This entry is brought to you by Story Jenks who assists buyers and homeowners of distinctive Land, Estates and Farms throughout Vermont.
2010 was a year of consolidation across the markets we serve. With pricing well off the highs of 2005, and approaching 2001 levels in many markets, seller expectations became realistic and buyers stepped in to pick up attractive deals with cash. Yankee thrift largely avoided the distressed market prevalent in the Southwest and California, and bottom-fishers have largely been frustrated at trying to pick off superb properties which hold considerable value despite the market.
LandVest led record sales through this challenging market, reflecting our strength and the quality of the properties we represent. Wyck Estate – spectacular waterfront French chateau reproduction in Manchester, MA was offered for $12.25 million. Lochland – eclipsed only by the previous New Hampshire record set by LandVest in 2006, this former home of Babe and William Paley on Squam Lake sold for $6.85 million. Round Pond Road – remarkable Martha’s Vineyard beachfront property was offered for $18 million and sold in early 2011, setting the tone for a stronger spring market.

North Mowing, located in Springfield, Vermont is privately set on 230± acres and is currently for sale. The amenity-rich estate offers nine clapboard buildings in an idylic Vermont setting.
Vermont
Sales Volume
The Vermont high-end market is predominantly a second (or third…) home market, driven by want rather than need. 2010 volume of state-wide residential sales over $1 million topped 60, improving ever so slightly from 2009’s trough of 54 sales, but down over 57% from the peak in 2005. Sales over $2 million showed a similar trend with a bigger rebound in 2010, but off the peak by 62%. The average marketing period lengthened to over 1.5 years.
It was not until end of 2009 and beginning of 2010 that the scale of price decreases became clear. Here are sample sales in the primary high-end markets in Vermont. (more…)









