Greetings, fellow real estate enthusiasts! Today, we're diving into the dynamic market of Northwest Vermont, unpacking key statistics from February 2024 to help you understand the trends shaping buying and selling decisions in our region. Whether you're considering purchasing your dream home or selling your property, knowledge is your greatest asset. Let's explore the numbers and what they mean for you. These statistics are for single-family home sales in Grand Isle, Franklin, and Chittenden County. 

Median Sales Price: $432,250

February saw a 6% decrease from the previous month and a 3.7% decrease compared to February 2023. While this may seem like a downturn, it's essential to understand the broader context. For buyers, this indicates potential opportunities for more affordable purchases, while sellers may need to adjust their pricing strategies accordingly.

Closed Sales: 64

There was a notable 41.3% decrease from the previous month and a 5.9% decrease from February 2023. This decline in closed sales reflects a slowdown in the market, which could be attributed to various factors such as seasonal fluctuations or shifts in buyer demand. Buyers may find less competition, while sellers might need to be patient and strategic in their approach.

Median Days On Market: 6

With a remarkable 76% decrease from the previous month and a 25% decrease from February 2023, homes are spending less time on the market. This swift pace underscores the urgency for both buyers and sellers to act decisively. Buyers should be prepared to make quick decisions, while sellers can capitalize on favorable conditions by ensuring their properties are market-ready.

List Price Received: 99.6%

While there was a marginal 0.1% decrease from the previous month, February 2024 saw a 0.1% increase from the same period last year. This statistic indicates that sellers are generally receiving close to their asking price, highlighting the stability of the market. For sellers, it underscores the importance of pricing properties accurately, while buyers should be prepared to negotiate within a narrow margin.

New Listings: 91

There was no change from the previous month, but February 2024 saw a 1.1% increase compared to the same period last year. This steady influx of new listings provides buyers with a diverse range of options to explore. Sellers, however, may face increased competition and should focus on showcasing the unique features of their homes to stand out in the market.

Active Inventory: 141

Despite a 6.6% decrease from the previous month, February 2024 witnessed a 3.7% increase compared to February 2023. This balance between supply and demand is crucial for maintaining a healthy market environment. Buyers have a reasonable selection of homes to choose from, while sellers should be mindful of market conditions when pricing their properties.

Northwest Vermont Market Review By County:

Chittenden County:

• Active Inventory = 64
• Median Sales Price = $566,500
• Median Days On Market = 6
• Closed Sales = 37
• List Price Received = 100.7%

Franklin County:

• Active Inventory = 54
• Median Sales Price = $339,950
• Median Days On Market = 7
• Closed Sales = 24
• List Price Received = 97.9%

Grand Isle County:

• Active Inventory = 24
• Median Sales Price = $300,000
• Median Days On Market = 64
• Closed Sales = 3
• List Price Received = 101.0%

As you can see, these statistics offer valuable insights for both Vermont buyers and sellers alike. Whether you're looking to purchase your first home, upgrade to a larger space, or sell your current property, understanding the nuances of the Northwest Vermont real estate market is essential for making informed decisions.

If you're curious about how these trends specifically impact your area of interest, please reach out for a personalized market analysis. By leveraging the expertise of a seasoned real estate professional, you can navigate the complexities of the market with confidence and clarity.

In conclusion, the Northwest Vermont real estate market presents a unique blend of opportunities and challenges. By staying informed and proactive, you can position yourself for success in achieving your real estate goals. Happy house hunting!

For a complimentary market analysis tailored to your needs, contact us today!

 

 

March’s move-in ready home is hidden in plain sight! From the moment you pull up the driveway, you'll be wowed by the privacy and peaceful setting of this four-bed, two-bath home. The residence is located on 5.24 beautiful acres in a convenient Grand Isle location with views and pristine lake frontage. This home is currently for sale.

It's maple sugaring season in Vermont, and you're invited to join the festivities! The Vermont Maple Sugar Makers' Association hosts an annual Maple Open House Weekend on March 23rd and 24th. Experience the magic of this cherished tradition as local sugarmakers throughout the state open their doors for maple education, guided tours, and delightful sweet samples. Don't miss out on learning about the history and art of maple sugaring. Below you’ll find great local sugarhouses you simply can't miss in Northwest Vermont. 

1. Sugartree Maple Farm | Williston, VT

Sugartree Maple Farm will have a tour of their sugarhouse, maple hotdogs, live music, and even maple adult beverages by Bevo Catering company. 

Open House Information

2. Palmer’s Sugarhouse | Shelburne, VT

Palmer’s Sugarhouse invites the community to their sugar house for Sugar on Snow parties every Saturday and Sunday from March 2nd to April 14th from 9:00 AM to 4:00 PM. You can expect a maple pancake breakfast, live music, maple hot dogs, lattes, and donuts. Plus, this is conveniently located less than 20 minutes away from Burlington, Vermont. 

Learn more

3. Mountainview Mapleworks at the Giroux Family Farm | Richmond, VT

Visit Mountainview Mapleworks to see their family-run operation that includes a solar-powered sugarhouse! They will have trails to see the running sap, excellent maple samples, and even maple coffee and doughnuts! There is ample parking, and they will also have Vermont maple syrup for sale.

Open House Information

4. Palmer Lane Maple | Jericho, VT

Palmer Lane Maple will have many sweet treats such as maple cream donuts, maple hot dogs, creemees, and much more! They are also collecting items for their local food shelf. If you bring two small food items, you get a small bag of maple cotton candy for free!

Open House Information

5. End-O-Road Maple | Jericho, VT

End-O-Road Maple’s open house will have maple goodies and an opportunity to feed their sheep. Voted one of the top sugarhouses in Chittenden County, this is a must-see spot! 

Open House Information

6. Mcbride’s Family Maple | Westford, VT

Head to Mcbride’s Family Maple’s small but highly efficient solar-powered operation! They will have sugar-making demonstrations, samples, and lots of information for visitors.

Open House Information

7. The Maple Fix | Fairfax, VT

Don’t miss amazing maple goodies at the Maple Fix Sugar House. They will have tours, free samples, baked donuts, and hot dogs boiled in syrup. Don’t miss out on trying these delicious local goodies! 

Open House Information

8. Gange Maple | Swanton, VT

Gange Maple has cultivated maple syrup in northern Vermont for five generations! Their open house festivities include delicious maple donuts, maple creemees, and syrup tastings.

Open House Information

 

Whether you’re indulging in sweet samples or embarking on guided tours, you won’t regret immersing yourself in the magic of Vermont's maple legacy. Make sure to check out these open houses to celebrate this cherished tradition during sugaring season. Check out the 2024 maple map to see the full guide of all Vermont sugar houses participating in the 2024 Maple Open House weekends.  

Maintaining your home is the cornerstone of homeownership, ensuring its longevity and saving you from hefty repair bills down the line. With spring on the horizon, now's the prime opportunity to tackle those critical home maintenance tasks. By staying proactive and addressing key maintenance needs now, you'll ensure your Vermont home will stand strong against whatever nature throws its way in the seasons ahead.

1. Check your gutters and downspouts

Ensure gutters and downspouts are free from debris and securely attached to your home. Take a close look for any damage or leaks that may have occurred over the winter.

2. Inspect your roof

Look for any signs of damage or wear, such as missing or damaged shingles, chimney cracks, or attic leaks. Arrange for repairs if necessary.

3. Test your sump pump 

If you have a basement, test your sump pump to ensure it works properly. You don't want to find out it's not working during the spring thaw.

4. Look at the siding for damage

The weather can take a toll on the exterior of your home. Inspect your siding and look for any cracks, warping, rot, and pest invasion. There could be underlying problems so get a professional opinion if you’re unsure. 

5. Check your smoke and carbon monoxide detectors

Test your smoke and carbon monoxide detectors and replace any batteries if needed.

6. Dryer vent cleaning

 Lint build-up in your dryer vent can be a fire hazard. Clean out your dryer vent and inspect it for any damage.

7. Check the foundation 

 Inspect your foundation for any cracks or damage that may have occurred over the winter.

8. Weatherproof windows and doors

Check your windows and doors for any drafts or leaks. Replace any damaged weatherstripping or caulking.

9. Outdoor equipment maintenance 

If you have outdoor equipment like lawnmowers or trimmers, clean them up and perform any necessary maintenance before the grass starts growing again.

10. Examine your pipes for damage

As the weather starts to warm up, frozen pipes may start to thaw and potentially cause leaks. Check all pipes for any visible signs of damage, such as cracks or bulges. If you find any damage, arrange for repairs immediately to prevent water damage to your home.

Keeping your home in good shape not only attracts more buyers and boosts property value if you decide to sell later, but it also helps you avoid unexpected issues during inspections and negotiate better terms. Plus, it gives buyers peace of mind knowing they're investing in a well-maintained, move-in-ready property. For more home maintenance tips or advice on what to do before you list this spring, contact a Coldwell Banker Islands Realty Agent.

Welcome, future homeowners and sellers! Today, we're diving into the bustling real estate scene of Northwest Vermont. Whether you're considering buying or selling, understanding the latest trends and statistics is crucial. Let's break down the key points from January 2024 to help you make informed decisions. These statistics are for single-family home sales in Grand Isle, Franklin, and Chittenden County. 

Median Sales Price:

• In January 2024, the median sales price for single-family homes in Northwest Vermont stood at $460,000. This figure marks a 5.7% increase from the previous month and a substantial 7% rise from January 2023. For buyers, this signals a growing market where property values are appreciating, potentially leading to higher investment returns in the long run. Sellers can rejoice at the prospect of fetching better prices for their homes, reflecting a healthy and competitive real estate landscape.

Closed Sales:

• Despite a 13.5% decrease from the previous month, January 2024 saw a 23.9% increase in closed sales compared to the same period last year. This suggests a robust demand for homes in Northwest Vermont. Buyers should be prepared to act swiftly when they find a property that meets their needs, as competition remains stiff. Sellers can leverage this demand to their advantage, but pricing their homes competitively and ensuring they stand out in a crowded market will be key to attracting buyers.

Median Days On Market (DOM):

• The median DOM rose significantly to 25 days, marking an 85.2% increase from the previous month and doubling from January 2023. This shift indicates a slight cooling in the market compared to the rapid pace seen in previous months. Buyers may find more breathing room to conduct thorough inspections and negotiations, while sellers should be mindful of pricing strategies to avoid prolonged listing periods.

List Price Received:

• Sellers received approximately 99.7% of their list price in January 2024, reflecting a slight dip from the previous month and a marginal decrease from the same period last year. While this may signal a slight softening in negotiations, it still indicates a seller-friendly market where buyers are willing to meet asking prices. Buyers should be prepared to negotiate effectively, while sellers should aim for realistic pricing to attract motivated buyers.

Active Inventory:

• The active inventory in Northwest Vermont decreased by 19.2% from the previous month but increased by 4.3% compared to January 2023. This suggests a tightening of available housing stock in our area, potentially leading to increased competition among buyers. Buyers should act decisively and consider broadening their search criteria to find suitable options. Sellers, on the other hand, may benefit from listing their properties in a market with limited inventory, potentially leading to quicker sales and favorable terms.

Months Supply of Inventory (MSI):

• The MSI decreased to 1.3 months, marking a 6.6% decrease from the previous month and a 15.8% decrease from January 2023. A lower MSI indicates a seller's market, where demand outpaces supply. For buyers, this means facing heightened competition and possibly needing to make stronger offers to secure a desired property. Sellers can capitalize on the low MSI by strategically pricing their homes and leveraging the scarcity of available inventory to their advantage.

Northwest Vermont Market Review By County:

Chittenden County:

• Active Inventory = 80
• Median Sales Price = $523,500
• Median Days On Market = 12
• Closed Sales = 78
• List Price Received = 100.6%

Franklin County:

• Active Inventory = 49
• Median Sales Price = $327,500
• Median Days On Market = 34
• Closed Sales = 24
• List Price Received = 97.6%

Grand Isle County:

• Active Inventory = 22
• Median Sales Price = $420,000
• Median Days On Market = 44
• Closed Sales = 7
• List Price Received = 97.4%

In conclusion, the Northwest Vermont real estate market continues to exhibit strength and resilience, with both buyers and sellers finding opportunities in the current landscape. Whether you're looking to buy or sell, staying informed about market trends and statistics is key to making sound decisions.

Ready to explore your options further? Contact us today for a personalized market analysis tailored to your area of interest. Let's navigate the Vermont real estate market together! Contact us now for a complimentary market analysis of your area!