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.

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

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!

25 Years 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 Gen Blue Experience

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. 

 

New Agent Welcome

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! 

Champlain Islands CROP Hunger Walk

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.

As a real estate agent you are often on the go, listening to podcasts are a great way to absorb industry related information while on the move. Here are our top 5 favorite podcasts that every realtor should be listening to right now.    

1. After The License - Helping Real Estate Agents

These episodes are around 3-10 minutes and are very helpful for new real estate agents. They have quick tips such as marketing, the importance of consistency, lead generation and things of that nature. 

2. Gary Vee

Gary Vee is very entertaining to listen to and has valuable insights and tips on marketing and branding for your business. He is a strong proponent of consistency over perfection and being authentic. 

3. BiggerPockets Real Estate

This podcast is very good if you are seeking investment advice. If you are interested in purchasing multi families, flipping houses, or just real estate investment guidance in general try listening to these episodes. 

4. Tom Ferry

There are valuable tips for agents all over the spectrum in these episodes. Whether you are a seasoned Realtor, or you are just starting out, everyone will be able to take something from this podcast

5. Over Ask

Over Ask is a podcast by the Broke Agent. This podcast leans towards entertainment more heavily than those mentioned above however the interview style episodes are informative and interesting to hear opinions from a mix of real estate professionals. 

 

Whether you're in the office or in the car driving to a showing consider listening to an industry related podcast to pick up some valuable information. Want to learn more about what it takes to become a Realtor? Visit our website to learn about a career at Coldwell Banker Islands Realty. 

 

 As the cold weather sets in, you should take several steps to prepare your home correctly. Doing routine home maintenance can help you avoid costly repairs as well as prepare and budget for updates that might be needed. Save yourself the headache in the spring, and take the steps below to winterize your home.

1. Seal cracks around windows and doors.

This will help prevent drafts and keep the heat shut inside.

2. Clean your gutters.

Cleaning your gutters every fall has numerous benefits. This task prevents water damage and rot, a place for pests to nest, plus it helps the overall lifespan of your roof and foundation. 

3. Inspect your roof.

Make sure to examine your roof. Look for any damage such as missing shingles or cracks and get them repaired before the snow falls. If you ignore these issues, the harsh winter months could exacerbate what was once minor damage. 

4. Trim trees and bushes.

Cut back any overgrown bushes or large unsteady branches that could break off near the roof or home. 

5. Test smoke and carbon monoxide detectors. 

To make sure these detectors are working properly, take the time to check the function and replace the batteries if need be.

6. Have your chimney or fireplace serviced.

Before the cool weather arrives, it is best to have your chimney and fireplace cleaned before running. Not only is this good fire safety practice, it will clear out any critters that may have found their way in.

7. Remove window screens and screen doors.

This will help the longevity of your screens. Also, consider installing storm windows and doors. 

8. Winterize summer power equipment.

Store away the lawn mower and bring out your snowblower. While you are doing this, test out your winter equipment to make sure there are no issues before the first snowfall. 

9. Cover or store away outdoor furniture.

You most likely will not be using your hammock so, to protect your outdoor furniture from the winter elements we recommend covering them or storing them away. 

10. Shut off faucets and drain hoses or sprinklers.

If there is any access water in the faucet or hose it will freeze and possibly burst causing more damage. Ensure that the water is shut off and put away any hoses to prevent this.

For more home maintenance tips or advice on what to do before you list this fall, get in touch with a Coldwell Banker Islands Realty Agent.