New Year's Update - A Snapshot of the South Central Vermont Real Estate Market

Winter Sparkle - Weston, Vermont

A snapshot of today’s south/south-central Vermont real estate market . . .

You will see that properties in all price ranges ARE selling. 

As of today (January 10, 2011), there are approximately 577 residential properties on the market within a 15+/-mile radius of Weston, Vermont (our home base). This number does not include condominiums.    

• 134 (23%) are priced between $69,000 and $250,000
• 227 (39%) are priced between $250,001 and $500,000
• 149 (26%) are priced between $500,001 and $1 million, and
• 67 (12%) are priced over $1 million.

These numbers closely parallel my summary from October 16, 2010, when there are 619 properties on the market in the same geographic area.  The breakdown by price is almost identical - see October 2010 - Real Estate Market Summary

Of the properties listed for sale in area, they are located as follows: 19 in Andover, 36 in Chester, 76 in Dorset, 21 in Grafton, 19 in Jamaica, 2 in Landgrove, 58 in Londonderry, 84 in Ludlow, 87 in Manchester, 34 in Mount Holly, 17 in Peru, 16 in Stratton, 22 in Weston, 17 in Windham, and 69 in Winhall. 

Remember, these numbers do not include condos; there are currently 230 condominiums on the market ranging in price from $58,500 for a 25% share for a studio unit at Okemo’s Jackson Gore Inn in Ludlow to 4000-square foot ski-in/ski-out, 4BR/5BA Mountain Reach condominium unit in Stratton listed for $2.2 million.

There are currently 27 properties under contract, pending sale.  One half of those properties are priced under $500,000 and one half of the total is priced over $500,000.  Three of the properties that are currently pending are priced over $1 million. 

In the past 12 months, 251 properties have been sold. The sales range from a very rough, unfinished house in foreclosure on 0.3 acres sold for $19,000, to a large country village contemporary on 239 acres in Weston that sold for $2.375 million.

• 22 properties (9%) sold for less than $100,000
• 105 properties (42%) sold for between $100,000 and $300,000
• 57 properties (23%) sold for between $300,001 and $500,000
• 45 properties (18%) sold for between $500,001 and $1 million
• 22 properties (9%) sold for more than $1 million

Fully half of all sales in the past 12 months were for properties that sold for less than $300,000.