Stowe Vermont Condo and Townhome Sales - Market Report 2005 through 2012
Stowe, Vermont as a four season resort has many condo/townhome projects. The majority of these
properties are owned by second home and vacation home owners. As a result of the tightening of banking regulations, mortgage companies have made the purchase of condos, especially in a resort town, much more difficult. Below are
market statistics by year with accompanying charts. You can click on the charts to enlarge them. The statistics are from the the Northern New England Real Estate Network MLS. The majority of sales are reflected in these market reports.
2005 Stowe Vermont Condo Sales
# of Units Sold: 46
Average List Price: $364,415 Average Sale Price: $352,040
Median List Price: $352,000 Median Sale Price: $345,000
Average # of Listings: 43
Average Price per Finished Square Foot Sold: $239
Average Days on Market: 103
2006 Stowe Vermont Condo Sales
# of Units Sold: 39
Average List Price: $440,215 Average Sale Price: $419,273
Median List Price: $295,000 Median Sale Price: $285,000
Average # of Listings: 66
Average Price per Finished Square Foot Sold: $234
Average Days on Market: 151
2007 Stowe Vermont Condo Sales
# of Units Sold: 27
Average List Price: $459,530 Average Sale Price: $437,752
Median List Price: $399,900 Median Sale Price: $387,000
Average # of Listings: 73
Average Price per Finished Square Foot Sold: $252
Average Days on Market: 222
2008 Stowe Vermont Condo Sales
# of Units Sold: 23
Average List Price: $326,300 Average Sale Price: $294,261
Median List Price: $220,000 Median Sale Price: $220,000
Average # of Listings: 78
Average Price per Finished Square Foot Sold: $202
Average Days on Market: 289
2009 Stowe Vermont Condo Sales
# of Units Sold: 17
Average List Price: $401,970 Average Sale Price: $368,530
Median List Price: $310,000 Median Sale Price: $299,000
Average # of Listings: 88
Average Price per Finished Square Foot Sold: $237
Average Days on Market: 296
2010 Stowe Vermont Condo Sales
# of Units Sold: 27
Average List Price: $367,093 Average Sale Price: $338,275
Median List Price: $329,000 Median Sale Price: $295,000
Average # of Listings: 111
Average Price per Finished Square Foot Sold: $196
Average Days on Market: 244
2011 Stowe Vermont Condos Sales
# of Units Sold: 24
Average List Price: $471,708 Average Sale Price: $432,372
Median List Price: $404,500 Median Sale Price: $372,500
Average # of Listings: 110
Average Price per Total Finished Square Foot Sold: $218
Average Days on Market: 248
2012 Stowe Vermont Condo Sales
#of Units Sold: 31
Average List Price: $326,570 Average Sale Price: $303,530
Median List Price: $397,000 Median Sale Price: $265,000
Average # of Listings: 92
Average Price per Total Finished Square Foot Sold: $185
Average Days on Market: 369
Comparison Chart - Stowe Condo Sales 2005 through 2012
SUMMARY - The number of condo sales increased from 24 condos to 31. The Average List Price of condo sold decreased from $442,500 to $326,577 and the Average Sale Price decreased from $404,167 to $303,532. The average price per total finished square foot also decreased from $218 to $160.
The average inventory decreased from 110 units to 92 units. The Average Days on Market rose from 248 day to 369 day.
Overall, Stowe condo market activity has increased, but prices have decreased. The inventory and type of condo(low association fees vs. higher fees with amenities) offer a wider variety of choices.
The condo market seems to be following the home market - more closings, longer days on market, lower inventory and lower prices.
It appears to still be a great time to buy, but potential buyers need to understand their financing options.
My office, Stowe Realty, also handles rental properties. The activity/demand for rentals over the past holidays was significant. We did not have enough properties to rent. As the snow continues to fall, the calls keep coming in. If one is looking for a property with rental potential, please know that rental income is a great way to help support your investment. There is no guarantee though, that you will have a net profit.
Search for Condos and Townhomes Available Here
For other Stowe Vermont Market Reports, click on the links below:
Stowe Vermont Home Sales - 2005 through 2012 - Market Report
Stowe Vermont Land Sales - 2005 through 2012 - Market Report
Need help? Give me a call at (802) 793-5171 or e-mail Teresa@StoweUSA.com
The compilation of information is copyrighted and may not be reprinted or used without my permission.
Comments(0)