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Q4 2023 Stowe Area Real Estate Insights: Rising Values and Robust Demand Define Lamoille County, Stowe, and Waterbury Markets
In the fourth quarter of 2023, the real estate markets in Lamoille County, Stowe, and Waterbury, Vermont, showcased diverse yet interconnected trends, reflecting the dynamic nature of the region’s property landscape.
Stowe
Stowe’s market was characterized by increasing sales and property values in single-family homes and decreasing sales in condos, but increases in property values. The single-family home segment saw a 31.58% increase in properties sold, with the average and median sold prices increased. The condo segment also experienced a decrease in sales but saw robust increases in average and median sold prices. New listings in both segments increased, indicating a rejuvenated market interest. The trends in Stowe point to a stable market that, is growing in investment value.
Lamoille County
Lamoille County experienced a mix of decreasing sales volumes and increasing property values. The market saw an 18.69% decrease in properties sold, but this was offset by a significant rise in property values, with average and median sold prices increasing by 31.51% and 22.67%, respectively. New listings in the county increased by 10.23%, indicating a renewed seller interest. The average and median list prices also rose notably. These trends suggest a competitive market with rising property values.
Waterbury
Waterbury’s market maintained stability in the number of properties sold for single-family homes, with no change from the previous year. However, there was a notable increase in both average and median sold prices, indicating a growing market value. The market experienced a decrease in new listings, suggesting a tightening market. Despite this, list prices increased significantly, reflecting high demand and limited supply. The market dynamics in Waterbury indicate strong demand for single-family homes, with rising prices underscoring the area’s growing appeal.
Overview
Combining these insights, the Q4 2023 real estate market across Lamoille County, Stowe, and Waterbury presents a picture of a region experiencing value appreciation and robust demand, despite variations in sales volumes. The trends suggest a market adjusting to changing conditions, with potential for growth and investment across different property types and areas. For those seeking investment opportunities or considering property transactions in these areas, the market offers promising prospects, albeit with nuances specific to each locality. Consulting with local real estate experts is recommended for tailored advice and deeper insights into this dynamic market.
Stowe, VT Real Estate Report – Q4 2023
In the fourth quarter of 2023, the real estate market in Stowe, Vermont, continued to evolve with notable trends and shifts. The single-family home segment experienced a significant 31.58% decrease in properties sold compared to the same period last year. Despite this downturn in sales volume, the market demonstrated resilience in value, with the average sold price increasing by 7.38% and the median sold price rising by 17.81%. The sector also saw a substantial increase in new listings, up by 38.89%, indicating a rejuvenated interest in the market. This was further reflected in the adjustments of list prices, with the average list price increasing by 10.27% and the median list price by 12.84%. The market dynamics also showed a decrease in the time single-family homes spent on the market, with average days on market decreasing by 12.24% and median days on market significantly reducing by 64.29%.
The activity in the luxury market was similar to 2022, with two fewer sales in 2023. The average sales price remained level with a slight increase in 2023 to $2.994M compared to $2.973M in 2022. There was a greater difference in median selling price of $2.9M in 2023 compared to $2.625M in 2022. This was mainly driven by the increase in sales between $3M and $4M year-over-year. There was only one sale above $4M in 2023 compared to two the previous year.
Shifting focus to the condo segment, there was a 7.69% decrease in properties sold, suggesting a contraction in this market. However, similar to the single-family homes, the condo market saw a robust increase in value, with average sold prices soaring by 32.00% and median sold prices by 4.77%. The condo market also experienced a healthy 26.92% rise in new listings. The average and median list prices for condos followed this upward trend, increasing by 35.96% and 10.51%, respectively. The list-to-sell price ratio for condos decreased slightly by 4.04%. Additionally, the average and median days on the market for condos saw a significant decrease, indicating a quicker turnover in this segment.
In conclusion, Q4 2023 for Stowe’s real estate market was marked by a mix of declining sales but increasing property values, both in the single-family home and condo segments. This suggests a market that, while contracting in terms of volume, is growing in terms of investment value. The trends indicate Stowe’s sustained appeal and the potential for value appreciation in its real estate market. Although the trends in 2023 were positive, it is important to note that 2024 might witness more of the characteristic signs of a transitional market. In a market that is transitioning, it is crucial for sellers to react quickly to new sales data and for buyers to be vigilant in seeking out opportunities that they can leverage. For those seeking detailed insights or data on specific aspects of Stowe’s real estate market, consulting with local real estate experts is advisable, we are always here to help!
Click Here for Detailed Stowe VT Market Stats
Lamoille County Q4 2023 Market Report
In the fourth quarter of 2023, Lamoille County’s real estate market exhibited a complex and evolving landscape. The period was characterized by a notable decrease of 18.69% in properties sold across all types, reflecting a contraction in market activity. However, this decrease in sales volume was counterbalanced by a significant appreciation in property values. The average sold price for all property types saw an increase of 31.51%, while the median sold price rose by 22.67%. This trend underscores the resilience and growing value in the Lamoille County real estate market.
The market also witnessed a 10.23% increase in new listings, indicating a renewed interest among sellers and a potential expansion in market offerings. This was accompanied by a substantial rise in list prices, with the average list price for all property types climbing by 32.84% and the median list price increasing by 32.22%. These figures suggest a bullish sentiment among sellers, reflecting confidence in the market’s strength. For purchasers, the current trend of decreasing interest rates has allowed for more buying power than in 2022 and early 2023. If the trend continues, it should draw more buyers into the market.
Further analysis of market dynamics reveals a shift in the time properties spent on the market. The average days on market decreased by 17.31%, and the median days on market saw a more pronounced reduction of 52.38%. This indicates a quicker turnover of properties, pointing to a market that is becoming increasingly dynamic and competitive.
In conclusion, the Q4 2023 real estate market in Lamoille County was marked by a blend of decreasing sales volumes and increasing property values across various property types. This juxtaposition suggests a market that is adjusting to changing conditions, with a clear trend of value appreciation. The data indicates a robust potential for investment growth in Lamoille County’s real estate sector. For those seeking more granular insights or specific data on Lamoille County’s real estate trends, consulting with local real estate professionals is recommended.
Click Here for Detailed Lamoille VT Market Stats
Waterbury VT Q4 2023 Market Report
In the fourth quarter of 2023, the real estate market in Waterbury, Vermont, presented a unique set of trends and developments. The single-family home segment maintained stability in the number of properties sold, with no change from the previous year. However, there was a notable shift in property values. The average sold price for single-family homes increased by 12.14%, and the median sold price saw a more significant rise of 19.54%. This upward trend in prices indicates a growing market value in the Waterbury area.
Despite the stable sales volume, the market experienced a decrease of 14.29% in new listings for single-family homes. This reduction suggests a tightening market with fewer properties available for sale. However, the list prices adjusted accordingly, with the average list price increasing by 14.07% and the median list price showing a substantial rise of 48.05%. These figures reflect a market responding to high demand and limited supply.
The list-to-sell price ratio for single-family homes saw a slight decrease of 4.16%, indicating a slight shift in market dynamics. Additionally, the average days on the market for these homes increased by 21.95%, while the median days on the market remained unchanged. This suggests that while properties may be taking slightly longer to sell, the demand and value remain robust.
In summary, the Q4 2023 real estate market in Waterbury, Vermont, was characterized by stable sales volume, significant increases in property values, and a decrease in new listings. The market dynamics indicate a strong demand for single-family homes, with rising prices reflecting the area’s growing appeal. The trends observed in this quarter suggest that Waterbury’s real estate market is experiencing a phase of value appreciation, making it an attractive area for potential investors and homebuyers. For those interested in more detailed insights or specific data on Waterbury’s real estate market, consulting with local real estate experts is advisable.
