Islands Realty

Vermont Market Update: June 2021

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!

Infographic Vermont Real Estate Market Update for June 2021

Island Insights: Keeping up with Coldwell Banker Islands Realty

'Island Insights Newsletter' Drone photo of 38 Community Lane

It is hard to believe that July marks one year since we moved into our new office at 38 Community Lane! Since the big move we have enjoyed the state of the art building designed by Nate Hayward of Hayward Design Build as well as the communal space and the synergy it brings. 

We are proud to announce that our success in 2020 has titled Coldwell Banker Islands Realty as a Bronze Level Premier Office. This designation is given to the top 32% of all Coldwell Banker offices in North America. Thank you to our community and clients for the continued support. Join us in also congratulating Co-Owner, Franz Rosenberger , who was named the 2020 Number One Coldwell Banker Sales Associate in the state of Vermont! Congratulations, Franz, on this outstanding achievement from all of us at Coldwell Banker Islands Realty.

The summer selling season has started off with a bang! So far in 2021, Coldwell Banker Islands Realty had 47 closings, listed 42 properties, has 19 active listings and 20 listings under contract.* While Grand Isle County is our home base, we have broken into new markets and are selling more homes than ever throughout Northwestern Vermont. The historically low inventory of homes for sale makes this a great time for homeowners to take advantage of one of the hottest real estate markets we’ve ever seen! 

In 2020, we transacted over $43.5 million of real estate sales in Grand Isle County! Our company’s success is proven in the numbers and we are dominating the lakefront and second home market in Grand Isle County. From 2017-2020, we have seen a 27% average annual growth rate. Our systems drive results and we continue to innovate ways to uniquely market homes.

Northwest Vermont Market Snapshot Infographic

 

Coldwell Banker Islands Realty: Proven in the Numbers

Summer selling season is heating up and there is no sign of it slowing anytime soon. In Grand Isle County, there have been 57 residential homes sold to date, a total of 77 listed, with an average sale price of $420,192. Currently, there are 36 active listings in Grand Isle County. The historically low inventory of homes for sale makes this a great time for homeowners to take advantage of one of the hottest real estate markets we’ve ever seen!

 

 

 

 

 

 

 

 

 

 

Our niche lakefront marketing strategies are proven in the numbers and have led us to dominate the lakefront and second home market in Grand Isle County. In 2020, we transacted over  $43.5 million of real estate sales in Grand Isle County!   From 2017-2020, we have seen a  27% average annual growth rate. Our systems drive results and we continue to innovate ways to uniquely market your home. 

Coldwell Banker Islands Realty has the marketing power, global reach and local expertise to get your home noticed by interested buyers. Our award winning Realtors are experts in the communities they serve and they will advocate for you throughout the sale of your home. 

Ready to get noticed? Coldwell Banker Islands Realty delivers exceptional marketing programs that drive results. Schedule a complimentary home consultation with a local real estate expert today! 

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7 Must See State Parks in The Champlain Islands

The Champlain Islands are home to some of the greatest and most unique state parks in Vermont. From day use parks to island camping, these hidden gems are sure to be enjoyed by all ages. The guide below will help you learn about the best parks to visit in the Northwest Lake Champlain region. 

Aerial View of Sandbar State Park Vermont

1. Sand Bar State Park 

Sandy beaches, bird watching, and panoramic lake views the Sand Bar State Park is located right on the shores of Lake Champlain’s Inland Sea. This park is open daily and is open from 10am to sunset. This park has 2000 feet of sand beach making it a great spot to swim. Plus, they have kayaks available to rent! 

Grand Isle State Park Vermont Sign

2. Grand Isle State Park

Grand Isle State Park is Vermont's most visited state park equipped with great camping and even some nature trails! With 4,150 feet of shoreline set up for fishing and swimming, the vast number of available camping sites in the park make it Vermont’s second largest campground.

Knight Point State Park Vermont Sign

3. Knight Point State Park

Knight Point State Park is located right by The North Hero Drawbridge on Lake Champlain’s “Gut”. This 54 acre park is strictly day use so snag a picnic table and enjoy lunch by the water or rent out the pavilion if you have a group function!

Aerial view of Alburgh Dunes State Park Vermont

4. Alburgh Dunes State Park 

Grab a cooler, your trunks, a smile and head on up to the 625 acre paradise known as Alburgh Dunes State Park. This park is a local favorite with one of the longest sandy beaches on Lake Champlain, making the dunes the perfect place to enjoy a day of beach games and swimming.

Boat at Woods Island State Park in Vermont

5. Burton Island State Park 

Hop on the boat and trek out to the beautiful 253 acre Burton Island State Park. Located on Lake Champlain’s Inland Sea, this park makes for a very unique boat camping experience. You can also travel to Burton Island by ferry located in St. Albans, Vermont.

Knight Island Vermont State Park Sign

6.  Knight Island State Park

Knight Island State Park is located just around 2 miles from the North Hero Village on Lake Champlain’s Inland Sea and is only accessible by boat. This island getaway will not disappoint. Reserve a lean-to ahead of time, pack up, and treat yourself to a peaceful night out in nature. During the colder months you can walk out on the frozen lake to Knight Island. It is just a 40 minute walk from the North Hero Village!

Tent Camping at Woods Island State Park

7. Woods Island State Park 

Woods Island State Park is another great island state park on Lake Champlain’s Inland Sea. When visiting Woods Island prepare for a slightly more rugged camping experience than one might have on Knight Island or Burton Island. This park is known as a “remote area” campground with limited sites. However, it still has much to offer in terms of camping and exploring as long as you are prepared!

Incomparable state parks, close-knit community, and countless outdoor activities make the Lake Champlain Islands region a wonderful place to enjoy year-round or seasonally. Looking for more things to do when visiting? Read about these 10 can’t miss places to see in the Champlain Islands

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Vermont Market Update: May 2021

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

As the weather warms and pandemic restrictions ease across much of the country, the U.S. housing market shows little sign of cooling. Robust buyer demand, fueled by low mortgage rates, continues to outpace supply, which remains near historic lows. Nationwide, inventory remains much lower than it was at this time last year, and sales prices are surging as a result.

New Listings increased 2.7 percent for single-family homes but decreased 8.4 percent for townhouse-condo properties. Pending Sales increased 0.4 percent for single-family homes but decreased 4.7 percent for townhouse-condo properties. Inventory decreased 49.8 percent for single-family homes and 62.3 percent for townhouse-condo properties.

The Median Sales Price was up 20.6 percent to $380,000 for single-family homes and 8.3 percent to $259,950 for townhouse-condo properties. Days on Market decreased 63.1 percent for single-family homes and 60.8 percent for townhouse-condo properties. Months Supply of Inventory decreased 56.7 percent for single-family homes and 66.7 percent for townhouse-condo properties.

With such limited supply of existing homes to purchase, all eyes are on home builders to provide a much-needed boost of inventory to the market to help meet buyer demand. However, increasing material and labor costs, along with supply chain challenges, have contributed to significantly higher construction costs, with builders passing these costs on to homebuyers. And while the warmer temperatures, rising sales prices, and the reopening of the economy may draw more sellers to the market, historically low levels of homes for sale are likely to continue for some time.

If you're thinking of selling your home you need an agency who can help you navigate this fast paced market. Contact one of our local realtors to learn more.

Vermont Real Estate Market Report May 2021

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