The Barnard, Vermont real estate market saw thirteen (13) sales of single-family homes in the first three quarters of 2018, down slightly compared to the same period in 2017, which saw sixteen (16) sales. Currently there are four (4) properties under contract and set to close in the coming months. In general, the market is on a similar pace to 2017, demonstrating a full recovery from post-recession lows.
Barnard has seen a fairly continuous decline in inventory since post recessions highs, reaching its lowest point this year since 2014. There were just 25 properties actively listed for sale on October 1, 2018, compared to 55 on October 1, 2014 – a 55% decline.
The most likely explanation for the increased number of sales in Barnard this year, and the subsequent decline of inventory, is found by examining what is going on in the town of Woodstock. Woodstock is the central hub of the area, with dramatically more annual sales (and more inventory) than any of the six towns that touch it. Many buyers, specifically second home owners, begin their search for houses in Woodstock, which has seen a major decline in inventory over the past several years and is now at its lowest point since post-recession highs (down 50%). This creates less options for buyers and the very likely possibility of increased prices for homes that tend to sell the most – those under $500,000. As a result, we believe this is causing buyers to look outwards, and explore, consider, and buy in neighboring towns they may not have paid attention to otherwise. In addition to Barnard, there has been a similar trend of increased sales and declined inventory observed this year in West Windsor, Pomfret, Reading, and Hartland.
With regards to luxury properties that are listed for $1 million and over, there have been two (2) sales in the first three quarters of 2018, and there is currently one listed for $1.65 million that is now under contract. While there is ongoing buying in the luxury market, it is important to point out that all of the sales have been between $1 and $2 million, with properties over $2 million remaining on the market.
The graph below shows the number of sales that transpired from Q1-Q3 in Barnard from 2004 through 2018, and the one following that shows the number of homes actively listed on October 1 from 2014 through this year.
A list of all 13 properties that sold/closed in Barnard in 2018 YTD is below.
| 37 Old Stagecoach Road, Barnard, VT | $67,000 |
| 74 Davis Road, Barnard, VT | $84,100 |
| 2383 Mt Hunger Road, Barnard, VT | $175,000 |
| 378 Gulf Road, Barnard, VT | $185,000 |
| 99 Ferndale Drive, Barnard, VT | $232,000 |
| 84 GARNET HILL Road, Barnard, VT | $285,000 |
| 141 The Grove, Barnard, VT | $355,000 |
| 10474 Route 12 Road, Barnard, VT | $390,000 |
| 762 Royalton Turnpike Road, Barnard, VT | $753,000 |
| 130 Sugar House Hill Road, Barnard, VT | $800,000 |
| 235 Gills Road, Barnard, VT | $850,000 |
| 853 Sayer Rd, Barnard, VT | $1,315,000 |
| 1497 Bowman Road, Barnard, VT | $1,325,000 |
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