Islands Realty

Vermont Market Update: December 2021

Northwest Vermont Real Estate Market Report December 2021

The 2021 housing market was one for the history books. After three consecutive months of increases recently, existing home sales are on pace to hit their highest level in 15 years, with an estimated 6 million homes sold in 2021 according to the National Association of REALTORS®. Sales prices reached new heights, inventory hit rock bottom, and homes sold in record time, often for well above asking price. Mortgage rates, which began the year at historic lows, remain attractive, and homeowners who choose to sell in the coming months can expect to see plenty of buyer activity due to pent-up demand during the pandemic.

New Listings decreased 2.2 percent for single-family homes and 10.5 percent for townhouse-condo properties. Pending Sales remained flat for single-family properties but increased 9.8 percent for townhouse-condo properties. Inventory decreased 46.2 percent for single-family homes and 54.2 percent for townhouse-condo properties. The Median Sales Price was up 14.3 percent to $400,000 for single-family homes and 29.9 percent to $315,000 for townhouse-condo properties. Days on Market remained flat for single-family homes but increased 2.8 percent for townhouse-condo properties. Months Supply of Inventory decreased 47.1 percent for single-family homes and 55.6 percent for townhouse-condo properties.

Looking ahead, experts anticipate many of the housing market trends of 2021 will continue in 2022, albeit at a more moderate level. Strong buyer demand and inventory shortages are likely to persist over the next year. Home sales are projected to remain strong but will be tempered by the limited supply of homes, higher sales prices, and rising interest rates, with the Federal Reserve planning multiple rate hikes in the new year. Price growth is expected to slow somewhat as a result, but affordability will likely remain a top constraint for some homebuyers.

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

Island Insights: A Look Back At 2021

Island Insights January Issue: A Look Back At 2021 With Coldwell Banker Islands Realty

Happy New Year! As we begin a new year we are reflecting on 2021 and those who have helped shape our business. It’s been quite the year! We celebrated several milestones this year, welcomed new faces and continued to do what we love and guide people home.

The office celebrated 25 years with Coldwell Banker. Co-owner and Realtor, Franz Rosenberger, was awarded top Coldwell Banker agent in Vermont. Co-owner and Realtor, Evan Potvin, and Realtor, Joy Gess, became certified as Luxury Property Specialists. We welcomed several new Realtors and welcomed Sue Arguin as the Agent Development Coordinator. These new additions will be sure to strengthen and add to the culture of CBIR. Through Commissions For Community, our annual donation program, we donated over $5,200 that will benefit the Grand Isle County community.

We couldn't have reached these accomplishments without the support of our team, clients and community. We are grateful for all of your support and look forward to the new year! Take a look back at 2021 in our recap video below.

 

Thank You Graphic to Coldwell Banker Islands Realty Clients

Vermont Real Estate Update: November 2021

Vermont Real Estate Market Update November 2021

The economy is improving, unemployment is falling, and the U.S. real estate market remains strong as we head into the holiday season, a period when activity typically slows as people take time to travel, celebrate, and spend time with loved ones. Although the market is not as frenetic as was seen earlier this year, buyer demand is high, bolstered by attractive mortgage rates and a low supply of inventory.


New Listings increased 6.1 percent for single-family homes but decreased 4.5 percent for townhouse-condo properties. Pending Sales increased 11.7 percent for single-family homes but decreased 10.4 percent for townhouse-condo properties. Inventory decreased 45.6 percent for single-family homes and 44.8 percent for townhouse-condo properties.


The Median Sales Price was up 15.8 percent to $415,000 for single-family homes and 7.0 percent to $276,000 for townhouse-condo properties. Days on Market decreased 20.5 percent for single-family homes and 44.4 percent for townhouse-condo properties. Months Supply of Inventory decreased 47.4 percent for single-family homes and 40.0 percent for townhouse-condo properties.


The most recent data from the National Association of REALTORS® reports the median single-family existing home sales price rose 16% in the third quarter of this year to $363,700, with all four regions of the country experiencing double-digit price growth. In new construction, builder confidence increased in November, surpassing analyst expectations and rising to 83 on the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI), the highest level since spring, despite persistent labor and supply chain challenges and a shortage of available lots.

Island Insights: Giving Back with Coldwell Banker Islands Realty

Giving Back with Coldwell Banker Islands Realty

At Coldwell Banker Islands Realty we believe a thriving business begins with the support of the community. We are proud to be a part of Grand Isle County's close-knit sphere and are grateful for the continued support of our clients and professional partners.

To show our appreciation to our fellow Islanders, we will donate a portion of our commission to a Grand Isle County organization through our annual Commissions for Community program. We look forward to giving back to our community for years to come.

This year we will be donating to the Grand Isle County Food Shelf, the Island Fall Youth Soccer Program and holding our first Champlain Islands Christmas Tree Event. We are proud to be a part of the Island's small knit community and are grateful for the continued support of our clients, professional partners, and community members.

Toys For Kids of Vermont 

Our office at 38 Community Lane will be a toy drop-off location for Toys for Kids of Vermont. Feel free to come by our office any time between 9am to 5pm until December 18th with an unwrapped toy or gift card. All of the toys donated to our barrel will stay in Grand Isle County and be distributed to local families through the Caring & Sharing program. 

Champlain Islands Xmas Tree Event

On December 7th our company will be spreading Champlain Island cheer by providing free Christmas trees for community members who may be experiencing financial hardships. We will have a bundle of 50 locally grown Vermont available from 4:30pm to 6:30pm. These will be first come, first serve so arrive early! All are welcome to join this joyful community event. There will be hot cocoa, cookies, and even an appearance from Santa Claus. Visit the event page for more updates. 

Searching for the perfect present?

This holiday season we challenge you to shop local and support Grand Isle County businesses. We have you covered with gift inspiration and great shopping spots right here in the Champlain Islands! Read our Champlain Islands Holiday Gift Guide below.

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