential buyers. Stowe has many vacation, 2nd homes, and investment properties. There are some very good buys right now. You just need to know where the real value is!
Below are links to Stowe Vermont Real Estate:
Stowe Vermont Homes For Sale
Stowe Vermont Condos for Sale
Stowe Vermont Land for Sale
Feel free to give me a call whether you are thinking of buying a property, selling a property, or just want to talk about the market conditions!
Teresa Merelman, Broker
ABR, CRS, e-PRO, GREEN, RSPS
Stowe Realty
(802) 253-8484 - Office
(802) 793-5171 - Cell
Teresa@StoweUSA.com
www.StoweUSA.com
VERMONT UPDATES SEX OFFENDER REGISTRY WEB SITE - October 1, 2009
Beginning October 1, 2009, the Vermont Sex Offender Registry Web Site has been updated to add persons meeting any of the following criteria:
For more information about the Vermont Sex Offender Registry:
The list allows for a search of offenders by name, town or county. One will be able to see photographs, physical descriptions, crimes, conviction dates, treatment status, and whether the Dept. of Corrections considers the offender as high risk. According to an article in the Burlington Free Press (written by Nancy Remsen) the expanded registry does not include the names of about 300 offenders who live in Vermont but were convicted elsewhere. Apparently a drafting glitch in the new law mistakenly exempted this category of offenders from the internet posting requirement.
To search for individuals within Vermont by name, town or county:
As I was researching the above information, I wondered where Vermont stands compared to other states in the area of crime statistics. Vermont came in number 48 - better not to be in the top 3 here. Below is a chart from the FBI Uniform Crime Reports (2007)
I also found the FBI TOP 10 MOST WANTED SITE - Yes, Bin Laden is still there! Here's quick access to it:
I applaud Vermont for updating the Sex Offender Registry! I realize that this was primarily done because of public pressure given some recent incidents. Please keep the list current and add those from out of state.
Teresa Merelman, Broker
ABR, CRS, e-PRO, GREEN
Stowe Realty
Stowe, Vermont 05672
Teresa@StoweUSA.com
www.StoweUSA.com
Vermont Foliage - Here Come the Leaf Peepers!
Well, it's September 26th, 20009 and Stowe, Vermont has become a haven for the Leaf Peepers. They come from all over the world - Europe, Australia, Canada, Japan and Vermont's neighbors - Massachusetts, Maine, New York, and let's not forget New Jersey.
They come by plane, by car, by bike, by motorcycle and my favorite - by bus. Buses are filled with "blue" haired folks who walk around town with ID cards hanging around their necks. For a period of about 3 weeks, Stowe and other Vermont towns become overrun by tourists. If you live here, it can be a bit frustrating because they drive differently. They stop in the middle of the road and just look at the scenery! Can you believe it? Also, the shops, restaurants, rec paths, and golf courses fill up with these leaf peepers. Since Stowe is a tourist town, this is certainly expected and welcomed.
I have lived in Stowe for 22 years. I am a flat lander and am primarily from the Washington D.C. area. You have to be born in Vermont to be considered a Vermonter. Every year, around this time, I am totally captivated by the beauty of nature. Just walking my dog is Stowe Hollow is a treat as all the amazing colors surround me. The two most utterly amazing foliage days I remember were: Snow at 
peak foliage - bright colors surrounded by new snow ; and Double Rainbows at full foliage - almost too much color for my eyes to take in. I guess you can tell that this is my favorite time of year.
If you decide to come up, here are some activities you can do:
Very Comprehensive Site: Stowe Area Association - includes local events, shops, plays, etc.
Go Soaring with Stowe Soaringat the Morrisville Stowe Airport
Visit Cold Hollow Cider Mill and Ben and Jerrys in Waterbury Center, Vermont
Site-Seeing Tours with Mountain View Tours
Many Stowe, Vermont visitors are happy just to walk around Stowe Village and stop in the various shops. Plus, we have a very popular Stowe Recreation Path that starts in the Village and winds along the West Branch River, up the Mountain Road, and to the Covered Bridge close to Topnotch. And best of all - it's free! I hope that when I am in my 70's and 80's, I will be one of those "blue" haired ladies from the bus tours that takes the time to appreciate the simple pleasures of nature!
Another great activity is to Look For Homes! My office is located right on the Mountain Road in Stowe. I'd be happy to show you some of the areas homes, condos, or land. You can always check out Stowe Vermont Homes on my web site. Here's a Link Stowe Vermont Homes For Sale.
Here's a photo I took today from the Stowe Realty Parking Lot. Hurry and visit Stowe before the color fades away this year. Of course, next comes Ski Season! But that's another Blog.
Teresa Merelman, Broker
ABR, CRS, e-PRO, GREEN
Stowe Realty
(802) 793-5171 - Cell
Teresa@StoweUSA.com
www.StoweUSA.com
Stowe, Vermont Real Estate Auctions
On Friday, September 11th, 2009, I attended two real estate auctions in Stowe, Vermont. I have been a Realtor in Stowe since 1998 and have never been to a real estate auction. As a former Bed and Breakfast owner in Stowe, I used to attend many furniture auctions. They were always a lot of fun and I certainly was able to purchase some great antiques for the bed and breakfast.
In these trying times, I think we will see more properties going into foreclosure. Some on the auction block.
I decided to witness the auctions for three reasons: 1. To gain a better understanding of what happens at real estate auctions; 2. Had a potential buyer interested; and 3. I absolutely love the two properties on the block.
The photos of the auction properties were provided by Thomas Hirchak Company located in Morristown, VT and the Auctioneer of the real estate.
The first property is known as Staffords. It is located in the heart of Stowe Village. It used to be operated as a 
Vermont Country Store, Pharmacy, and Funeral Home. It also has 5 apartments. It has long been an icon in the Village. Many interested folks attended the auction. Most appeared to be curious locals, but there were definitely some serious buyers.
As a joke, the auctioneer started the bid at $5,000,000. Eventually, a starting bid was placed for $500,000. The auctioneers quickly picked out the serious parties and the bids went back and forth between them. It is always fascinating to watch the eye contact between the bidders and the auctioneers. Eventually, an investment group had the winning bid at $885,000. That was a hell of a good buy. Plus, it sounds like they have the right idea for the best use of the property and the desire to bring more vitality to the heart of Stowe!
The second property is known as Tandragee. It is a grand and beautifully located home in Stowe Hollow. 
I have had the pleasure of showing it to perspective buyers a few times and have always been awed by the views and gracious grandeur of Tandragee.
Once again, several interested parties previewed the property. The auctioneer started the bid at $500,000. Unfortunately, no one was able to match the bank's minimum. It sold back to the bank for $1,440,000. I guess we will see it back on the market at some point in time.
Another "famous" property will be auctioned off on Friday, September 25, 2009 by Thomas Hirchak Company. It 
is known as Winding Brook Lodge and is a 15 room lodge located on Edson Hill Road in Stowe. This one is a typical ski type lodge with lots of character. I hope the right buyer comes along and is able preserve this property's uniqueness and history.
Vermont has the lowest foreclosure rate in the country. It appears though that some property owners have become victims of the recession. And I must say that it is sad to see this...
I hope I do not have very many more occassions to attend real estate auctions in Stowe.
Teresa Merelman, Broker
ABR, CRS, e-PRO, Green
Stowe Realty located in Stowe Vermont
(802) 253-8484 Office
Teresa@StoweUSA.com
www.StoweUSA.com
Vermont Home Property Search - Properties with "GREEN" Attributes in Lamoile and Washington Counties
MLS "GREEN" Search
Many potential buyers of real estate look for properties that are "green". This concept has many level of attributes. I have just completed the National of Association of Realtors® GREEN certification two day course. As a result, I am learning about the various ways a home can qualify for levels of energy efficiency, material recycling, and green construction.
Below are Links to the MLS system based on Lamoille County (Stowe, Morristown, Elmore, Hyde Park, Johnson, Wolcott, Jeffersonville etc.) and Washington County (Waterbury, Duxbury, Moretown, Montpelier, etc) inventory.
This is an effort to help you find properties that have "Green" qualities.
For more information about Going "Green", check out "Green Resources".
LAMOILLE and WASHINGTON COUNTIES of VERMONT:
Properties with ENERGY RATED as a document
Properties with ENERGY CERTIFIED as Type
Properties with GREEN CONSTRUCTION as Type
Properties with GEOTHERMAL HEAT as a source of water heat
Properties with RADIANT HEAT as a source of heat
Properties with SOLAR HEAT as a source of heat
Properties with SOLAR WATER HEAT as a source of water heat
For more information about properties in the area or about "GREEN" Resources, feel free to contact me!
Teresa Merelman, BROKER
ABR, CRS, e-PRO, GREEN
Stowe Realty
Stowe, VT 05672
(802) 253-8484 - Office
(802) 793-5171 - Cell
Teresa@StoweUSA.com
www.StoweUSA.com
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Stowe Realty services the Lamoille & Washington County areas of Vermont. We handle sales & rentals. Primary towns include Stowe, Waterbury, Morristown, Hyde Park, Johnson & Elmore. Licensed 1998.
Teresa has been a licensed Realtor® since 1998. She attended Miami University and graduated with a BS from George Mason University. She has obtained the following designation/certifications:
Teresa has also been involved with many voluteer positions which include:
In 2007, Teresa was honored to be voted the Vermont Realtor® of the Year.
Teresa has lived in Stowe with her husband and two sons since 1987.
Teresa specializes in Residential and Condo sales. Stowe, as a 4 season resort town, attracts visitors from all over the country. Many of our buyers look to purchase a second home, vacation home or investment property. Teresa also enjoys working first time buyers and buyers looking to make the Stowe area as their primary residence.
Testimonials
Experience and service with integrity are key to successful real estate transactions. As a Realtor®, past transactions can lead to future transactions and to referrals. Below are a few letters from clients/customers I have the privelege of sharing with you.
Elmore, Vermont
George and Gina, Buyers, Elmore
Stowe, Vermont
Joe and Sue, Buyers and Sellers, Stowe
Johnson, Vermont
Randy and Gail, Buyers, Johnson
Stowe, Vermont
Howard and Linda, Buyers, Stowe
Stowe, Vermont
Evan and Janet, Sellers, Stowe
Hyde Park, Vermont
Geoff and Kathleen, Buyers, Hyde Park
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