With Autumn’s arrival, now’s the perfect time to get your home ready for winter. Completing a few key tasks can save you from expensive repairs and ensure your home stays cozy and efficient through the colder months. Use this checklist to winterize your home and protect your investment:

1. Seal Cracks Around Windows and Doors
Prevent drafts and save on heating by sealing any gaps around windows and doors. Use caulking or weatherstripping to keep the cold air out and the warmth in, improving your home’s energy efficiency and comfort.

2. Clean Your Gutters
Falling leaves can clog your gutters, leading to water damage, pests, and a shortened roof lifespan. Clean them out to prevent these issues and ensure water flows away from your home properly.

3. Inspect Your Roof
Check for missing shingles, cracks, or other damage before snow arrives. Addressing minor roof issues now can prevent major problems later, such as leaks or structural damage when winter weather hits.

4. Trim Trees and Bushes
Overgrown branches near your home can become hazards in winter storms. Trim back trees and bushes to prevent limbs from falling on your roof or causing other damage during heavy snowfall or strong winds.

5. Test Smoke and Carbon Monoxide Detectors
Cold weather often means more time spent indoors, with heaters and fireplaces in use. Ensure your smoke and carbon monoxide detectors are working by testing them and replacing batteries as needed for safety.

6. Service Your Chimney and Fireplace
Before lighting the first fire of the season, have your chimney and fireplace inspected and cleaned. This reduces the risk of fire hazards and ensures your fireplace is ready for cozy winter nights.

7. Remove Window Screens and Install Storm Windows
Take down window screens to protect them from winter weather. Consider installing storm windows or doors to provide extra insulation and keep your home warmer during cold months.

8. Winterize Power Equipment
Store away summer tools like lawnmowers and bring out snow removal equipment. Test your snowblower and other winter gear to ensure everything is in working order before the first snowfall.

9. Cover Outdoor Furniture
Protect outdoor furniture from the harsh winter elements by covering or storing it away. This helps extend the life of your patio furniture, grills, and outdoor accessories.

10. Shut Off Outdoor Faucets and Drain Hoses
Avoid frozen pipes by shutting off outdoor faucets and draining hoses or sprinkler systems. Water left inside can freeze, expand, and cause costly damage, so be sure to winterize these systems properly.

For more expert home maintenance tips or personalized advice on getting your home market-ready this fall, reach out to a Coldwell Banker Islands Realty agent today. Let us help you keep your home in top shape—whether you’re staying for the season or preparing to sell!
 

As summer draws to a close, the real estate market in Northwest Vermont continues to evolve. If you're considering buying or selling a home, understanding the latest market trends is essential. Let's take a closer look at the single-family home sales data for August 2024 and what these numbers mean for you. Data is for sales in Grand Isle, Chittenden and Franklin County. 

What These Numbers Mean for Buyers and Sellers

Median Sales Price

The median sales price in August 2024 dropped slightly to $519,900, down 3.7% from July. However, it's important to note that home values are still significantly higher compared to this time last year, with a 7.3% year-over-year increase.

For sellers, this slight dip in price might suggest a minor market cooling, but it doesn’t mean home values are declining long-term. In fact, compared to last year, prices remain solidly up. If you’re considering selling, this is still an excellent time to list your home, especially as buyers continue to show strong interest.

For buyers, the decrease in price could be an opportunity to find more affordable options but keep in mind that values are still up from last year. If you’ve been waiting for the right moment, this might be the time to make a move before prices increase again.

Closed Sales

Closed sales increased by 6.3% from the previous month, with 185 homes sold in August. Year-over-year, this marks a 10.1% increase in the number of homes sold compared to August 2023.

For sellers, this increase in closed sales means demand is still high, and properties are moving. If your home is priced well and presented effectively, you’re likely to find serious buyers.

For buyers, this continued activity indicates that while the market is competitive, homes are being sold at a steady pace, and the right property for you could be just around the corner.

Median Days on Market

The median days on market remained steady at 10 days, a slight 9.1% decrease from July but a notable 25% increase from August 2023. This metric shows that homes are still selling quickly, but they’re staying on the market slightly longer than last year.

For sellers, this may mean you’ll have a little more time to review offers, but don’t expect your home to sit on the market for long if it’s priced right.

For buyers, the increase in days on market from last year could be a sign that you have more breathing room to make decisions, but acting promptly on well-priced properties is still advised.

List Price Received

Sellers are still receiving 101% of their list price, which is down slightly from July’s 102.1% but remains an excellent figure. This means that, on average, homes are still selling for more than the asking price.

For sellers, this slight dip isn’t a cause for concern; the fact that homes are still selling over list price shows that demand remains strong. However, setting a competitive list price is essential to continue attracting motivated buyers.

For buyers, the dip in the list price received may indicate a slight shift toward a more balanced market, giving you more negotiation power than in previous months.

New Listings

The number of new listings increased by 2% from July to 209, although this is a 7.5% decrease compared to August 2023.

For sellers, this slight increase in new listings could mean more competition in the market, but with strong demand and inventory levels still relatively low, your home can still stand out if it’s priced correctly.

For buyers, this uptick in listings gives you more choices, but keep in mind that the year-over-year decrease indicates that inventory is still relatively tight compared to last summer.

Active Inventory

Active inventory climbed to 329 homes, marking a 4.1% increase from July and a significant 32.7% jump from August 2023. This surge in inventory is one of the most notable trends in the current market.

For sellers, increased inventory means more competition, so making your home shine is more important than ever. Staging, pricing, and marketing will play critical roles in helping your property stand out in a growing market.

For buyers, this increased inventory is great news. You’ll have more options to choose from, and with a growing supply of homes, you might find it easier to negotiate or avoid bidding wars.

Months Supply of Inventory

The months supply of inventory is at 1.8 months, a slight 2.1% decrease from July but a 20.5% increase from August 2023. This metric tells us how long it would take to sell all the current listings at the current sales pace.

A supply of fewer than six months generally indicates a seller’s market, and while we’re still in that territory, the increase in inventory shows that the market is slowly balancing out.

For sellers, this means there’s still time to take advantage of strong demand, but with more homes entering the market, competition is rising.

For buyers, the increase in supply might give you a bit more leverage and reduce the likelihood of extreme bidding wars, though it’s still important to act decisively on homes you’re interested in.

 

Why a Market Analysis is Essential

Understanding these market trends is crucial whether you’re buying or selling in Northwest Vermont. A personalized market analysis can provide deeper insights tailored to your specific area of interest, helping you make informed decisions. This analysis can reveal how your property compares to others on the market, what you might expect to pay as a buyer, or what price you should set as a seller.

Partnering with a Local Real Estate Expert

Navigating the Vermont real estate market can be challenging, especially with the competitive conditions we’re seeing this summer. By partnering with a local real estate expert, you gain access to their extensive knowledge of the market, their understanding of area trends, and their ability to negotiate on your behalf. Whether you’re looking to buy your dream home or sell your property for the best possible price, having a trusted professional by your side can make all the difference.

Ready to Take the Next Step?

If you’re considering buying or selling a home in Northwest Vermont, don’t go it alone. Contact us today for a personalized market analysis tailored to your specific needs. Let us help you navigate this competitive market with confidence, ensuring that you achieve your real estate goals.

 

 

The summer real estate season is in full swing here in Northwest Vermont, and July 2024 has brought some noteworthy changes to the market. Whether you’re a potential buyer or seller, understanding these trends is key to making informed decisions. Let’s dive into the latest data on single-family home sales in our region and what it means for you. Data is for single-family home sales in Grand Isle, Chittenden, and Franklin Counties. 

What These Numbers Mean for Buyers and Sellers

• Median Sales Price

The median sales price has climbed to $540,100, reflecting a 2.9% increase from the previous month and a significant 12.5% rise from last year. For sellers, this continued growth in home values means that the market remains strong, offering an excellent opportunity to capitalize on your investment. For buyers, while the rising prices might seem daunting, it’s a sign of a robust market where your investment is likely to appreciate over time.

• Closed Sales

With 174 closed sales in July, the market has seen a 10.1% increase from June and a 10.8% increase from July 2023. This uptick in sales activity indicates that buyers are still actively purchasing homes, even as prices rise. For sellers, this is a good indicator that demand remains high, making it a favorable time to list your property. Buyers, on the other hand, should be prepared to act quickly as competition remains strong.

• Median Days On Market

The median days on market have increased to 10 days, which is a 66.7% jump from the previous month and a 42.9% increase from last year. This suggests that homes are taking a bit longer to sell compared to earlier in the year. For sellers, this could mean that pricing your home competitively and ensuring it’s in top condition is more important than ever. Buyers might find this increase in days on market to their advantage, as it could signal slightly less urgency and offer more time to make decisions.

• List Price Received

Sellers received an average of 102.1% of their list price, which is down slightly by 0.7% from June and 1.5% from July 2023. While still above 100%, this slight decrease suggests that the market may be balancing out, with fewer homes selling well above asking price. For sellers, it’s crucial to set a realistic price to attract serious buyers. Buyers may find this trend encouraging, as it could indicate more negotiating power.

• New Listings

The number of new listings has dropped to 204, an 18.4% decrease from June but a 13.3% increase from July 2023. This decrease from the previous month could lead to less competition among sellers, but the year-over-year increase shows that more homeowners are deciding to sell. For sellers, less competition in the short term might help your property stand out, while buyers should still see a healthy number of options compared to last year.

• Active Inventory

Active inventory has risen to 311 homes, marking a 2.3% increase from the previous month and a substantial 42% increase from July 2023. This growing inventory is good news for buyers, offering more choices and potentially easing some of the competition for available homes. Sellers should be aware of the increased competition and consider strategies to make their listings more attractive, such as competitive pricing or home staging.

• Months Supply of Inventory

The months supply of inventory has decreased slightly to 1.8 months, a 7.1% drop from June 2024 but still a significant 28.1% increase from July 2023. This metric indicates how long it would take to sell all the current listings at the current sales pace. Despite the small monthly decrease, the year-over-year increase suggests the market is slowly moving toward a more balanced state. For buyers, this could mean less pressure to make hasty decisions, while sellers should remain mindful of the growing inventory when setting expectations.

 

Why a Market Analysis is Essential

Understanding these market trends is crucial whether you’re buying or selling in Northwest Vermont. A personalized market analysis can provide deeper insights tailored to your specific area of interest, helping you make informed decisions. This analysis can reveal how your property compares to others on the market, what you might expect to pay as a buyer, or what price you should set as a seller.

Partnering with a Local Real Estate Expert

Navigating the Vermont real estate market can be challenging, especially with the competitive conditions we’re seeing this summer. By partnering with a local real estate expert, you gain access to their extensive knowledge of the market, their understanding of area trends, and their ability to negotiate on your behalf. Whether you’re looking to buy your dream home or sell your property for the best possible price, having a trusted professional by your side can make all the difference.

Ready to Take the Next Step?

If you’re considering buying or selling a home in Northwest Vermont, don’t go it alone. Contact us today for a personalized market analysis tailored to your specific needs. Let us help you navigate this competitive market with confidence, ensuring that you achieve your real estate goals.

 

Northwest Vermont Market Review By County:

Statistics are for single-family home sales in July 2024.

Chittenden County:

• Active Inventory = 155

• Median Sales Price = $645,000

• Median Days On Market = 9

• Closed Sales = 114

• List Price Received = 102.9%

Franklin County:

• Active Inventory = 109

• Median Sales Price = $415,000

• Median Days On Market = 11

• Closed Sales = 45

• List Price Received = 100.7%

Grand Isle County:

• Active Inventory = 47

• Median Sales Price = $589,000

• Median Days On Market = 15

• Closed Sales = 15

• List Price Received = 100.2%

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This house is currently under contract and not for sale. 

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Welcome to our latest market update for single-family home sales in Northwest Vermont. As we move into the heart of summer, it's essential for both buyers and sellers to stay informed about current market conditions. This month, we have seen some interesting trends that highlight the dynamic nature of our local real estate market. While we remain in a seller's market, the market is not as competitive as we’ve seen in the last couple of years. Let's dive into the key statistics for June 2024 and understand what they mean for you.

What These Numbers Mean for Buyers and Sellers

Median Sales Price

The median sales price has risen to $525,000, reflecting a 3.3% increase from the previous month and a 5.2% rise from June 2023. This consistent growth in home values is good news for sellers, indicating a strong market where properties continue to appreciate. For buyers, while higher prices may seem daunting, it also signals that investing in real estate in Northwest Vermont is likely to yield long-term gains.

Closed Sales

With 159 closed sales in June, we see a significant 13.6% increase from May 2024, though there's a 7.6% decrease from June 2023. This uptick in month-over-month sales suggests a bustling market as we enter summer. However, the year-over-year decrease indicates a slight cooling compared to last year. Sellers can be encouraged by the recent increase in activity, while buyers should be prepared to move quickly as homes are selling at a brisk pace.

Median Days On Market

The median days on market remain steady at 6 days, unchanged from both the previous month and last year. This stability indicates a balanced market where well-priced homes sell rapidly. For sellers, this means ensuring your home is competitively priced and market-ready to attract quick offers. For buyers, it underscores the importance of being ready to act fast when you find the right property.

List Price Received

Sellers are receiving an average of 102.8% of their list price, up 1.4% from May 2024 but slightly down by 0.7% from June 2023. This high percentage shows that many homes are still selling above the asking price, reflecting strong buyer demand. Sellers can take advantage of this by pricing their homes strategically. Buyers should be prepared to offer above the list price to stay competitive in desirable areas.

New Listings

There were 251 new listings in June, a 7.7% decrease from May 2024 but a 13.1% increase from June 2023. This indicates a healthy flow of new properties entering the market, providing more options for buyers. However, the month-over-month decrease suggests a slight slowdown in new listings. Sellers should note the increased competition from new listings compared to last year and ensure their properties stand out.

Active Inventory

The active inventory has grown to 300 homes, marking a 14.5% increase from the previous month and a substantial 33.9% increase from June 2023. This rise in available homes is beneficial for buyers, offering more choices and potentially easing some of the competitive pressure. For sellers, it means there’s more competition, so presenting your home in the best possible light is crucial.

Months Supply of Inventory

The months supply of inventory is now at 1.9, a slight 0.8% increase from May 2024 and a significant 44.9% increase from June 2023. This measure indicates how long it would take to sell all the current listings at the current sales pace. A rising months supply suggests the market is moving toward a more balanced state, although it remains a seller’s market. For buyers, this shift could mean slightly less competition and more negotiating power. Sellers, on the other hand, should be aware that the market is gradually balancing and price their homes accordingly.

Get a Personalized Market Analysis

Understanding these trends is crucial whether you’re buying or selling in Northwest Vermont. A personalized market analysis can provide deeper insights tailored to your specific area of interest. By partnering with a local real estate expert, you can navigate this competitive market with confidence. Local experts have the knowledge and experience to guide you through every step of the process, ensuring you make informed decisions.

Why Partner with a Local Real Estate Expert?

Local real estate experts understand the nuances of the Vermont market. They can offer valuable advice on pricing, marketing strategies, and negotiation tactics. Their expertise can make the difference between a successful transaction and a missed opportunity. Whether you're a buyer looking for your dream home or a seller aiming to maximize your investment, having a trusted professional by your side is invaluable.

Ready to Make Your Move?

If you’re considering buying or selling a home in Northwest Vermont, now is the time to act. Contact us today for a personalized market analysis and let us help you achieve your real estate goals. Together, we can turn your real estate dreams into reality.

 

Northwest Vermont Market Review By County:

Statistics are for single-family home sales in June 2024.

Chittenden County:

• Active Inventory = 147

• Median Sales Price = $651,326

• Median Days On Market = 6

• Closed Sales = 98

• List Price Received = 103.7%

Franklin County:

• Active Inventory = 105

• Median Sales Price = $379,000

• Median Days On Market = 7

• Closed Sales = 55

• List Price Received = 101.8%

Grand Isle County:

• Active Inventory = 48

• Median Sales Price = $477,00

• Median Days On Market = 32

• Closed Sales = 6

• List Price Received = 98.2%