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.

Starting Monday, April 20, we are back open and can provide real estate services in a responsible safe manner per Governor Scott's phased return-to-work plan. Read the announcement and guidelines from Vermont Association of Realtors here.

Face-to-face meetings with no more than 2 people present (the client and the real estate professional) are allowed while following the Vermont Department of Health and CDC guidelines such as social distancing, wearing face protection, and proper hygienic standards. Showing property and listing consultations are allowed.

Your safety is our number one priority. Remote work will continue when possible to ensure the health and safety of our community members. It's a new way of doing business but we are happy to get back to work to provide real estate services to those in our community who need them. 

Be safe and healthy so we can protect our loved ones, our neighbors, ourselves, first responder's and health care workers in our community. If you have any questions please Contact Us.

The Northwestern Vermont Board of Realtors has released the February 2020 real estate market update for Chittenden, Franklin, and Grand Isle Counties. 

As February comes to an end we continue to monitor the impact of COVID-19 on the real estate market. It is hard to predict/tell at this time the true impact it will have on our world. With the stock market decline bringing low interest rates it brought good news to buyers and homeowners interested in refinancing. 

Overall buyer demand continues to be strong with Pending Sales increasing by 30.7% and Closed Sales increased 3.4% for Single Family homes and 63% for Townhouse/condos. Homes for sale have decreased 26.6%. 

The recently released January Showing Time Showing Index® saw a 20.2% year-over-year increase in showing traffic nationwide. With showings comes home sales. It will be important for us to monitor the effects COVID-19 will have on the overall economy. If you have any questions or concerns about the real estate market at this time please contact us.

We are pleased to announce that Alex LaVigne has joined Coldwell Banker Islands Realty as a sales associate and licensed Realtor. Learn more about Alex below or visit his website. 

"Alex LaVigne has spent his entire life living in beautiful Vermont. His familiarity with the area
and many local connections help him provide his clients with extensive information and superior
customer service. Being from Vermont, Alex’s love for the area and all it has to offer is apparent.
Currently, Alex lives in Colchester, with his wife, two sons, and 100 pound fur-baby. He enjoys
boating, snowboarding, hiking, and coaching his boys tee ball team.
Real estate has run in his family for many years, from a young age Alex remembers admiring
and helping his grandfather who owned many rental properties. Alex purchased his first rental
property at the age of 21 in Burlington, and since has remodeled houses and more recently
went through the homebuilding process for his family's current home.
Before making real estate his full time career Alex has spent more than the last decade in the
retail industry, while owning and maintaining his rental properties. His background in customer
service paired with ability to see the potential in properties and construction knowledge are real
assets to his clients.
Alex is a real people person and will work to get the best end result for you. Whether buying or
selling, your first home or tenth, Alex will listen to make sure your needs are met and help make
the process as smooth as possible."

The Northwestern Vermont Board of Realtors has released the January 2020 real estate market update for Chittenden, Franklin, and Grand Isle Counties. The year has started off with continued low interest rates, low unemployment, and rising rents nationwide. These factors will encourage buyers. Inventory continues to be low in Northwest Vermont building a sense of urgency for homebuyers. If you’re interested in learning more about the market in your specific area or have any questions please Contact Us.

Thinking of selling and want to know what your home may be worth? Fill out our What’s My Home Worth form and a Realtor will complete an evaluation of your home at no cost or obligation to you.