For LandVest brokers Wade Weathers and Story Jenks, 2019 is revealing a new trend: we are beginning to see more dual income couples with young families make the decision to invest in a Vermont second home around the $1 million price point.
In 2018, Weathers and Jenks were the two top performing brokers in Vermont for sales over $1 million [sales include MLS and privately listed sales].
"Today's buyers are all about great experiences," says Jenks. "Investing in time together, out of doors, surrounded by beauty, has a high return. They tell us that getting off their screens and into the Vermont countryside hits 'reset' in an invaluable way."
Vermont continues to be a buyers market with good values in luxury real estate. The offering of larger land parcels and a plethora of outdoor activities out the back door is a big draw for all ages.
When properties are fairly priced, said Weathers there is a pool of buyers ready and able to buy. In the last six months, Jenks has had three properties that received multiple bids, all priced just under $1 million.
The number of $1 million-plus homes sold in Vermont in 2018 increased 12% percent over the year before, as reported on the MLS. Also, there was a 19% decrease in days on the market. One explanation for less days on the market is competitive prices and stronger demand.
While the market is strong, it continues to be price sensitive, said Weathers. Buyers want to know if they invest additional capital into their property, will they get it out in five years.
What has become more important than ever in 2019 is the presentation of the property, Jenks said. If a seller doesnt repaint, declutter and stage the property for todays buyer, it most likely will take longer to sell and negatively impact the price. It has been our experience if $20,000 in improvements are not addressed, the sale price could drop by $200,000 or more.
Weathers added, we are finding more buyers that want turn-key homes, because they do not have the bandwidth to renovate.
And were seeing interest in not only classic Vermont vernacular homes, said Jenks, but also in mid-century modern and residences built after the year 2000 that meld modernist elements.
For second home owners and people moving to Vermont, it is not only about buying a home, but for many it is about buying into a lifestyle, experiences, creating memories and the great outdoors.
This very cool, post-modern style home on 76+/- protected acres has spectacular mountain views. Offering complete privacy, the Gagarin House was designed and built by the architect Charles W. Moore, described by the New York Times as one of the most influential and prolific practitioners of post-modern design.This very cool, post-modern style home on 76+/- protected acres has spectacular mountain views. Offering complete privacy, the Gagarin House was designed and built by the architect Charles W. Moore, described by the New York Times as one of the most influential and prolific practitioners of post-modern design.
C.1850s Hidden Pond Farm blends the classic Vermont farmhouse and setting, views and privacy with tasteful renovation and addition that provide a more open floor plan. Sited on 170 acres at the end of a dirt road in Chester.C.1850s Hidden Pond Farm blends the classic Vermont farmhouse and setting, views and privacy with tasteful renovation and addition that provide a more open floor plan. Sited on 170 acres at the end of a dirt road in Chester.
Cascade Farm in Weston is a light-filled c. 1834 farmhouse sited on 63 acres with a brook, swimming hole and waterfall; endless stonewalls, apple trees, ancient maples, meadows and a small pond fill out the landscape.Cascade Farm in Weston is a light-filled c. 1834 farmhouse sited on 63 acres with a brook, swimming hole and waterfall; endless stonewalls, apple trees, ancient maples, meadows and a small pond fill out the landscape.
La Vielle Ferme is a beautiful and classic Vermont property located on desirable Cider Mill Road within 3 miles of Middlebury College and downtown Middlebury. Sited on 4.45 acres with views of the Green Mountains, the 4,125-sf antique Federal with newer ell is impeccably maintained.La Vielle Ferme is a beautiful and classic Vermont property located on desirable Cider Mill Road within 3 miles of Middlebury College and downtown Middlebury. Sited on 4.45 acres with views of the Green Mountains, the 4,125-sf antique Federal with newer ell is impeccably maintained.
Deer Meadow Farm in Andover is a charming c. 1789 house with barns and a swimming pond sited on 91 acres at the end of a country lane. Near Okemo.Deer Meadow Farm in Andover is a charming c. 1789 house with barns and a swimming pond sited on 91 acres at the end of a country lane. Near Okemo.
Chill, calming, very Vermont: This 2010 reimagining of a farmhouse is set high on a hill with sweeping mountain views close to Hanover and Dartmouth College. 309 Aldrich Farm Road on 10.8 acres.Chill, calming, very Vermont: This 2010 reimagining of a farmhouse is set high on a hill with sweeping mountain views close to Hanover and Dartmouth College. 309 Aldrich Farm Road on 10.8 acres.
This equestrian property, with its well-maintained 4-bedroom Saltbox Colonial and 2-bedroom apartment over the 4-stall barn, is on 12 acres in Charlotte. An adjacent 6-acre waterfront buildable lot is available on Lake Champlain as a separate purchase. 96 Deer Point RoadThis equestrian property, with its well-maintained 4-bedroom Saltbox Colonial and 2-bedroom apartment over the 4-stall barn, is on 12 acres in Charlotte. An adjacent 6-acre waterfront buildable lot is available on Lake Champlain as a separate purchase. 96 Deer Point Road
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