Blog :: 01-2011

Barnard VT Real Estate Market Stats & Homes Sold for 2010

Here's the Snyder Donegan Real Estate Group 2010 year-end wrap-up on real estate activity in lovely Barnard VT.   Our printed report will be published and mailed soon, but here are the highlights for Barnard:

(Note: If you would like to subscribe to our email list to periodically receive news updates on Barnard VT and Barnard VT real estate activities, send me an email to that effect team@snyderdonegan.  I would be happy to add you to the list.  I will not share your contact information with anyone.  Also, if you want to UNsubscribe at any time, just send an email to that effect as well.  If you have content on upcoming events in Barnard or other town news you'd like me to share, send an email and I'll incorporate that into my periodic email blogs about Barnard.)

 

Barnard General Store, Barnard VT

 

  • The average house sale in Barnard VT during 2010 was $638,000, skewed heavily by the two high end sales.   Three of the house sales in Barnard were between $159,000 and $350,000.  To view the homes currently for sale in Barnard, click here: Barnard VT Homes for Sale.
  • After more than a year of quietude for high end Barnard second home sales, the 4th quarter brought two notable sales: Twin Ponds on Gulf Road (our listing) sold for $2 million in late October, then right at year end, a home sold on the North Road for just over $1 million.  These two sales established price levels again in the high end not only for Barnard, but also for Woodstock, which also had one (1) sale over $1 million in the 4th quarter (and three in total for the year).  There are currently eight (8) homes for sale in Barnard priced over $1 million.
  • The 4th quarter sales confirmed that Barnard is a very desirable VT second home location - the quintessential Vermont small town - centered around beautiful Silver Lake, the wonderful Barnard Academy school, the community vibe around the lake, the Barnard General Store, the churches, Town Hall and the Post Office - and the Barnard Volunteer Fire Department, with more than 25 dedicated volunteers, one of the finest departments in Vermont, which provides excellent first-responder and fire services to the town, on call 24/7/365.  (Be sure to support the all-volunteer, non-profit BVFD by sending your tax-deductible check to PO Box 146, Barnard, VT  05031.)
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    Private Home for Sale on 40+ Private Acres in Barnard VT

     

    Yet, overall home sales were sluggish in Barnard VT last year, with only five (5) houses selling in total.  This compares with the 41 houses listed for sale at year-end.  While there was a noticeable pickup in sales overall in the Greater Woodstock area in the 4th quarter (27 sales overall), the only two sales in Barnard were the high-end houses.  The heavy supply of houses for sale makes it likely that 2011 will be a "buyers market" again in Barnard.  (Note that the real estate industry in general considers the tipping point between a "sellers market" and a "buyers market" to be about 6 months of supply.)  So, with 41 homes for sale and a pace of 5 sales per year, we will be in a "buyers market" again during 2010.  With interest rates low and choices abundant, we have been saying for more than a year that NOW may be the best buying opportunity of a lifetime.  Call us to talk or schedule showings.  We're happy to help.

 

Barnard VT House for Sale

Custom Built Home for Sale in Barnard VT

 

John and I have more than 30 properties listed for sale.  In Barnard, we have second home properties for sale in the $1 million to $3 million range, and other great parcels of land and homes for sale priced roughly from $100,000 to $450,000.  Click here to see Snyder Donegan Real Estate Properties for Sale.  If you are thinking of listing your home, give us a call.  Our argument is simple: we know Barnard, we know how to sell, and we know real estate.  Our two backgrounds are perfect complements, and we work as 50/50 partners as a team.  If you are looking to buy, we are happy to serve as a buyer broker for you.  You can read more about our buyer brokerage services here.

Stay tuned for more blogs on the year-end real estate wrap-up for all the other towns in the Greater Woodstock area: Barnard, Bridgewater, Hartland, Pomfret, Reading and West Windsor.  Snyder Donegan Real Estate Group is always willing to help you find Woodstock VT homes for sale or VT land for sale.

 

Gorgeous Mountain View in Barnard VT Home Under Construction Dec 2010

 

2011 Woodstock VT Real Estate Sales Statistics

 

Woodstock Vermont Real Estate

Woodstock Vermont Parade

 

Our eyes are a bit bleary from all the number crunching here in Woodstock Vermont. We've now tabulated the year-end statistics on the real estate market in the Greater Woodstock VT area, and our report will be published shortly.  But here are some teaser stats and insights (just on Woodstock VT) from the report:

 

Woodstock VT Homes

2010 Woodstock Wassail Parade

 

  • The 4th quarter saw a dramatic increase in homes sales.  Fifteen (15) homes sold in the 4th quarter, a 300% increase (triple) over the five (5) homes that sold during the 3rd quarter.
  • For the full year of 2010, thirty-eight (38) residential properties sold in Woodstock.  This was a 40% increase in home sales over 2009 when twenty-seven (27) homes sold.   However, we are still well below the peak sales years of 2004-2006 when fifty-five (55) homes sold per year - on average.  So sales were up 40% over 2009, but are still about 40% below the peak years.  That's good news, because we suspect there is pent-up demand from gun-shy potential buyers who still have money but were too nervous to pull the trigger.
  • The median price of homes sold in Woodstock during 2010 was $495,000.  The average price was $667,000.  (A few high priced home sales always skew the average).
  • The Woodstock market for homes priced over $1 million was sluggish in 2010, with only three (3) sales.  This compares with 5 sales in 2009.  (For historical context, the best year in the past decade was 2005, when eight (8) homes over $1 million sold).
  • The market continues to be dogged by heavy supply: as of year-end, there were still 113 residential homes for sale in Woodstock VT.  This is still near an all-time high, and represents more than two (2) years' of supply.  In other words, at the rate of selling 38 homes per year, it would take three (3) years to sell all the houses currently on the market in Woodstock.  Even if sales pick up 50 home sales a year, it will take a bit over two (2) years to sell all the houses now on the market.  Thus, it is pretty clear that 2011 will continue to be a "buyers" market here in Woodstock Vermont.  (Inside the real estate industry, 6 MONTHS of inventory is generally considered the tipping point between a "buyers" and a "sellers" market).
  • The ratio of average sold price to the last-listed price improved slightly during 2010 to 89%, from 87% in 2009.   This is likely explained by more realistic listing prices, than it is an improvement in the negotiating balance.  (For historical context, the 10-year average ratio was 91%.)

Stay tuned for more blogs on the year-end real estate wrap-up for all the other towns in the Greater Woodstock area: Barnard, Bridgewater, Hartland, Pomfret, Reading and West Windsor. Snyder Donegan Real Estate Group is always willing to help you find Woodstock VT real estate or VT land for sale.