Stowe Vermont Land Sales - Market Report for Years 2005 through 2009
Now that 2009 is over, I have been compiling my year end data for my sales reports. I decided to start with Stowe Land Sales because there was not much activity with land sales in 2009. 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 built 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
Summary - The number of sales in 2009 were certainly down. Not too surprising given that we have been in a recession. Also, land owners don't tend to be that motivated to sell as their cost of holding is not nearly as high as homeowners. Many buyers are looking for existing homes with motivated sellers in the hopes they can renovate or tear down the home and then build. What I did find interesting was that the cost per acre sold in 2009 was higher than the past 4 years. Also, the Average and Median Sale prices were higher than 2008 and 2006.
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.
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.
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