Vermont land sales were mixed in September. Forty-one parcels sold compared to fifty last September. Total dollars, however, at $6.3 million – increased 41% over last year’s level of $4.5 million. Not surprisingly, the median sales price shot up a whopping 71% to $100,000 from $58,200. The primary reason: more large parcels sold this September. Ten were larger than 50 acres compared to eight in ’09. Fourteen were between 10 acres but less than 50 compared to nine last year.
Other points of note include:
- A 15 acre sale in Stowe for $1,195,000. Total time on the market was 190 days
- A 23 acre parcel sold in Panton with frontage on Lake Champlain for $700,000. 198 DOM
- A 400 acre woodlot in Wolcott for $315,000. DOM 275 days.
- An 86 acre parcel in Williston for $310,000. Only 35 Days on the Market (DOM)
Safe to say good parcels continue to sell well and in some cases for prices as high as we saw before the recession.
October has also begun well with a $1 million sale in Pomfret for 117 acres. This sale also included a second 9 acre parcel for $200,000 so, in total, the buyer bought 126 acres for $1.2 million. A 600 acre parcel has also gone under contract in early October after being on the market for 880 days. Yes, 880 days. At the end of September, there were 113 land parcels under contract that had yet to close.