HARTLAND MARKET AREA
The Hartland, Vermont real estate market performed very well throughout 2020 and saw thirty-nine (39) sales of single-family homes in total, up slightly from thirty-seven (37) in 2019. Though it fell just short of a record year in terms of closed transactions (the record being forty-four (44) in 2017), it was by far an all-time high in regard to total dollar volume with $21,519,499 in combined sales. At year’s end, there were also eleven (11) more homes active under contract or pending and likely to close in the coming months.
On average, buyers paid closer to sellers’ asking prices in 2020 than ever before, with the negotiating discount– percent different between a home’s list price and sale price– closing at a record low of 3.08%, down from 3.19% in 2019. The average days homes spent on the market prior to sale reached its lowest point in 15 years, falling significantly from 179 in 2019 to 99 this past year. Additionally, the average price of sold homes soared to a new high of $551,782, an increase of over $220,000 from 2019. Each of these metrics clearly underscore the high demand from and motivation of buyers in the extraordinarily busy 2020 market.
That strong demand has created a vacuum in regard to available inventory, however, as there were just five (5) single-family homes actively listed on the market as of December 31, down 62% from the same date in 2019 to an all-time low. Though we remain optimistic about the 2021 market, Hartland will need a significant infusion of listings to satisfy what we expect to be continued robust buyer demand.
GREATER WOODSTOCK MARKET AREA
In total, 391 single-family homes sold in 2020 in the Greater Woodstock Vermont market area (Barnard, Bridgewater, Hartland, Plymouth, Pomfret, Quechee, Reading, West Windsor, Woodstock) up 62% from 242 in 2019. In fact, not only did every single town in the Greater Woodstock market experience an increase in total $ sales for the year, but nearly every town closed an all-time record number of homes. Of the 391 homes sold, buyers paid at or above a seller’s asking price in 118 of the transactions, with the average price hitting $558,347 (up from roughly $424,000 in 2019). Because of this boom, it stands to reason that inventory in the market is now significantly depleted, with just sixty-nine (69) single-family homes on the market at the close of the year compared to 179 at the same point in 2019.
As with the rest of the market, buying activity in the luxury market in the Greater Woodstock market area was very strong in 2020, with thirty-eight (38) sales of homes over $1 million sold/closed compared to thirteen (13) in all of 2019. Snyder Donegan was pleased to represent the buyers, sellers, or both in the highest priced 2020 individual home sales in Barnard (3147 Mount Hunger Road – $2.55 million), Bridgewater (403 North Bridgewater Road – $1.125 million), Pomfret (3429 Cloudland Road/”Sleepy Hollow Farm” – $2.2 million), and Plymouth (303 Frog City Road – $1.15 million).
Inventory is now genuinely tight at most price points up to about $1.5 million, and prices clearly rose, particularly in moderate price points and in properties closer to well-known towns like Woodstock and Hanover. Because of this, we are starting to see buyers move both outwards in location from traditional “centers” and upwards in price. And more rural, even “remote” properties have special appeal to those seeking more permanent safety from the COVID storm or a simpler way of life.
HARTLAND FY 2020 BY THE NUMBERS
- 39 SOLD single-family homes
- Average Price: $551,782
- Median Price: $415,000
- Total Volume: $21,519,499
- Average Negotiating Discount: 3.08%
- Average Days on the Market: 99
- 11 ACTIVE UNDER CONTRACT/PENDING single-family homes
- Average Price: $566,336
- Median Price: $349,000
- Average Days on the Market: 97
- 5 ACTIVELY LISTED single-family homes
- Average Price: $480,580
- Median Price: $549,000
- Average Days on the Market: 122
Charts illustrating portions of the above information can be found below, followed by a complete list of all 39 properties that sold in Hartland during the full year of 2020.
A list of all 39 properties that sold/closed in Hartland in FY 2020 is below.