As the market progresses through 2022, we are seeing a transition to a more normal and balanced market than what we have been experiencing in the past few years. The expansive growth seen in 2020 and 2021 has helped to set the stage for a new sense of value and opportunity in Stowe and the surrounding areas. There has been an increase in inventory, which historically happens at the end of Q2 and into Q3, thus allowing a return to a more stabilized market environment. This means there are excellent opportunities for both buyers and sellers to achieve their goals, a testament to the strength of our area.
There was a decrease in sales volume for single-family homes in Q2 compared to a year ago. At the same time, we saw the median sales price increase, while the average sales price decreased. This was mainly driven by fewer sales above $1 million in Q2 2022. As we move into Q3, historically one of our busiest quarters we expect these numbers to continue to refine themselves.
As we transition into a more balanced market we are returning to less of a fevered environment and one where both buyers and sellers work together to reach the common goal of a successful transaction. Our belief is that there remain opportunities for all parties in transitional markets, having the right real estate professional to help guide them through these changing markets is paramount.
Across the region, there was an increase in inventory, in Stowe and Lamoille North there was a 10% increase in new listings compared to last year. In Stowe, it was more pronounced in that there was a 28% jump in new listings. Waterbury saw a decrease in inventory, dropping by 28%.
View the stats in detail by clicking on the town name below.
