The housing market in Stowe, Vermont has been on the rise over the past few years, with strong demand due to limited inventory leading to increased prices and competitive bidding wars. Stowe, located in Lamoille County, is a popular destination for tourists and second-home buyers alike, drawn to the area’s stunning natural beauty, skiing and snowboarding opportunities, and vibrant community.
According to data from the Lamoille County Vermont Board of Realtors, the median sale price for a single-family home in Stowe was $853,000 in 2021, up 26% from the previous year, and in 2022, Stowe had a total of 39 single family home sales with an average sales price of $1,400, 446.
Meanwhile, the number of homes sold in the town decreased by 28.57% from Dec 2021 to Dec 2022 reflecting the limited inventory available for sale. This trend has continued into 2023, with even higher demand and limited supply driving prices up further while many buyers wait patiently for new inventory to come to market.
One factor contributing to the high demand for Stowe real estate was the COVID-19 pandemic, which has prompted many city-dwellers to seek out more spacious and rural living environments. Stowe, with its picturesque landscapes and small-town charm, has become an even more attractive destination for those looking to escape crowded cities and enjoy outdoor activities.
Another factor driving the Stowe housing market is the strong second-home market. Many buyers are looking for vacation homes or rental properties that can generate income during the peak tourism season. Stowe’s proximity to popular ski resorts, hiking trails, and other outdoor attractions make it an ideal location for these types of properties.
While the Stowe housing market presents many opportunities for sellers and investors, it can be challenging for buyers, particularly those on a tight budget. With limited inventory and high demand, buyers may find themselves facing bidding wars and higher-than-expected prices. However, working with an experienced local real estate agent can help buyers navigate the competitive market and find the right property for their needs and budget.
Overall, the Stowe housing market is thriving, driven by strong demand from both primary and secondary home buyers. With its natural beauty and outdoor activities, Stowe is likely to remain a popular destination for years to come, and the real estate market is poised to continue its upward trajectory.
Recent Comments