LAMOILLE

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. The average price increased by 7%, compared to Q4 2021. The median sales price grew by 15%, again showing the gains these markets have seen in overall value in the past two years. There was a market wide reduction in homes available by 22% compared to a year ago, with an increase of days on market by 25%. There was also a reduction in new listings by 11%, from 69 a year ago to 61 this year. These markets are more directly impacted by higher interest rates, forcing buyers to reevaluate their budgets. Sellers will need to really focus on the impact of these rates as they prepare to price their homes for the market.

Land sales mimicked the home sales in that there were declines in overall parcels sold, 77, compared to 128 a year ago. The average price increased from $166K to $121K, this is mostly due to the fact that some higher-valued parcels traded this year. The median sales price increased, from $79K to $95K, and the average price increased from $121K to $166K. The average days on the market was 147 and the median was 57, compared to 194 and 123 in 2021, showing decreases in both categories.

View the Lamoille numbers in detail here.