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Vermont Real Estate Market Update: April 2023

U.S. existing-home sales declined 2.4 percent month-over-month as of last measure, according to the National Association of REALTORS® (NAR), reversing February’s sales gain of 14.5%. Fluctuations in mortgage interest rates have caused buyers to pullback, with pending sales dropping 5.2% month over- month. Meanwhile, the median existing-home sales price declined for the second month in a row, falling 0.9% nationally from the same time last year, the largest year-over-year decline since January 2012, according to NAR.

New Listings decreased 25.3 percent for single-family homes and 36.0 percent for townhouse-condo properties. Pending Sales decreased 22.5 percent for single-family homes and 26.3 percent for townhouse-condo properties. Inventory decreased 3.3 percent for single-family homes and 2.3 percent for townhouse-condo properties.

The Median Sales Price was up 1.5 percent to $441,050 for single-family homes and 10.0 percent to $385,000 for townhouse-condo properties. Days on Market increased 55.6 percent for single-family homes and 26.1 percent for townhouse condo properties. Months Supply of Inventory increased 20.0 percent for single family homes and 14.3 percent for townhouse-condo properties.

Housing inventory remains tight nationwide, with only 980,000 units available for sale heading into April, a 5.4% increase from one year earlier, although the number of homes for sale is down compared to the same period in 2019, prior to the pandemic. The lack of existing inventory continues to impact home sales, and with only 2.6 months’ supply of homes at last measure, competition for available properties remains strong, especially in certain price categories, with multiple offers occurring on about a third of properties, according to NAR.

Considering a move and wondering what your options are this spring? We're here to help. Contact us today.

Island Insights: May Events in the Lake Champlain Islands

Island Insights: May Events in The Lake Champlain Islands

With spring in full swing, The Lake Champlain Islands of Vermont are buzzing with exciting activities to explore this May. Whether you're a local or a visitor, we've got you covered with our guide to the top events happening this month. Keep reading to discover some of the best events that you won't want to miss!

Wine Tastings & Six Short Plays at Snow Farm Vineyard

On May 5th and 6th at 6 pm at Snow Farm Vineyard, you can experience tastings and a performance of six short plays covering a wide range of topics from climate change to social issues.

More Event Information

Green Up Day With South Hero Land Trust

Join the South Hero Land Trust's annual Green Up Day on May 6th from 7am - 12am and participate in a community cleanup. Join SHLT at Folsom School between 11:30am to 12:30pm for their volunteer appreciation barbecue.

More Event Information

Live Music at Kraemer & Kin 

The Tenderbellies will be performing on May 6th at Kraemer & Kin’s taproom at Albrugh Golf Links. Head to Alburgh, Vermont for a night of dancing, great music and drinks all starting at 7pm!

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Sip & Shop at Shore Acres

A Sip & Shop event will be taking place at Bravo Zulu Lakeside Bar on Saturday, May 13th! Starting at 11am, you can enjoy some refreshing drinks while browsing locally made products created by some incredibly talented local artists.

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Champlain Islands Farmers Market 

Don't miss the first market of the season on May 20th! Head over to St. Joseph's Church in Grand Isle from 10am-2pm to support local farmers, makers, and a variety of other vendors.

More Information

There's something for everyone to enjoy during the month of May in the Champlain islands.. So, mark the calendar for these upcoming activities. Don't miss out on this opportunity to experience the beauty and charm of the Champlain Islands in the springtime. Looking for more things to do in the Lake Champlain Islands? Start exploring today. 

Hidden Home: Beautiful Contemporary Home in Grand Isle, Vermont

May's featured Hidden Home is a beautiful contemporary home nestled in the cedars on 7.75 acres. It offers complete privacy and endless opportunities to enjoy the outdoors in this fantastic park-like setting. This home is equipped with three bedrooms and four bathrooms and it is located in Grand Isle, Vermont.

This home is currently listed for $819K. Visit our website to view learn more.

Watch to see the interior and subscribe to our YouTube Channel to see more Hidden Vermont Homes!

​Spring Gardening Tips to Boost Your Home's Curb Appeal

Spring Home Gardening Tips to Boost Curb Appeal

Enhance your Vermont home's curb appeal this spring by caring for your garden. With warmer weather and longer days, it's the perfect time to plant new flowers, prune trees, and get your yard in shape. Whether you're preparing for the summer season or sprucing up your home's exterior to sell, these tips will help create a beautiful and inviting outdoor space. 

1. Clean Up Your Garden Beds

Remove any dead leaves, debris or fallen branches from your garden beds. Clear out any weeds that may have sprouted and add fresh mulch to help suppress weeds and retain moisture in the soil.

2. Plant Colorful Annuals 

Planting colorful annuals is an easy way to add a pop of color to your garden. Choose flowers suitable for your local climate and soil type, and plant them in clusters to create a stunning display.

3.  Add A Container Garden 

Container gardens are a great way to add some color to your front porch and make it more welcoming. Choose containers that complement the home's exterior. Consider a potted plant or hanging flower basket. This is one of the easiest and most affordable ways to make your front porch stand out. 

4. Trim Shrubs & Trees

Overgrown shrubs and trees can detract from the overall appearance of your home's exterior. Trim them back to their natural shape, and remove any dead branches. Also, dig out or cut back any species overflowing onto your walkway or driveway or blocking any windows.

5. Add Window Boxes 

Window boxes can help elevate the overall appearance of a home and they add a charming touch to windowsills, balconies, or porches. Additionally, window boxes are a great option for those with limited garden space or who live in urban areas where outdoor gardening options may be limited.

6. Invest In Outdoor Lighting

Outdoor lighting can highlight the beauty of your garden and add a touch of elegance to your home's exterior. Consider installing solar-powered lights along garden paths or using lights to accentuate your favorite trees or shrubs.

A well-maintained garden can make a huge difference in the appearance and value of your home, so don't hesitate to get your hands dirty and put these gardening tips into practice to boost your home's exterior this spring.

7 Tips for Creating a More Sustainable Home

If you aim to live a more sustainable lifestyle, you can implement various modifications and upgrades in your Vermont home to make it more eco-friendly. Apart from reducing your energy expenses, some changes can also add value to your Vermont property.

1. Switch Out Light Bulbs

Replace traditional incandescent light bulbs with energy-saving LED or CFL bulbs that consume less energy and have a longer lifespan.

2. Install a Smart Thermostat

A programmable thermostat can help regulate the temperature in your home and reduce energy consumption by adjusting heating and cooling settings based on your schedule and preferences.

3. Use Natural Cleaning Products

Many conventional cleaning products contain harmful chemicals that can harm the environment and your health. Opt for natural and eco-friendly cleaning solutions like vinegar, baking soda, and lemon juice. Eco-friendly paint also will help to reduce the release of toxins that pollute air pollution.

4. Reduce Water Waste

Fix leaks, install low-flow shower heads and faucet aerators, and consider using a rain barrel to collect rainwater for outdoor water.

5. Switch to Renewable Energy Sources

Consider installing solar panels or wind turbines to power your home with renewable energy sources. Alternatively, you can enroll in a green energy program offered by your utility company.

6. Invest in Energy-Efficient Appliances

When replacing old appliances, look for energy-efficient models with the ENERGY STAR label; this indicates that they meet energy-efficient guidelines. Efficiency Vermont compares these products to help you get the best deal.

7. Reduce, Reuse, and Recycle

Make a conscious effort to reduce waste by reducing consumption, choosing reusable products, and recycling materials. Composting food scraps and yard waste also reduces the amount of waste going to landfills.

Incorporating these eco-friendly modifications and lifestyle changes in your home will significantly reduce your carbon footprint. Besides, they will increase your property's value, which could benefit you when selling your home. Want to know the current market value of your Vermont home? Find Out today.

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