The Northwestern Vermont Board of REALTORS® (NVBR) has released its market statistics for June 2021. The information is derived from data contained in the New England Real Estate Network and covers Chittenden, Franklin and Grand Isle Counties.

School’s out, and as vaccination rates rise and America enters a new normal, the U.S. housing market continues along at a frenzied pace, with low interest rates and limited inventory fueling record high sales prices. May saw the median existing-home sales price exceed $350,000, a 24% increase and the largest year-over-year increase since 1999, according to the National Association of REALTORS®. Eager buyers are making multiple offers, some for well over asking price, while others are making offers on homes sight unseen.

New Listings decreased 3.3 percent for single-family homes but increased 27.1 percent for townhouse-condo properties. Pending Sales decreased 4.6 percent for single-family homes and 8.9 percent for townhouse-condo properties. Inventory decreased 43.9 percent for single-family homes and 34.0 percent for townhouse-condo properties.

The Median Sales Price was up 18.5 percent to $385,000 for single-family homes and 10.3 percent to $290,000 for townhouse-condo properties. Days on Market decreased 61.3 percent for single-family homes and 34.8 percent for townhouse-condo properties. Months Supply of Inventory decreased 51.7 percent for single-family homes and 41.2 percent for townhouse-condo properties.

The increase in sales prices comes with a slight decline in existing home sales nationwide, as homebuyers struggle with declining affordability amid a lack of inventory, forcing some buyers to simply wait it out in hopes of more inventory and less competition. Meanwhile, home builders are trying to meet the increased market demand, with housing starts up 3.6% in May from April, according to the Commerce Department. As we ease into new routines and look forward to a post-pandemic future, one thing remains certain: America desperately needs more homes.

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

 

 

Beautiful 4 bedroom 5 bath Contemporary built in 2012. This home is secluded on 3.2 private acres in the Mallets Bay area where you can moor your boat. The extensive professional landscaping and gardens were designed by Vermont Stone. Enjoy the tranquil sounds of waterfalls leading to a Koi Pond and patio. The gardens also include mature specimen trees and perennial gardens to enjoy through the year. 

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It is hard to believe that July marks one year since we moved into our new office at 38 Community Lane! Since the big move we have enjoyed the state of the art building designed by Nate Hayward of Hayward Design Build as well as the communal space and the synergy it brings. 

We are proud to announce that our success in 2020 has titled Coldwell Banker Islands Realty as a Bronze Level Premier Office. This designation is given to the top 32% of all Coldwell Banker offices in North America. Thank you to our community and clients for the continued support. Join us in also congratulating Co-Owner, Franz Rosenberger , who was named the 2020 Number One Coldwell Banker Sales Associate in the state of Vermont! Congratulations, Franz, on this outstanding achievement from all of us at Coldwell Banker Islands Realty.

The summer selling season has started off with a bang! So far in 2021, Coldwell Banker Islands Realty had 47 closings, listed 42 properties, has 19 active listings and 20 listings under contract.* While Grand Isle County is our home base, we have broken into new markets and are selling more homes than ever throughout Northwestern Vermont. The historically low inventory of homes for sale makes this a great time for homeowners to take advantage of one of the hottest real estate markets we’ve ever seen! 

In 2020, we transacted over $43.5 million of real estate sales in Grand Isle County! Our company’s success is proven in the numbers and we are dominating the lakefront and second home market in Grand Isle County. From 2017-2020, we have seen a 27% average annual growth rate. Our systems drive results and we continue to innovate ways to uniquely market homes.