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From Lake Champlain Island town spotlights to real estate humor, Coldwell Banker Islands Realty shares a variety of real estate content on social media. We wrapped up our top posts from the past two months in this blog post! Check them out below.
1. Hiking in Vermont: Sunny Hollow Trails
2. Why Would You Buy A Home Without A Realtor
3. Welcome To Alburgh, Vermont
Make sure to follow us on social media to see beautiful Vermont homes, real estate education, and local town insights!
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One of our main marketing channels at Coldwell Banker Islands Realty is social media. Short-form video has taken over social media and we are leveraging this to highlight listings, the area, and more. These videos reach a broader audience, have higher engagement, and lead to more views on the listing page maximizing the listing's exposure. Check out our top-performing videos of 2022 below.
This first video was shared on Instagram to celebrate a recent closing. It highlights a charming farmhouse in Isle La Motte that was very popular among viewers. It reached over 11,000 people and received 307 likes.
This Farmhouse Appreciation video was meant to highlight a listing. This home was extensively renovated and it came out beautifully while maintaining the original character of a Vermont farmhouse. It reached over 10,000 people and received 197 likes.
The last video is another listing video to highlight a feature of the home. This unique home is an outdoor recreation enthusiast's dream with an in-ground pool with a waterslide, recreational trails, a pond, and a rec cabin. The video reached over 7,000 people and received 184 likes.
Make sure to follow us on our social media platforms to see beautiful homes and all other things Vermont real estate related!
Housing affordability continues to be a major roadblock for market participants, with mortgage rates more than double compared to this time last year. Buyers are delaying home purchases in hopes rates will drop, while many sellers are holding off on listing their homes due to weakening buyer demand, unwilling to trade in their current lower rates for significantly higher borrowing costs on their next property. As a result, existing home and pending home sales have continued to slow as we move into winter.
New Listings decreased 28.1 percent for single-family homes and 31.0 percent for townhouse-condo properties. Pending Sales decreased 32.2 percent for single-family homes and 27.9 percent for townhouse-condo properties.
Inventory decreased 0.9 percent for single-family homes and 29.5 percent for townhouse-condo properties. The Median Sales Price was up 5.7 percent to $438,500 for single-family homes and 19.6 percent to $330,000 for townhouse-condo properties. Days on Market decreased 37.1 percent for single-family homes but increased 14.3 percent for townhouse-condo properties. Months Supply of Inventory increased 25.0 percent for single-family homes but increased 28.6 percent for townhouse/condo properties.
With home sales down, nationwide housing inventory was at 3.3 months’ supply heading into November, up from 2.4 months from this time last year, according to the National Association of REALTORS®. Although buyers have more options to choose from, home prices remain high, and soaring borrowing costs have caused monthly payments to increase significantly, with the average homebuyer paying 77% more on their loan per month compared to the same period a year ago, according to Realtor.com.
Considering a move and wondering what your options are in this market? We're here to help. Contact us today.
This beautiful lakefront log cabin is secluded on a private cove on South Hero Island's scenic West Shore Road. The interior features exposed beams and vaulted ceilings. The floor-to-ceiling windows fill the home with buttery natural light.
Watch to see the interior and subscribe to our YouTube Channel to see more Hidden Vermont Homes!
Existing home sales declined nationwide for the eighth consecutive month, falling 1.5% as of last measure, according to the National Association of REALTORS® (NAR), with sales down nearly 24% from the same period last year. Pending home sales also declined, dropping 10.9% month-to-month, exceeding economists’ expectations. Stubbornly high inflation and soaring borrowing costs have eroded buyer purchasing power and have caused the market to cool rapidly this year.
New Listings decreased 9.2 percent for single-family homes and 2.1 percent for townhouse-condo properties. Pending Sales decreased 21.0 percent for single-family homes but increased 1.9 percent for townhouse-condo properties.
Inventory decreased 9.0 percent for single-family homes and 29.2 percent for townhouse-condo properties.The Median Sales Price was up 9.8 percent to $435,000 for single-family homes and 16.3 percent to $330,000 for townhouse-condo properties. Days on Market decreased 6.7 percent for single-family homes and 45.8 percent for townhouse condo properties. Months Supply of Inventory increased 6.7 percent for single-family homes but increased 25.0 percent for townhouse-condo properties.
The US housing market is undergoing a major shift, and affordability continues to be an obstacle for buyers and sellers. Mortgage rates have doubled since March, and home prices remain elevated due to a limited supply of homes, although price gains are slowing at a quickening pace. As a result, many homeowners are waiting until market conditions improve to sell their home, while other sellers are increasingly cutting prices and offering concessions to attract a greater number of buyers.
Do you have questions about the current market? We're here to help. Contact us today.
