Office News

Coldwell Banker Islands Realty Gets A New Home

Coldwell Banker Islands Realty is excited to announce that after 26 years at 2 Ferry Road we have moved into our new office space at 38 Community Lane in South Hero, Vermont. This state of the art building was designed by Nate Hayward of Hayward Design Build and is located in between Worthen Library, Wally’s Place Bagels, and the Community Health Center. Coldwell Banker Islands Realty has welcomed several new agents in the past 2 years and simply outgrew our old space. We are sharing this office with 4 other local businesses that include CIDER, Bauer Gravel Farnham Attorneys at Law, Let’s Pretend Catering, and Hayward Design Build. We are excited to be in this communal space and the synergy it will bring to all. 

Our office is currently open and following social distancing and safety guidelines. If you would like to make an appointment please contact your Realtor or call our office, (802) 372-5777, to set up an appointment. We hope to have a celebration in our new space at a later date when we can gather safely.

Coldwell Banker Islands Realty Exterior of Office

Coldwell Banker Islands Realty Interior Office

Coldwell Banker Islands Realty Interior Office

Coldwell Banker Islands Realty Interior Office

 

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Market Update: June 2020

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

While much of the country was working on a phased reopening of the economy in June, real estate activity continued to strengthen as well. Nationally, June showing activity as tracked by ShowingTime was up notably from the COVID-19 depressed levels in recent months but was also up from June 2019, reflecting pent-up demand by prospective home buyers.

New Listings decreased 0.3 percent for single-family homes and 5.6 percent for townhouse-condo properties. Pending Sales increased 25.4 percent for single family homes and 25.0 percent for townhouse-condo properties. Inventory decreased 36.0 percent for single-family homes and 36.5 percent for townhouse-condo properties.

The Median Sales Price was down 1.7 percent to $325,000 for single-family homes but increased 5.1 percent to $264,000 for townhouse-condo properties. Days on Market decreased 10.1 percent for single-family homes and 28.4 percent for townhouse-condo properties. Months Supply of Inventory decreased 40.0 percent for single-family homes and 42.3 percent for townhouse-condo properties.

While buyer activity continues to be robust, seller activity continues to be a bit softer, with fewer homes being listed for sale than a year ago. Many housing experts believe sellers remain reluctant to list their homes due to continued concerns over COVID-19, which was beginning to see a resurgence in June. Until sellers regain confidence, housing inventory will continue to be constrained during what is expected to be an active summer selling season.

From this recent activity we remain optimistic about the summer real estate market. In the last 2 weeks we have listed 11 properties, 13 properties are under contract and we have had 10 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.

Infographic Real Estate Market Update June 2020

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 

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