See the latest Northwestern Vermont real estate market report presented by NVBR below.

January started off strong for the housing market, with healthy buyer demand and strong market fundamentals. A robust increase in housing starts in December points to an active year for new construction, but higher material costs, especially lumber, and a limited supply of buildable lots will temper the number of new units.

New Listings decreased 14.6 percent for single-family homes and 41.3 percent for townhouse-condo properties. Pending Sales increased 8.0 percent for single-family homes but decreased 18.6 percent for townhouse-condo properties. Inventory decreased 56.7 percent for single-family homes and 65.4 percent for townhouse-condo properties.

The Median Sales Price was up 6.9 percent to $339,000 for single-family homes but decreased 9.4 percent to $234,750 for townhouse-condo properties. Days on Market decreased 44.3 percent for single-family homes and 27.8 percent for townhouse-condo properties. Months Supply of Inventory decreased 57.1 percent for single-family homes and 65.0 percent for townhouse-condo properties.

The Mortgage Bankers Association’s January research estimates approximately 2.7 million homeowners with mortgages are currently in forbearance plans. Some of these homes may eventually come to market, but given the strong appreciation in most market segments in recent years, these eventual home sales are likely to be mostly traditional sellers. However, a modest increase in short sales and foreclosures at some point this year would not be surprising.

See the latest Northwestern Vermont real estate market report presented by NVBR below.

The Northwestern Vermont Board of REALTORS® (NVBR) has released its market statistics for December 2020. The information is derived from data contained in the New England Real Estate Network and covers Chittenden, Franklin and Grand Isle Counties.

December is normally one of the slowest months of the year but strong buyer demand across most segments of the market, buoyed by near-record low interest rates, continue to drive a healthy sales pace in the face of a new wave of COVID-19 infections and a softening jobs market.

New Listings decreased 4.3 percent for single-family homes but increased 31.0 percent for townhouse-condo properties. Pending Sales increased 13.6 percent for single-family homes and 31.3 percent for townhouse-condo properties. Inventory decreased 54.7 percent for single-family homes and 57.0 percent for townhouse-condo properties.

The Median Sales Price was up 14.8 percent to $350,000 for single-family homes and 1.1 percent to $242,500 for townhouse-condo properties. Days on Market decreased 41.8 percent for single-family homes and 21.7 percent for townhouse-condo properties. Months Supply of Inventory decreased 56.3 percent for single-family homes and 57.1 percent for townhouse-condo properties.

With low mortgage rates and strong buyer demand in most market segments, the housing market of early 2021 looks to continue the trends we saw in the second half of 2020. Low inventory and multiple offers on in-demand properties and market segments are likely to remain common while the market waits and hopes for a boost in new construction and a surge in home sellers to help provide more balance to the market.

In this episode of Community Beat Annie sits down with Ron Hackett, owner of Hackett's Orchard in South Hero, Vermont. Ron shares the history of the orchard and what it is like to live in South Hero, Vermont.

Ron and Celia Hackett have owned Hackett's Orchard since 1967 and now three generations of family help run the orchard. They have a 50 acre farm that grows 47 varieties of apples. They have thousands of visitors each year who not only come for the apples but for their delicious homemade apple cider doughnuts as well. 

To learn more about Hackett's Orchard visit their website or Facebook Page.

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Full Length Interview:

Like Coldwell Banker Islands Realty Facebook Page to see more videos!

Coldwell Banker Islands Realty has listed and sold some beautiful homes this year. See our top 5 sold homes of 2018.

If you are interested in learning more about listing with Coldwell Banker Islands Realty visit our Seller Resources page or shoot us an email!

Welcome to our new video series, Community Beat. Follow us as we interview people and businesses to learn more about Lake Champlain and Northwestern Vermont. Through this series, we hope to gain insight into the local community and what makes our area so unique.

In our premiere video, we sit down with the co-owner and founder of Hero’s Welcome General Store, Bob Camp, to learn more about this small business. This century-old general store and marina is located on North Hero Island on Lake Champlain. The summer months are bustling with activity from boaters docking for gas and patrons lining up for one of their delicious sandwiches made on a homemade roll. You can find a gift for anyone in their extensive gift shop that spans two floors. To learn more about Hero's Welcome visit their website.

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Full-Length Interview:

Photo Sources: Hero's Welcome General Store website photo gallery and Facebook Business Page.