The Northwestern Vermont Board of REALTORS® (NVBR) has released its market statistics for July 2021. The information is derived from data contained in the New England Real Estate Network and covers Chittenden, Franklin and Grand Isle Counties.

The White House recently announced additional measures to help struggling homeowners avoid foreclosure as they exit forbearance, including loan modifications and payment reductions. Borrowers with federally backed mortgages can lock in lower interest rates and extend the length of their mortgages. For borrowers who can’t resume their monthly mortgage, HUD will offer lenders the ability to provide all eligible borrowers with a 25% principal and interest reduction.

New Listings decreased 23.3 percent for single-family homes and 26.7 percent for townhouse-condo properties. Pending Sales decreased 8.2 percent for single-family homes and 12.4 percent for townhouse-condo properties. Inventory decreased 60.7 percent for single-family homes and 54.4 percent for townhouse-condo properties.

The Median Sales Price was up 14.3 percent to $400,000 for single-family homes and 7.4 percent to $290,000 for townhouse-condo properties. Days on Market decreased 61.4 percent for single-family homes and 55.2 percent for townhouse-condo properties. Months Supply of Inventory decreased 63.0 percent for single-family homes and 56.3 percent for townhouse-condo properties.

The National Association of REALTORS® reported inventory of homes for sale nationwide rose slightly in June as more sellers list their homes, hoping to take advantage of record-high sales prices across the country. Even with renewed home seller interest, inventory overall remains 18.8% lower than a year ago, according to NAR.Want to learn more about your current market? Request a free market analysis from one of our Realtors. 

August's Hidden Home is a warm and welcoming South Hero home with lake access located in a small lakeside community secluded near the Bike Path. This year-round home is located on 0.21 acres and has been well maintained and updated through out. Inside you will find an open floor plan on the first floor with pine floors, exposed beams, built-ins and a cozy pellet stove with an attractive pine mantle. The renovated kitchen features cherry cabinets and countertops, and stainless steel appliances. Just off the kitchen is the dining area with with beautiful built-ins. The shared lake access is a quick walk away and features a gradual stone beach perfect for swimming, kayaking and/or boating. Unwind and take in the outstanding sunsets. Enjoy summer meals out on the patio with established gardens and mature trees surrounding you. Subscribe to our newsletter Island Insights for more Hidden Homes!

Summer 2021 is flying by so far! Your local Island guides are here to ensure that you stay in the know about all of the remaining Champlain Island happenings. From live music to yoga, the month of August is full of awesome activities that you won’t want to miss. We have gathered just some of the top upcoming events in our close-knit community below. Also, make sure to stop by the Snow Farm Vineyard Thursday, August 12th as the team at CBIR will be there handing out local treats!

August 2021 Events

Yoga at Kraemer & Kin
Kraemer & Kin will be hosting yoga sessions every Sunday throughout the month of August from 10:30am - 11:30am with instructor Majken Tranby, founder of Moodra Yoga.

Reserve a spot here.

Oliver, Jr. A Musical

Island Arts Center will be showcasing Oliver Jr. a Musical at the Homer Knight Barn August 6th - 8th. Purchase tickets. Island Arts also has a handful of events throughout the month of August including Tai Chi, concerts, and a variety of music lessons. 

See all events.

New Grand Isle Tasting Room
Ellison Estate Vineyard opened a new tasting room located on Grand Isle’s East Shore open on Thursdays and Saturdays 11:30am - 5pm. 

Book now.

South Hero Land Trust
Storywalks, Nature Ramble, and a Community Celebration Dinner are just some of the great events hosted by the South Hero Land Trust during the month of August.
Explore all events.

Live Music at Snow Farm
The Snow Farm Vineyard is a summer Island staple with Live Music every Thursday evening from 6:30pm - 8:30pm in South Hero.
See Live Music Line Up
See Snow Farm Event Calendar

Champlain Islands Farmers Market
Support your local farmers and makers at the Champlain Islands Farmers Market every Wednesday at St. Rosa Lima Church from 3pm - 6pm and Saturdays at St. Joseph’s Church from 10am - 2pm.

Live Music at Pier Bar
Head to the Steamship Pier Bar & Barbeque for Live Music from 5:30pm - 8pm every Wednesday and Saturday. Also, be sure to try out some of their new Summer BBQ 2021 menu items.

The Northwestern Vermont Board of REALTORS® (NVBR) has released its market statistics for June 2021. The information is derived from data contained in the New England Real Estate Network and covers Chittenden, Franklin and Grand Isle Counties.

School’s out, and as vaccination rates rise and America enters a new normal, the U.S. housing market continues along at a frenzied pace, with low interest rates and limited inventory fueling record high sales prices. May saw the median existing-home sales price exceed $350,000, a 24% increase and the largest year-over-year increase since 1999, according to the National Association of REALTORS®. Eager buyers are making multiple offers, some for well over asking price, while others are making offers on homes sight unseen.

New Listings decreased 3.3 percent for single-family homes but increased 27.1 percent for townhouse-condo properties. Pending Sales decreased 4.6 percent for single-family homes and 8.9 percent for townhouse-condo properties. Inventory decreased 43.9 percent for single-family homes and 34.0 percent for townhouse-condo properties.

The Median Sales Price was up 18.5 percent to $385,000 for single-family homes and 10.3 percent to $290,000 for townhouse-condo properties. Days on Market decreased 61.3 percent for single-family homes and 34.8 percent for townhouse-condo properties. Months Supply of Inventory decreased 51.7 percent for single-family homes and 41.2 percent for townhouse-condo properties.

The increase in sales prices comes with a slight decline in existing home sales nationwide, as homebuyers struggle with declining affordability amid a lack of inventory, forcing some buyers to simply wait it out in hopes of more inventory and less competition. Meanwhile, home builders are trying to meet the increased market demand, with housing starts up 3.6% in May from April, according to the Commerce Department. As we ease into new routines and look forward to a post-pandemic future, one thing remains certain: America desperately needs more homes.

Wondering what your home is worth in your current market? Get a free market analysis today! 

Beautiful 4 bedroom 5 bath Contemporary built in 2012. This home is secluded on 3.2 private acres in the Mallets Bay area where you can moor your boat. The extensive professional landscaping and gardens were designed by Vermont Stone. Enjoy the tranquil sounds of waterfalls leading to a Koi Pond and patio. The gardens also include mature specimen trees and perennial gardens to enjoy through the year. 

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