See the latest Northwestern Vermont real estate market report presented by NVBR below.

January started off strong for the housing market, with healthy buyer demand and strong market fundamentals. A robust increase in housing starts in December points to an active year for new construction, but higher material costs, especially lumber, and a limited supply of buildable lots will temper the number of new units.

New Listings decreased 14.6 percent for single-family homes and 41.3 percent for townhouse-condo properties. Pending Sales increased 8.0 percent for single-family homes but decreased 18.6 percent for townhouse-condo properties. Inventory decreased 56.7 percent for single-family homes and 65.4 percent for townhouse-condo properties.

The Median Sales Price was up 6.9 percent to $339,000 for single-family homes but decreased 9.4 percent to $234,750 for townhouse-condo properties. Days on Market decreased 44.3 percent for single-family homes and 27.8 percent for townhouse-condo properties. Months Supply of Inventory decreased 57.1 percent for single-family homes and 65.0 percent for townhouse-condo properties.

The Mortgage Bankers Association’s January research estimates approximately 2.7 million homeowners with mortgages are currently in forbearance plans. Some of these homes may eventually come to market, but given the strong appreciation in most market segments in recent years, these eventual home sales are likely to be mostly traditional sellers. However, a modest increase in short sales and foreclosures at some point this year would not be surprising.

See the latest Northwestern Vermont real estate market report presented by NVBR below.

The Northwestern Vermont Board of REALTORS® (NVBR) has released its market statistics for December 2020. The information is derived from data contained in the New England Real Estate Network and covers Chittenden, Franklin and Grand Isle Counties.

December is normally one of the slowest months of the year but strong buyer demand across most segments of the market, buoyed by near-record low interest rates, continue to drive a healthy sales pace in the face of a new wave of COVID-19 infections and a softening jobs market.

New Listings decreased 4.3 percent for single-family homes but increased 31.0 percent for townhouse-condo properties. Pending Sales increased 13.6 percent for single-family homes and 31.3 percent for townhouse-condo properties. Inventory decreased 54.7 percent for single-family homes and 57.0 percent for townhouse-condo properties.

The Median Sales Price was up 14.8 percent to $350,000 for single-family homes and 1.1 percent to $242,500 for townhouse-condo properties. Days on Market decreased 41.8 percent for single-family homes and 21.7 percent for townhouse-condo properties. Months Supply of Inventory decreased 56.3 percent for single-family homes and 57.1 percent for townhouse-condo properties.

With low mortgage rates and strong buyer demand in most market segments, the housing market of early 2021 looks to continue the trends we saw in the second half of 2020. Low inventory and multiple offers on in-demand properties and market segments are likely to remain common while the market waits and hopes for a boost in new construction and a surge in home sellers to help provide more balance to the market.

January's hidden home was an exclusive in-house listing that sold this past December. Built in 2008 and renovated in 2014, this 3 bedroom and 2 and half bath home is sited on a bluff with acreage and 240 ft of easily accessible lakeshore. You will be sure to enjoy this unreleased virtual home tour of this adorable Champlain Islands Lakefront Cape!

(This home is not for sale) 

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Happy New Year to our readers! As we begin a new year we are reflecting on 2020 and even though it was a difficult year with many changes we reached many milestones and are grateful to have had another successful year. 

After 26 years we moved into a new office, we rebranded, we launched a social mission to give back to our community, and we welcomed three new people to the CBIR team. The real estate market has kept us on our toes with shutdowns, stay at home orders, and embracing technology to offer virtual services. Despite these changes we have adapted and have continued to provide real estate services safely. 

We could not have reached these accomplishments without the support of our team, clients and community. We are grateful for all of your support. We look forward to the new year!

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See the latest Northwestern Vermont real estate market report presented by NVBR below.

The Northwestern Vermont Board of REALTORS® (NVBR) has released its market statistics for November 2020. The information is derived from data contained in the New England Real Estate Network and covers Chittenden, Franklin and Grand Isle Counties.

November saw the Dow Jones Industrial Average top 30,000 for the first time, while mortgage rates reached new record lows again. These new records have provided encouragement for buyers to move forward on home purchases, which continued to remain strong overall for the month.

New Listings decreased 2.2 percent for single-family homes and 38.6 percent for townhouse-condo properties. Pending Sales increased 21.5 percent for single-family homes but decreased 9.6 percent for townhouse-condo properties. Inventory decreased 52.2 percent for single-family homes and 55.6 percent for townhouse-condo properties.

The Median Sales Price was up 17.2 percent to $358,500 for single-family homes and 7.0 percent to $259,000 for townhouse-condo properties. Days on Market decreased 30.2 percent for single-family homes and 48.1 percent for
townhouse-condo properties. Months Supply of Inventory decreased 55.6 percent for single-family homes and 56.5 percent for townhouse-condo properties.

Showing activity remains higher than the same period a year ago across most of the country, suggesting that strong buyer demand is likely to continue into what is typically the slowest time of year. With inventory remaining constrained in most market segments, sellers continue to benefit from the tight market conditions.