The Lake Champlain Islands are home to the Chazy Fossil Reef, one of the most historic places to see in Vermont. The geological wonder has two wonderful viewing sites located in the town of Isle La Motte. This 1,567 acre reef is the oldest reef in the world, as it’s home to 480 million year old fossils! A variety of species are on display with common ones being early snails, squids, and sea sponges. Thanks to the Isle La Motte Preservation Trust, the reef is a designated National Natural Landmark and a part of the 85-acre Goodsell Ridge Fossil Preserve as well as the Fisk Quarry Reserve, which really speaks to the town’s commitment to preservation. 

The Goodsell Ridge Fossil Preserve welcomes locals and tourists to go on a self-guided tour through history on a 4,600ft trail. Along the way are informational panels to help the travel through time. Additional enjoyment is provided during the months of May through October as a museum and visitor center open up. These activities are found in a restored Vermont dairy barn and are staffed by volunteers. This summer season also brings the opportunity to schedule a group tour. Kids who go to school in Grand Isle County will most likely experience one of these adventures of a group tour on a field trip. 

The Fisk Quarry Preserve is only two miles south of the Goodsell Preserve and is also always open to the public. It too offers a self-guided tour on a shorter trail. Along with the quarry providing a fun and educational time for everyone, it’s also still used for geological research. The limestone that the quarry is made up of was used to build quite significant buildings across the country, including our very own Statehouse. Luckily, the Isle La Motte Preservation and the Preservation Trust of Vermont preserved the quarry before any more historical rock could be taken. 

The Chazy Reef is a perfect place to relax, learn, and get out in Grand Isle County’s incredible scenery!

 

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The Coldwell Banker Islands Realty team had a great time participating in Vermont's Annual Green Up Day this past month. It was a great way to get outside and help make the Lake Champlain Islands community cleaner and greener! Check out some of the photos from May 7th, 2022 below. 

The average 30-year fixed rate mortgage exceeded 5% in April, the highest level since 2011, according to Freddie Mac. The recent surge in mortgage rates has reduced the pool of eligible buyers and has caused mortgage applications to decline, with a significant impact on refinance applications, which are down more than 70% compared to this time last year. As the rising costs of homeownership force many Americans to adjust their budgets, an increasing number of buyers are hoping to help offset the costs by moving from bigger, more expensive cities to smaller areas that offer a more affordable cost of living.

New Listings decreased 27.2 percent for single-family homes but remained flat for townhouse-condo properties. Pending Sales decreased 19.7 percent for single-family homes but increased 34.4 percent for townhouse-condo properties. Inventory decreased 40.7 percent for single-family homes and 48.6 percent for townhouse-condo properties.

The Median Sales Price was up 21.8 percent to $432,250 for single-family homes and 26.4 percent to $350,000 for townhouse-condo properties. Days on Market decreased 41.7 percent for single-family homes and 48.9 percent for townhouse-condo properties. Months Supply of Inventory decreased 30.8 percent for single-family homes and 45.5 percent for townhouse-condo properties.Affordability challenges are limiting buying activity, and early signs suggest competition for homes may be cooling somewhat.

Nationally, existing home sales are down 2.7% as of last measure, while pending sales dropped 1.2%, marking 5 straight months of under contract declines, according to the National Association of REALTORS^®. Inventory remains low, with only 2 months supply at present, and home prices continue to rise, with the median existing home at $373,500, a 15% increase from this time last year. Homes are still selling quickly, however, and multiple offers are common in many markets.

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

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