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The trends seen during Q4 2022 have continued into Q1 2023. While the market numbers were very similar to Q1 2022, only slight differences in sales volume and new listings. The forecast for Q2 is showing an overall lack of inventory putting downward pressure on sales. Buyer demand remains strong within our market with many buyers ready to move once a property fits their criteria. Given interest rates have been elevated for many months, buyers who are seeking out loans, have mentally factored this into their decision process.
Across the region, there was a reduction in inventory, in Stowe and Lamoille North there was a 7% dip in new listings compared to last year. In Stowe, it was more pronounced in that there was a 18% drop in new listings. Waterbury saw an increase of 10% year over year. Seasonality does play a factor into the reduction of listings this time of year, as we progress into the final half of Q2 there’s an expectation that inventory will grow as sellers look to capitalize on the continued buyer demand.
Our markets and statewide there is a sense that a return to a more normalized market was due. This means a return to a typical transaction process with contingencies like building, septic and other inspections being conducted. As we continue to monitor the market, it’s imperative to have the right real estate advisor to help guide you to take advantage of opportunities of a market in transition.
View the stats in detail by clicking on the town name below.
Waterbury saw declines across the board in terms of number of sales, new listings, and average and median sales prices. Where the market excelled was the sales price …
Just as our local communities have seen recent growth and enhanced vibrancy, so too has the residential real estate market.
We are happy to report, that residential sales in Stowe and the rest of Lamoille County.
In the world of real estate, supply and demand is still largely the story, both nationwide and locally.
his report uses market-wide data based on transactions that closed in 2015 in the Multiple Listing Service.
In 2016 the Stowe area market generally reflects that of the broader market throughout Vermont, and much of the nation.
Stowe saw a decrease in overall sales volume compared to Q3 2021, with a 21% decrease in Q3 2022.
In Lamoille County, an area comprising 9 towns, in addition to Stowe, there was a decrease in overall sales by 10%, which was reflected in the market as a whole.
Waterbury was the only local market to see gains in terms of the number of sales, with an increase of 5%.
Stowe saw a decrease in overall sales volume compared to Q4 2021, with a 29% decrease in Q4 2022.
In Lamoille County, an area comprising 9 towns, in addition to Stowe, there was a decrease in overall sales by 22%, which was reflected in the market as a whole.
Waterbury saw a decrease in terms of the number of sales, by 23% compared to a year ago.
If you’re looking for the largest selection of real estate available in our area, you’ve come to the right place and we’re here to help you.