WEST WINDSOR MARKET AREA
The West Windsor, Vermont real estate market had its most successful year on record when it came to sales in 2020, registering an all-time high thirty-three (33) sold/closed transactions of single-family homes, up from thirty (30) in 2019. Those record sales resulted in a record high total dollar volume of $15,706,400.
The average price of homes rose to its highest mark since 2008, up 39% percent from 2019 to $475,952. Though prices were higher in 2020, the average negotiating discount– percent difference between a home’s list price and sale price– was up to 3.94% in 2020 from a record low of 2.17% in 2019, meaning there was more flexibility from sellers in regard to final sale price.
Supply of single-family homes in West Windsor has been declining gradually since 2016 but fell precipitously to a record low by the end of 2020. As of December 31, there were just five (5) single-family homes actively listed on the market, down 80% from the same date in 2019. Of those homes actively listed, the average price was at an all-time high of $877,600, leaving inventory of more moderately priced homes in the market significantly wanting. Though we remain optimistic about the 2021 market, West Windsor 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 most of the towns in the Woodstock area including Pomfret (3429 Cloudland Road/”Sleepy Hollow Farm” – $2.2 million), Barnard (3147 Mount Hunger Road – $2.55 million), Bridgewater (403 North Bridgewater Road – $1.125 million), and Plymouth (303 Frog City Road – $1.15 million).
Inventory is now genuinely tight at moderate price points (under $1 million) and prices are rising closer into the center of Woodstock. 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.
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.
WEST WINDSOR FY 2020 BY THE NUMBERS
- 33 SOLD single-family homes
- Average Price: $475,952
- Median Price: $370,000
- Total Volume: $15,706,400
- Average Negotiating Discount: 3.94%
- Average Days on the Market: 211
- 7 ACTIVE UNDER CONTRACT/PENDING single-family homes
- Average Price: $567,971
- Median Price: $309,900
- Average Days on the Market: 71
- 5 ACTIVELY LISTED single-family homes
- Average Price: $877,600
- Median Price: $725,000
- Average Days on the Market: 155
Charts illustrating portions of the above information can be found below, followed by a complete list of all 33 properties that closed in West Windsor in FY 2020.
A list of all 33 properties that sold/closed in West Windsor in FY 2020 is below.