As summer draws to a close, the real estate market in Northwest Vermont continues to evolve. If you're considering buying or selling a home, understanding the latest market trends is essential. Let's take a closer look at the single-family home sales data for August 2024 and what these numbers mean for you. Data is for sales in Grand Isle, Chittenden and Franklin County. 

What These Numbers Mean for Buyers and Sellers

Median Sales Price

The median sales price in August 2024 dropped slightly to $519,900, down 3.7% from July. However, it's important to note that home values are still significantly higher compared to this time last year, with a 7.3% year-over-year increase.

For sellers, this slight dip in price might suggest a minor market cooling, but it doesn’t mean home values are declining long-term. In fact, compared to last year, prices remain solidly up. If you’re considering selling, this is still an excellent time to list your home, especially as buyers continue to show strong interest.

For buyers, the decrease in price could be an opportunity to find more affordable options but keep in mind that values are still up from last year. If you’ve been waiting for the right moment, this might be the time to make a move before prices increase again.

Closed Sales

Closed sales increased by 6.3% from the previous month, with 185 homes sold in August. Year-over-year, this marks a 10.1% increase in the number of homes sold compared to August 2023.

For sellers, this increase in closed sales means demand is still high, and properties are moving. If your home is priced well and presented effectively, you’re likely to find serious buyers.

For buyers, this continued activity indicates that while the market is competitive, homes are being sold at a steady pace, and the right property for you could be just around the corner.

Median Days on Market

The median days on market remained steady at 10 days, a slight 9.1% decrease from July but a notable 25% increase from August 2023. This metric shows that homes are still selling quickly, but they’re staying on the market slightly longer than last year.

For sellers, this may mean you’ll have a little more time to review offers, but don’t expect your home to sit on the market for long if it’s priced right.

For buyers, the increase in days on market from last year could be a sign that you have more breathing room to make decisions, but acting promptly on well-priced properties is still advised.

List Price Received

Sellers are still receiving 101% of their list price, which is down slightly from July’s 102.1% but remains an excellent figure. This means that, on average, homes are still selling for more than the asking price.

For sellers, this slight dip isn’t a cause for concern; the fact that homes are still selling over list price shows that demand remains strong. However, setting a competitive list price is essential to continue attracting motivated buyers.

For buyers, the dip in the list price received may indicate a slight shift toward a more balanced market, giving you more negotiation power than in previous months.

New Listings

The number of new listings increased by 2% from July to 209, although this is a 7.5% decrease compared to August 2023.

For sellers, this slight increase in new listings could mean more competition in the market, but with strong demand and inventory levels still relatively low, your home can still stand out if it’s priced correctly.

For buyers, this uptick in listings gives you more choices, but keep in mind that the year-over-year decrease indicates that inventory is still relatively tight compared to last summer.

Active Inventory

Active inventory climbed to 329 homes, marking a 4.1% increase from July and a significant 32.7% jump from August 2023. This surge in inventory is one of the most notable trends in the current market.

For sellers, increased inventory means more competition, so making your home shine is more important than ever. Staging, pricing, and marketing will play critical roles in helping your property stand out in a growing market.

For buyers, this increased inventory is great news. You’ll have more options to choose from, and with a growing supply of homes, you might find it easier to negotiate or avoid bidding wars.

Months Supply of Inventory

The months supply of inventory is at 1.8 months, a slight 2.1% decrease from July but a 20.5% increase from August 2023. This metric tells us how long it would take to sell all the current listings at the current sales pace.

A supply of fewer than six months generally indicates a seller’s market, and while we’re still in that territory, the increase in inventory shows that the market is slowly balancing out.

For sellers, this means there’s still time to take advantage of strong demand, but with more homes entering the market, competition is rising.

For buyers, the increase in supply might give you a bit more leverage and reduce the likelihood of extreme bidding wars, though it’s still important to act decisively on homes you’re interested in.

 

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.

 

 

September’s hidden home is a modern retreat on Lake Champlain, featuring 105 feet of lakefront on Keeler Bay. This spacious residence offers over 3,000 SqFt of living space, stunning lake views from nearly every room, and an open living area with 9-foot ceilings.  

This home is currently for sale. Learn More

For generations, Vermont has been a hub of apple production, making fall apple picking an essential activity for both residents and visitors alike. Many of the state’s beloved orchards have been family-owned for decades, preserving a rich tradition of apple growing. We’re excited to highlight some of the most cherished orchards in northwest Vermont, each offering its own unique charm and experience. Discover more about these local treasures below!

Allenholm Farm | South Hero, VT
Located on South Street in South Hero, Vermont, Allenholm Farm has been a cherished part of the community since 1870. The Allen family has managed the farm for seven generations, making it the oldest commercial apple orchard still operating in Vermont, according to the South Hero Land Trust, Visitors can enjoy pick-your-own apples, delicious desserts like Papa Ray’s Pies, and the best maple creemees around.

Adams Apple Orchard | Williston, VT
Adams Apple Orchard in Williston, Vermont, is known for its extensive selection of apple varieties and its friendly, down-to-earth vibe. The orchard offers pick-your-own apples as well as a farm market filled with fresh cider, doughnuts, baked goods, and local produce. Adams Apple Orchard is a beloved spot for both locals and visitors, offering a quintessential Vermont apple-picking experience.

Chapin Orchard | Essex Junction, VT
Located in Essex Junction, Vermont, Chapin Orchard is a family-owned orchard that has been a community favorite for decades. The orchard offers pick-your-own apples, along with freshly pressed apple cider, cider doughnuts, and other seasonal treats. With its scenic location and friendly atmosphere, Chapin Orchard is a great place to enjoy the beauty of Vermont in the fall.

Hackett's Orchard | South Hero, VT
Family-owned since 1967, Hackett's Orchard  in South Hero spans 50 acres of farmland and offers a wide range of apple varieties—47 in total! In September, you can pick your own apples, or simply stop by the farm market for fresh cider doughnuts, apple cider, cider slush, and apple crisp. Be sure to visit for pumpkins and other sweet treats, too.

Hall’s Orchard | Isle La Motte, VT
Hall’s Orchard is a historic gem located in Isle La Motte, Vermont. The Hall family has owned the property since the late 1700s and the orchard since 1828. The farmhouse, made from stone quarried on the island, is a testament to the region’s rich history, featuring ancient coral reef fossils. Allen Hall, the current owner-operator, grows apples and pears, offering pick-your-own options, fresh cider, pears, maple syrup, pumpkins, and honey.

Shelburne Orchards | Shelburne, VT
Shelburne Orchards, located in the picturesque town of Shelburne, Vermont, is a must-visit for apple enthusiasts. The orchard is renowned for its commitment to sustainable farming practices and its breathtaking views of Lake Champlain. In addition to pick-your-own apples, Shelburne Orchards offers fresh-pressed apple cider, cider doughnuts, and a variety of apple products. The orchard’s distillery even produces an apple brandy that’s worth a taste!

Yates Family Orchard | Hinesburg, VT
Nestled in the rolling hills of Hinesburg, Vermont, Yates Family Orchard is a family-friendly destination with a welcoming atmosphere. The orchard offers a variety of apple types, all grown with care. Visitors can enjoy pick-your-own apples, and the orchard’s farm stand is stocked with fresh produce, local honey, and homemade preserves. It’s a perfect spot for a peaceful fall outing with loved ones.

From the scenic Lake Champlain Islands to the picturesque hills of Chittenden County, northwest Vermont’s apple orchards are a perfect blend of history, community, and farm-fresh apples. Whether you’re a local or a visitor, these orchards provide the perfect setting for enjoying the fall season in Vermont.

At Coldwell Banker Islands Realty, our Instagram account, @cbislandsrealty, has been buzzing with activity and has now surpassed 10,000 followers! We’re excited to share some recent successes with you, including several viral real estate videos. In case you missed them, here’s a highlight of three standout posts that captured the attention of millions of viewers.

1. Exploring Vermont: The Island Line Trail
The Island Line Trail is one of Vermont’s most picturesque routes, stretching across the Lake Champlain causeway and offering breathtaking views of the water and surrounding landscape. Our video showcasing this scenic trail resonated with nature lovers and outdoor enthusiasts, quickly gaining traction and becoming one of our most-viewed posts with over 9.5 million views. The video’s success underscores the allure of Vermont’s natural beauty, which plays a significant role in the lifestyle we showcase to potential buyers attracted to the area. 

 

 

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A post shared by Coldwell Banker Islands Realty (@cbislandsrealty)

2. For Sale: Lakefront 1870 Farmhouse in Vermont 
This one-of-a-kind waterfront farmhouse tour quickly became a sensation on Instagram, garnering 300,000 views. The video beautifully captured the essence of classic Vermont lakefront living, offering buyers an immersive glimpse into the charm and character of this unique property. The viral success of this post underscores the power of social media in showcasing Vermont’s distinctive homes to a wide audience. It also highlights our ability to generate significant interest in properties through strategic digital marketing.
 

 

 

 

 

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A post shared by Coldwell Banker Islands Realty (@cbislandsrealty)

3. For Sale: Modern Lakefront Home in Vermont
Our video tour of this exquisite modern lakefront property in North Hero, Vermont, captivated viewers and garnered over 299,000 views. This custom-designed home's stunning visuals attracted potential buyers and created significant buzz. This video exemplifies how our social media presence can elevate the visibility of unique properties, attracting a larger and more engaged audience, and helping home sellers make a lasting impression.

 

 

 

 

 

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A post shared by Coldwell Banker Islands Realty (@cbislandsrealty)

Why This Matters for Your Home Sale
Our recent social media success is more than just a milestone—it’s a testament to the effectiveness of our digital marketing strategies. When you list your property with Coldwell Banker Islands Realty, you’re not just getting the traditional real estate experience; you’re tapping into a powerful online platform that reaches thousands of potential buyers. Our viral videos demonstrate our ability to create engaging content that resonates with viewers and generates significant interest in the properties we represent.

By leveraging our strong social media presence, we’re able to offer our sellers unparalleled exposure, ensuring your home is seen by as many potential buyers as possible. In today’s digital age, a robust online presence is crucial for a successful sale, and at Coldwell Banker Islands Realty, we’re committed to using every tool at our disposal to achieve the best results for you.

Stay Connected and See What’s Next  
If you’re not already following along, now’s the time to join our growing community. Follow us @cbislandsrealty for your go-to source for the latest property listings, market insights, and glimpses into the beautiful lifestyle that Vermont has to offer. Stay tuned for more exciting content as we continue to showcase the best of Vermont real estate.

 

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.

Event Information

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.

Event Information

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!

Event Information

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.

Event Information

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. 

Event Information

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. 

Event Information

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!