Current Market Report
Stowe, VT Real Estate Report - Q3 2023
In the third quarter of 2023, Stowe's real estate market displayed a variety of noteworthy trends. The overall landscape for single-family homes indicated a 16.00% decline in properties sold compared to the same period last year. However, the average sold price saw an uptick of 2.32%, while the median sold price experienced a decrease of 4.04%. New listings for single-family homes showed promise, with a rise of 16.67%. The average and median list prices for these homes went through adjustments, decreasing by 1.20% and 19.70%, respectively. The time single-family homes spent on the market showed mixed results, with the average days increasing, but the median days decreasing by 11.11%.
Transitioning to the condo segment, there was a significant 50.00% reduction in properties sold. Despite this, both the average and median sold prices for condos witnessed substantial growth, increasing by 63.74% and 62.81%, respectively. New condo listings saw a decline of 25.00%. Reflecting the heightened demand for condos in Stowe, the average and median list prices rose by 56.72% and 59.29%. The list to sell price ratio for condos also improved by 4.24%. A standout observation in the condo market was the extended duration condos remained on the market, with an average of 320 days before being sold. This is due to the Trapp Villa triplex units having extended days on market because they were new builds. If you remove them from the data the average days on market were much reduced to 49 days.
In conclusion, while Stowe's single-family home market presented a balanced mix of growth and decline, the condo market emphasized the town's enduring appeal and value appreciation, even with fewer transactions. For those seeking more in-depth data or insights into specific areas of Stowe, consulting with local real estate experts is recommended.
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