The 2011 Real Estate Sales stats are in and our 2011 Upper Valley Market Study is ready. 2011 turned out to be nearly a repeat of 2010 for sales in Quechee Lakes with very little change in units sold year over year. On the plus side the average days on market for those properties that sold was down about 10%. The damage caused by Irene has also been a factor. Rentals dropped off sharply after Irene and those renters are our future buyers. Repairs to the facilities at the club are well underway, but the lack of a bridge has proven to be more of an issue than one might think. We are hopeful that too will be repaired by this time next year. Despite the stagnant Quechee market our office saw a 20% increase in business fueled by our activity outside QLLA. A sign that the surrounding markets remain vibrant.
While we haven’t yet seen the turn for the better in the market here in Quechee, we are seeing positive signs in other second home markets both in Vermont and nationally. Unlike 2010, conditions exist which should help 2012 finally be the year the market turns in Quechee. The primary driver of activity is value. Buyers are finally beginning to see the value in properties here. With prices at nearly 50% less than the height of the market and interest rates remaining at or near all time lows, buyers are starting to seriously consider purchasing.
Read the full study by clicking on the link below. If you would like further details on market conditions in Quechee or the greater Upper Valley, call your favorite Coldwell Banker Redpath agent to get the answers to all of your questions.
