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Reading, Vermont Real Estate Market Report - Full Year, 2020

 

READING MARKET AREA

The Reading, Vermont real estate market saw fifteen (15) sales of single-family homes in 2020, up 73% from just four (4) in 2019. As of December 31, there were an additional eight (8) homes active under contract or pending and likely to close within the coming months.

 

Statistically speaking, 2020 marked one of Reading’s most successful years on record in regard to sales, second only to an all-time record of twenty-one (21) sales in 2018. Those 2020 sales resulted in a total dollar volume of $4,378,300, the third-highest total since our firm began collecting data in 2004.

 

After eight years of fluctuating somewhere between twenty (20) and twenty-seven (27) actively listed homes at year’s end, supply of single-family homes dropped to ten (10) after the record-breaking year in 2018 and remained low at eleven (11) at the close of 2019. Following 2020’s sales, however, inventory fell precipitously to a record low of just three (3) as of December 31, with the average price of those homes reaching $612,333 (up from $458,082 in 2019). Though we remain optimistic about the 2021 market, Reading will need a considerable infusion of new listings to keep up with what we expect to be continued strong 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 dollar 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.

 

READING FY 2020 BY THE NUMBERS

  • 15 SOLD single-family homes
    • Average Price: $291,887
    • Median Price: $222,000
    • Total Volume: $4,378,300
    • Average Negotiating Discount: 6.30%
    • Average Days on the Market: 167
  • 8 ACTIVE UNDER CONTRACT/PENDING single-family homes
    • Average Price: $270,863
    • Median Price: $272,450
    • Average Days on the Market: 204
  • 3 ACTIVELY LISTED single-family homes
    • Average Price: $612,333
    • Median Price: $498,000
    • Average Days on the Market: 595

 

Charts illustrating portions of the above information can be found below, followed by a complete list of all 15 of the single-family homes that sold in Reading in FY 2020.

 

A list of all 15 single-family homes that sold/closed in Reading during FY 2020 is below.

6828 Tyson Road, Reading, VT

$53,000

119 Tyson Road, Reading, VT

$75,000

6830 Tyson Road, Reading, VT

$75,000

620 VT Route 106, Reading, VT

$140,000

1344 Tyson Road, Reading, VT

$179,900

108 Park Circle, Reading, VT

$188,000

645 VT RT 106, Reading, VT

$219,000

43 Matthews Drive, Reading, VT

$222,000

718 Tattle Street, Reading, VT

$289,000

195 Grasshopper Lane, Reading, VT

$350,000

78 White Pines Road, Reading, VT

$365,000

397 Brown Schoolhouse Road, Reading, VT

$379,900

988 Jenne Road, Reading, VT

$380,000

470 Jenne Road, Reading, VT

$700,000

350 Curtis Hollow Road, Reading, VT

$762,500

 

 

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