In 2021 we had the pleasure of representing some breathtaking homes in Vermont. Take a look back at some highlights from this past year. We thank our clients for trusting us to represent them during the sale of their home.
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The U.S. housing market remains robust, with strong activity reported across both rental and residential housing fronts. Single-family rent prices are increasing rapidly, as demand for single-family housing and inventory constraints forces some buyers to rent, increasing competition and pushing rents up across the nation. Meanwhile, sales of new construction single-family homes recently hit a six-month high, rising 14% to a seasonally adjusted rate of 800,000, according to the latest data from the U.S. Department of Housing and Urban Development.
New Listings decreased 20.6 percent for single-family homes and 19.0 percent for townhouse-condo properties. Pending Sales decreased 1.9 percent for single-family homes and 17.5 percent for townhouse-condo properties. Inventory decreased 43.3 percent for single-family homes and 43.2 percent for townhouse-condo properties.
The Median Sales Price was up 16.5 percent to $396,000 for single-family homes and 2.7 percent to $285,000 for townhouse-condo properties. Days on Market decreased 25.0 percent for single-family homes and 31.4 percent for townhouse-condo properties. Months Supply of Inventory decreased 43.5 percent for single-family homes and 36.4 percent for townhouse-condo properties.
As temperatures drop, existing home sales continue to be plentiful, buoyed by strong demand, low interest rates, and a slight uptick in new listings in recent months, according to the National Association of REALTORS®. With interest rates inching upward, and experts expecting further rate increases on the horizon, motivated buyers are hoping to lock in their home purchases to take advantage of what are still historically low rates.
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The fall has proven to be a busy time at Coldwell Banker Islands Realty! We celebrated an anniversary, welcomed some new faces, and attended the CB annual conference. In October, we celebrated our 25th anniversary with Coldwell Banker!
We feel fortunate to be able to serve the real estate needs of Northwestern Vermont and owe a big thank you to all of our clients who made this possible. We appreciate the recognition and are proud to be a part of the Coldwell Banker family. Being a part of Coldwell Banker has elevated our business and allowed us to grow through brand recognition, new tools, tech and learning opportunities to provide the best possible service to our community.
The Coldwell Banker 2021 conference, Gen Blue Experience, took place at Radio City Music Hall in early October. Joy Gess represented CBIR in New York City while the rest of the office enjoyed many impactful learning sessions, workshops, and inspirational speakers virtually from our office together at 38 Community Lane! Gen Blue is just one example of some of the serious advantages from affiliating with one of the industry’s largest names.
Over the past couple of months we welcomed some new faces to the company. Please join us in welcoming licensed sales associates Paul Habersang, Susan Kaminski, Deborah Unica, and Sam Rossetti-Thiels as well as a training & education coordinator Sue Arguin to Coldwell Banker Islands Realty!
The CBIR team took steps to help families who are struggling with hunger. This was the 8th Champlain Islands CROP Hunger Walk. All of the contributions went to help to provide more meals for the growing number of people in our community who need them, as well as greater food security in communities around the world. In total, $3,534 dollars were raised and it was a great event that we look forward to participating in again next October!
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November's Hidden Vermont home is a beautifully updated 4 bedroom Lakefront Cottage secluded on gradual west facing frontage on Savage Point. Located right across from the cut to the Broad lake and opposite North Hero Marina this Island retreat is sited directly on Lake Champlain. The interior has been recently updated and features vaulted ceilings, oak floors, lots of bead board, pine, and shiplap, giving it that Lakefront charm and feel without sacrificing modern conveniences. Enjoy the well appointed kitchen with quartz countertops, farmhouse apron style sink, Kraftmaid cabinets, stainless french door fridge, and a Fischer and Paykel Commercial range. Get Island Insights in your inbox! Subscribe today.
