By Lisa Loomis

While the total number of sales in The Valley has mirrored the slowdown in the state, Valley towns still rank high in the number of million-dollar homes in the state.

According to the Vermont Property Owners Report, Stowe has the greatest total number of million-dollar homes in the state, with 349 listed on the Grand List. Fayston and Warren are tied at 22 on the list of the 25 towns with the most million-dollar homes. Fayston and Warren each have 34 homes assessed at or above $1 million. Waitsfield is at number 25 on the list, with 30 homes assessed at or above a million dollars.

Of the towns on the list, only seven are ski towns. Other towns and their rank on the list and number of high priced homes include: 3. Shelburne (170 homes); 4. Charlotte (157 homes); 9. Winhall (106 homes); 10. Norwich (79 homes); 11. Burlington (67 homes); 13. South Hero (52 homes); 19. Colchester (39 homes).

The Vermont Property Owners Report editors calculated the values by applying the state calculated Common Level of Appraisal for each town to determine what assessed value would equal a $1 million fair market value, based on the 2008 CLAs, which are the latest provided by the state.

To see which towns have the highest percentage of homes valued at more than a million, the high-priced homes were compared to all properties in each town. The towns with the greatest percentage of homes valued at over $1 million (as of 2008) were Landgrove (22 percent), Stratton (18.7 percent), Dorset (12.5 percent), Stowe (12.5 percent) and Charlotte (10.8 percent).