As summer winds down, Labor Day weekend is the perfect chance to savor the final moments of the season in Northwest Vermont. Whether you’re looking to relax by Lake Champlain, explore local farms, or enjoy classic festivities, this vibrant region offers an ideal setting to celebrate the long weekend. Join us as we explore the exciting activities coming up in the area.

Pick Your Own Sunflowers | Guillemette Farm, Shelburne, VT

Enjoy a peaceful day picking your own sunflowers for just $2 per stem at Guillemette Farm in Shelburne, Vermont. Open throughout Labor Day weekend, the self-serve farm stand also offers a variety of flowers, herbs, and the chance to meet and feed farm stand calves. Visitors can learn about dairy farming and explore the farm stand, making it a perfect way to spend time outdoors.

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Champlain Valley Fair | Essex, VT

The Champlain Valley Fair in Essex, Vermont, offers a variety of activities perfect for Labor Day weekend. Visitors can enjoy carnival rides, diverse local food vendors, live concerts, and a chance to see a variety of farm animals up close. With games, exhibits, and plenty of shopping opportunities, the fair provides fun for the whole family.

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Unlock Your Home’s Potential | South Hero, VT 

Join a panel of local experts for a dynamic discussion on maximizing your property’s value at the Worthen Library in South Hero, Vermont on Saturday, 8/31 from 10am to 11am. Realtor Joy Gess will share market insights, Interior Designer Britt Mee will reveal top home improvement tips, and Loan Officer Kelly Deforge will guide you through the mortgage landscape. Don’t miss this opportunity to learn from the pros—reserve your spot today!

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Lazy Lilac Farm Opening Day | Swanton, VT

Lazy Lilac Farm is excited to celebrate the opening day of its brand-new corn maze and pumpkin patch at 171 Bushey Road in Swanton, Vermont on August 30th, 2024.  Fred and George, the proud owners, are eager to welcome visitors to their new venture. Admission is $10 per person, with free entry for children ages 4 and under. Adding to the festivities, Mimi’s Mini Doughnies will be on-site at noon, offering delicious treats. This public event is the perfect way to kick off the season and enjoy a day of fun for all ages.

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Pop Up Artisan Market | North Hero, VT

Island Arts is thrilled to bring back its popular pop-up Artisan Market in North Hero, Vermont. Set in the picturesque Island Arts barn at 1127 US Route 2, from 10am to 2pm this public event will have a diverse array of local artists and makers. After shopping, stick around the area and explore the charm of North Hero. Consider checking out local hotspots for lunch, such as Hero’s Welcome General Store or the Pier Bar at the North Hero House.

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Mad River Valley Craft Fair | Waitsfield, VT

Don't miss the Mad River Craft Fair in Waitsfield! Discover unique handcrafted items from over 80 artists, enjoy live music from four bands, and participate in family-friendly activities like free face painting and the Dinoman Science Show. Admission is $5 for adults, with all proceeds supporting the Valley Players Community Theater, and kids 12 and under get in free. Parking is free, and the event will be held rain or shine on Sunday, September 1st. 

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Vermont Philharmonic Concert | North Hero, VT

Join Vermont’s oldest community orchestra for classical music at their summer concert at Shore Acres! Tickets are available now for this exciting performance taking place on Sunday, September 1st at 4pm. 

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Explore Local Farmers Markets | Northwest Vermont

As summer wraps up, take advantage of Labor Day weekend to explore Vermont's vibrant farmers markets. Discover fresh produce, unique crafts, and local specialties while supporting our hardworking farmers and artisans. Visit popular spots like the Champlain Islands Farmers Market, Burlington Farmers Market, and Northwest Farmers Market to experience the best of our community. 

Find a Local Farmer's Market

Whether you’re picking flowers at a local farm, enjoying the Champlain Valley Fair, or simply taking in the stunning views, there’s no better place than Northwest Vermont to bid farewell to summer. Embrace the warmth and community spirit that defines this region and make your Labor Day weekend one to remember! 

The summer real estate season is in full swing here in Northwest Vermont, and July 2024 has brought some noteworthy changes to the market. Whether you’re a potential buyer or seller, understanding these trends is key to making informed decisions. Let’s dive into the latest data on single-family home sales in our region and what it means for you. Data is for single-family home sales in Grand Isle, Chittenden, and Franklin Counties. 

What These Numbers Mean for Buyers and Sellers

• Median Sales Price

The median sales price has climbed to $540,100, reflecting a 2.9% increase from the previous month and a significant 12.5% rise from last year. For sellers, this continued growth in home values means that the market remains strong, offering an excellent opportunity to capitalize on your investment. For buyers, while the rising prices might seem daunting, it’s a sign of a robust market where your investment is likely to appreciate over time.

• Closed Sales

With 174 closed sales in July, the market has seen a 10.1% increase from June and a 10.8% increase from July 2023. This uptick in sales activity indicates that buyers are still actively purchasing homes, even as prices rise. For sellers, this is a good indicator that demand remains high, making it a favorable time to list your property. Buyers, on the other hand, should be prepared to act quickly as competition remains strong.

• Median Days On Market

The median days on market have increased to 10 days, which is a 66.7% jump from the previous month and a 42.9% increase from last year. This suggests that homes are taking a bit longer to sell compared to earlier in the year. For sellers, this could mean that pricing your home competitively and ensuring it’s in top condition is more important than ever. Buyers might find this increase in days on market to their advantage, as it could signal slightly less urgency and offer more time to make decisions.

• List Price Received

Sellers received an average of 102.1% of their list price, which is down slightly by 0.7% from June and 1.5% from July 2023. While still above 100%, this slight decrease suggests that the market may be balancing out, with fewer homes selling well above asking price. For sellers, it’s crucial to set a realistic price to attract serious buyers. Buyers may find this trend encouraging, as it could indicate more negotiating power.

• New Listings

The number of new listings has dropped to 204, an 18.4% decrease from June but a 13.3% increase from July 2023. This decrease from the previous month could lead to less competition among sellers, but the year-over-year increase shows that more homeowners are deciding to sell. For sellers, less competition in the short term might help your property stand out, while buyers should still see a healthy number of options compared to last year.

• Active Inventory

Active inventory has risen to 311 homes, marking a 2.3% increase from the previous month and a substantial 42% increase from July 2023. This growing inventory is good news for buyers, offering more choices and potentially easing some of the competition for available homes. Sellers should be aware of the increased competition and consider strategies to make their listings more attractive, such as competitive pricing or home staging.

• Months Supply of Inventory

The months supply of inventory has decreased slightly to 1.8 months, a 7.1% drop from June 2024 but still a significant 28.1% increase from July 2023. This metric indicates how long it would take to sell all the current listings at the current sales pace. Despite the small monthly decrease, the year-over-year increase suggests the market is slowly moving toward a more balanced state. For buyers, this could mean less pressure to make hasty decisions, while sellers should remain mindful of the growing inventory when setting expectations.

 

Why a Market Analysis is Essential

Understanding these market trends is crucial whether you’re buying or selling in Northwest Vermont. A personalized market analysis can provide deeper insights tailored to your specific area of interest, helping you make informed decisions. This analysis can reveal how your property compares to others on the market, what you might expect to pay as a buyer, or what price you should set as a seller.

Partnering with a Local Real Estate Expert

Navigating the Vermont real estate market can be challenging, especially with the competitive conditions we’re seeing this summer. By partnering with a local real estate expert, you gain access to their extensive knowledge of the market, their understanding of area trends, and their ability to negotiate on your behalf. Whether you’re looking to buy your dream home or sell your property for the best possible price, having a trusted professional by your side can make all the difference.

Ready to Take the Next Step?

If you’re considering buying or selling a home in Northwest Vermont, don’t go it alone. Contact us today for a personalized market analysis tailored to your specific needs. Let us help you navigate this competitive market with confidence, ensuring that you achieve your real estate goals.

 

Northwest Vermont Market Review By County:

Statistics are for single-family home sales in July 2024.

Chittenden County:

• Active Inventory = 155

• Median Sales Price = $645,000

• Median Days On Market = 9

• Closed Sales = 114

• List Price Received = 102.9%

Franklin County:

• Active Inventory = 109

• Median Sales Price = $415,000

• Median Days On Market = 11

• Closed Sales = 45

• List Price Received = 100.7%

Grand Isle County:

• Active Inventory = 47

• Median Sales Price = $589,000

• Median Days On Market = 15

• Closed Sales = 15

• List Price Received = 100.2%

Welcome to the Vermont Birch House! This charming Island home welcomes you with a covered porch running the length of the house, leading to a west-facing sun deck perfect for enjoying Vermont's stunning sunsets. Nestled on a super private 4-acre lot surrounded by birches and cedars, this property offers 30 feet of deeded lake access. 

This house is currently under contract and not for sale. 

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Join us on Saturday, August 31st, for an engaging panel discussion featuring local experts in real estate, interior design, and financing. Learn how to maximize your property’s worth with insights from Realtor Joy Gess, Interior Designer Britt Mee, and Loan Officer Kelly Deforge.

When: Saturday, August 31st, 10am - 11am
Where: Worthen Library, 28 Community Lane, South Hero, VT

Panel Topics Include:

• Realtor, Joy Gess, will share the latest market trends and share the dynamics of seller vs. buyer markets. Learn how to make your home "show-ready" and why representation matters in today's competitive market.
• Interior Designer, Britt Mee will be sharing inspiring before-and-afters and how design services can transform your home. Get the inside scoop on which home improvements offer the best return on investment.
• Loan Officer, Kelly Deforge will help you navigate the mortgage landscape with ease. Learn about different mortgage products and how rate history impacts your buying and selling decisions in today's market.

Don’t miss this opportunity to gain valuable insights and take the next step toward maximizing your home's value. Reserve your spot today!

Learn more about our panelists:

• Joy Gess, Realtor at Coldwell Banker Islands Realty
• Britt Mee, Owner at Vermont Interior Design
• Kelly Defore, Senior Mortgage Loan Originator at Union Bank