Office News

New Agent Welcome: Susan Arguin

We are pleased to announce that Susan Arguin has joined Coldwell Banker Islands Realty as a licensed sales associate. Welcome Sue! To learn more about her read her bio below.

"Susan Arguin has been listing and selling real estate for over 30 years. She owned and operated her own real estate and property management business in Barre from 1997-2015 while raising her kids. After her three children were grown she worked at William Raveis Real Estate for five years. She was an active member of the Central Vermont Board of Realtors for many years starting as a Commissioner, then Secretary and the President. She also served on the Barre Housing Authority for two years. She moved to South Hero three years ago and now works at Community Bank NA and has become a member of the Development Review Board in town. She is looking forward to putting her 30 years of experience in real estate to use in the Islands."

See Sue's listings here.

Photo of Realtor Susan Arguin

Market Update: May 2020

The Northwestern Vermont Board of Realtors has released the May 2020 real estate market update for Chittenden, Franklin, and Grand Isle Counties. Below is their market report.

“While the effects of COVID-19 in the broader economy continue, real estate activity is beginning to recover across much of the country. According to Freddie Mac, mortgage rates have been below 3.3 percent for more than four weeks and are hovering near all-time lows, spurring strong interest by buyers and lifting showing activity up 4% nationally versus a year ago in the final week of May. 

New Listings decreased 31.2 percent for single-family homes and 12.6 percent for townhouse-condo properties. Pending Sales decreased 4.1 percent for single-family homes but increased 19.5 percent for townhouse-condo properties. Inventory decreased 34.2 percent for single-family homes and 28.4 percent for townhouse-condo properties. 

The Median Sales Price was down 2.3 percent to $315,000 for single-family homes and 0.5 percent to $237,450 for townhouse-condo properties. Days on Market increased 35.5 percent for single-family homes but decreased 21.2 percent for townhouse-condo properties. Months Supply of Inventory decreased 38.6 percent for single-family homes and 32.0 percent for townhouse-condo properties. 

Buyers have been quicker to return to the housing market in force than sellers, who have been showing a bit more reluctance to list their homes than is typical for this time of year. But trends are improving and as states and localities continue to moderate their COVID-19 policies, real estate activity is expected to continue to improve in the coming weeks.”

From this recent activity we remain optimistic about the summer real estate market. In the last 2 weeks we have listed 13 properties, 13 properties are under contract and we have had 8 closings. There is high buyer demand and low inventory making this a sellers market. If you’re thinking about selling your home now is the time! We are here to help you reach your goals. If you have any questions about the current market or want to learn more about listing your property please contact us.

Real Estate Market Update Graph May 2020

June 13, 2020 Market Update

We've been busy since Realtors have been able to return to work. We are seeing high buyer demand and low inventory making this a sellers market. Properties are going under contract within days of going on the market. If you're thinking of selling you home now is the time to list your property! Contact us to get a free consultation of your property with no obligation and to learn more about our marketing strategy.

Graphic With Vermont Real Estate Market Data 

Market Update: April 2020

The Northwestern Vermont Board of Realtors has released the April 2020 real estate market update for Chittenden, Franklin, and Grand Isle Counties. Below is their market report.

“While the stock market recovered significantly in March, the effects of COVID19 to the economy continue to build. In just the last four weeks, more than 20 million people filed initial unemployment claims according to the United States Department of Labor, fueled by stay at home orders and a slowdown of economic activity across the country. Added to the unemployment claims from March, more than 30 million people have become unemployed since COVID-19 has become widespread in the U.S. In the face of these challenging times, real estate activity in April slowed significantly. 

New Listings decreased 48.2 percent for single-family homes and 32.9 percent for townhouse-condo properties. Pending Sales decreased 47.2 percent for single-family homes and 45.7 percent for townhouse-condo properties. Inventory decreased 27.3 percent for single-family homes and 14.8 percent for townhouse-condo properties. 

The Median Sales Price was up 9.3 percent to $320,500 for single-family homes but decreased 4.1 percent to $236,000 for townhouse-condo properties. Days on Market decreased 11.6 percent for single-family homes and 26.3 percent for townhouse-condo properties. Months Supply of Inventory decreased 34.1 percent for single-family homes and 20.8 percent for townhouse-condo properties.

While the effect of COVID-19 continues to vary widely across the country, it is expected that social distancing, higher unemployment, and lower overall economic activity is likely to continue to constrain real estate activity in the near term. At the same time, the industry is adapting to the current environment by conducting business using technologies such as virtual showings and e-signing to help buyers and sellers with their housing needs in the face of these challenges.”

Under Governor Phil Scott’s order Realtors were able to return to work with limitations on April 20, 2020. We were able to meet with clients  and show property but continue to work remotely when we can. With the slow opening of real estate services we saw a surge in activity from buyers and sellers leaving us optimistic that the market will rebound. That being said, we will not know the true impacts of the pandemic on the real estate market without seeing its full projection and how long it will last. We will continue to monitor the market and follow safety guidelines to best serve our clients and community. If you have any questions please contact us.

Infographic Real Estate Market Update April 2020

You Sell, We Donate

Leaving Our Mark In 2020

At the beginning of the year we asked ourselves how Coldwell Banker Islands Realty can leave its mark on the community in 2020 and help those in need. Hunger and malnutrition is an issue in Grand Isle County with 15% of children lacking access to nutritious food. Many families and children rely on school meals to help meet their needs. Some families struggle to pay for schools lunch and are indebted to the school. This is a hardship that no family should bear when it comes to feeding a child. It is important that the school meal program has access to nutritious food and is funded to support the students and families needs. 

Coldwell Banker Islands Realty is proud to be a part of such a close knit community.  To show our support we are donating a portion of our commission to help fight childhood nutrition throughout Grand Isle County Schools. The schools will use this funding to help meet their nutritional needs either by providing fresh, local produce or relieving student lunch debt. We look forward to working with the schools to best meet their individual needs.

If you’re thinking of selling your home this year think of Coldwell Banker Islands Realty and know that we are leaving a positive mark on our community. Call our office for more details. (802)372-5777

 

Info:

Feeding America: Child Food Insecurity In Grand Isle County:

https://map.feedingamerica.org/county/2016/child/vermont/county/grand-isle

Other Programs:

RiseVT - Hunger Free Vermont:

https://risevt.org/2019/02/15/hunger-free-vermont-partnership-grand-isle/

Hunger Free Vermont:

https://www.hungerfreevt.org/

House With Sold Sign In The Yard

 

 

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