Stowe & Lamoille County Q1 Real Estate Update
2017 Stowe & Lamoille County First Quarter Real Estate Update
Stowe, Vermont 1st Quarter 2017 Real Estate Sales
- Single Family Residential sales in Stowe are down 47% YTD by units sold and down 47% by dollar volume.
- Condominium sales by units sold are up YTD 60% by units sold and up 30% by dollar volume respectively.
Lamoille County, Vermont 1st Quarter 2017 Real Estate Sales
- Single Family Residential sales in Lamoille County are down 40% YTD by units sold and down 25% by dollar volume.
- Condominium sales by units sold are up YTD, 18% and 2% by dollar volume respectively.
Stowe and Lamoille County Real Estate Market in a Nutshell
The start of the year began with a wave of good news in the stock markets, employment reports and an active real estate market in our region. Coupled with the news that Vail Resorts is acquiring Stowe’s ski resort operation… as one might expect, we immediately saw increased interest in the ski-in / ski-out condominium market, and have in general, experienced steady viewing activity throughout the winter months. However, low inventory levels in the single-family residences have dissuaded potential home buyers from purchasing in the first few months of the year, as they wait it out and see what becomes available in the spring – typically the time of year new sellers join the market. While the “Vail Effect” may have jump-started the condominium market in the first quarter in Stowe, it is yet to be seen how it may affect the rest of the real estate market – both locally in Stowe, and overflow into our surrounding communities.