Greetings, fellow real estate enthusiasts! Today, we're diving into the dynamic market of Northwest Vermont, unpacking key statistics from February 2024 to help you understand the trends shaping buying and selling decisions in our region. Whether you're considering purchasing your dream home or selling your property, knowledge is your greatest asset. Let's explore the numbers and what they mean for you. These statistics are for single-family home sales in Grand Isle, Franklin, and Chittenden County. 

Median Sales Price: $432,250

February saw a 6% decrease from the previous month and a 3.7% decrease compared to February 2023. While this may seem like a downturn, it's essential to understand the broader context. For buyers, this indicates potential opportunities for more affordable purchases, while sellers may need to adjust their pricing strategies accordingly.

Closed Sales: 64

There was a notable 41.3% decrease from the previous month and a 5.9% decrease from February 2023. This decline in closed sales reflects a slowdown in the market, which could be attributed to various factors such as seasonal fluctuations or shifts in buyer demand. Buyers may find less competition, while sellers might need to be patient and strategic in their approach.

Median Days On Market: 6

With a remarkable 76% decrease from the previous month and a 25% decrease from February 2023, homes are spending less time on the market. This swift pace underscores the urgency for both buyers and sellers to act decisively. Buyers should be prepared to make quick decisions, while sellers can capitalize on favorable conditions by ensuring their properties are market-ready.

List Price Received: 99.6%

While there was a marginal 0.1% decrease from the previous month, February 2024 saw a 0.1% increase from the same period last year. This statistic indicates that sellers are generally receiving close to their asking price, highlighting the stability of the market. For sellers, it underscores the importance of pricing properties accurately, while buyers should be prepared to negotiate within a narrow margin.

New Listings: 91

There was no change from the previous month, but February 2024 saw a 1.1% increase compared to the same period last year. This steady influx of new listings provides buyers with a diverse range of options to explore. Sellers, however, may face increased competition and should focus on showcasing the unique features of their homes to stand out in the market.

Active Inventory: 141

Despite a 6.6% decrease from the previous month, February 2024 witnessed a 3.7% increase compared to February 2023. This balance between supply and demand is crucial for maintaining a healthy market environment. Buyers have a reasonable selection of homes to choose from, while sellers should be mindful of market conditions when pricing their properties.

Northwest Vermont Market Review By County:

Chittenden County:

• Active Inventory = 64
• Median Sales Price = $566,500
• Median Days On Market = 6
• Closed Sales = 37
• List Price Received = 100.7%

Franklin County:

• Active Inventory = 54
• Median Sales Price = $339,950
• Median Days On Market = 7
• Closed Sales = 24
• List Price Received = 97.9%

Grand Isle County:

• Active Inventory = 24
• Median Sales Price = $300,000
• Median Days On Market = 64
• Closed Sales = 3
• List Price Received = 101.0%

As you can see, these statistics offer valuable insights for both Vermont buyers and sellers alike. Whether you're looking to purchase your first home, upgrade to a larger space, or sell your current property, understanding the nuances of the Northwest Vermont real estate market is essential for making informed decisions.

If you're curious about how these trends specifically impact your area of interest, please reach out for a personalized market analysis. By leveraging the expertise of a seasoned real estate professional, you can navigate the complexities of the market with confidence and clarity.

In conclusion, the Northwest Vermont real estate market presents a unique blend of opportunities and challenges. By staying informed and proactive, you can position yourself for success in achieving your real estate goals. Happy house hunting!

For a complimentary market analysis tailored to your needs, contact us today!

 

The economy is improving, unemployment is falling, and the U.S. real estate market remains strong as we head into the holiday season, a period when activity typically slows as people take time to travel, celebrate, and spend time with loved ones. Although the market is not as frenetic as was seen earlier this year, buyer demand is high, bolstered by attractive mortgage rates and a low supply of inventory.

New Listings increased 6.1 percent for single-family homes but decreased 4.5 percent for townhouse-condo properties. Pending Sales increased 11.7 percent for single-family homes but decreased 10.4 percent for townhouse-condo properties. Inventory decreased 45.6 percent for single-family homes and 44.8 percent for townhouse-condo properties.

The Median Sales Price was up 15.8 percent to $415,000 for single-family homes and 7.0 percent to $276,000 for townhouse-condo properties. Days on Market decreased 20.5 percent for single-family homes and 44.4 percent for townhouse-condo properties. Months Supply of Inventory decreased 47.4 percent for single-family homes and 40.0 percent for townhouse-condo properties.

The most recent data from the National Association of REALTORS® reports the median single-family existing home sales price rose 16% in the third quarter of this year to $363,700, with all four regions of the country experiencing double-digit price growth. In new construction, builder confidence increased in November, surpassing analyst expectations and rising to 83 on the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI), the highest level since spring, despite persistent labor and supply chain challenges and a shortage of available lots.

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 October 2020. The information is derived from data contained in the New England Real Estate Network and covers Chittenden, Franklin and Grand Isle Counties.

October continued to be busier than the calendar normally suggests. Buyer activity remains higher than normal for this time of year, while in many segments of the market housing supply remains much lower than one year ago. Multiple offers remain a common occurrence in many areas, keeping housing hot while the temperatures continue to fall.

New Listings decreased 0.9 percent for single-family homes and 25.6 percent for townhouse-condo properties. Pending Sales increased 15.7 percent for single-family homes but decreased 4.4 percent for townhouse-condo properties. Inventory decreased 47.5 percent for single-family homes and 51.1 percent for townhouse-condo properties.

The Median Sales Price was up 18.5 percent to $339,500 for single-family homes and 0.2 percent to $277,500 for townhouse-condo properties. Days on Market decreased 34.4 percent for single-family homes and 47.8 percent for townhouse-condo properties. Months Supply of Inventory decreased 48.8 percent for single-family homes and 54.5 percent for townhouse-condo
properties.

Mortgage rates dropped to new record lows again in October, helping to offset the monthly mortgage payment increases caused by the rise in home prices seen in many segments of the market across the country. While prices often dip a bit in the winter months, continued buyer demand may temper any price retreats this year.

Have you had your eye on a property? The price may have been reduced! Below are properties listed by Coldwell Banker Islands Realty that have had recent price reductions. See a property you like? Contact us or call the office directly, (802)372-5777, to speak to a Real Estate agent.

Listings Under $250k

 

 

 

 

 

 

 

 

 

$39,500

52 Martell Road, Alburgh, Vermont

Land: 1.63 Acres.

View Property

 

 

 

 

 

 

 

 

$184,000

599 Bow And Arrow Point, North Hero, Vermont

Land: 0.22 Acres, 1 bedroom, 1 bath, 480 sqft.

View Property

 

 

 

 

 

 

 

 

 

 

$239,000

127 Hawks View Lane, Isle La Motte, Vermont

Residential: 1.8 acres, 3 bedrooms, 2 baths, 2,044 sqft.

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Listings $250k-$400k

 

 

 

 

 

 

 

 

$267,500 ~ Lakefront!

1447 West Shore Road, Isle La Motte, Vermont

Residential: 0.64 acres, 2 bedrooms, 2 baths, 1,400 sqft, 100ft Lake Champlain frontage.

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$305,000

24 Eagle Camp Road, Grand Isle, Vermont

Residential: 11 acres, 3 bedrooms, 1 bath, 1,176 sqft.

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$339,000

1650 Bridge Road, North Hero, Vermont

Residential: 10.19 acres, 3 bedrooms, 2 baths, 2,732 sqft.

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$372,900

85 Blackberry Hill Road, Fletcher, Vermont

Residential: 9.82 acres, 3 bedrooms, 2 baths, 2,470 sqft.

View Property

 

Listings $400k-$600k

 

 

 

 

 

 

 

 

$410,000

2 Maynard Court, Grand Isle, Vermont

Residential: 13.8 acres, 3 bedrooms, 3 baths, 2,100 sqft.

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$585,000

152 River Road, Underhill, Vermont

Residential: 10.07 acres, 5 bedrooms, 4 baths, 3,426 sqft.

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$599,000 ~ Lakefront!

34 Wagner Point, Alburgh, Vermont

Residential: 10.5 acres, 4 bedrooms, 3 baths, 3,340 sqft, 240ft Lake Champlain frontage.

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Listings $600k+

 

 

 

 

 

 

 

 

 

$699,000 ~ Lakefront!

234 West Shore Road, Grand Isle, Vermont

Residential: 22.37 acres, 6 bedrooms, 5 baths, 3,575 sqft, 500ft Lake Champlain frontage.

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$725,000 ~ Lakefront!

19 Adams Landing Road Extension, Grand Isle, Vermont

Residential: 1.4 acres, 4 bedrooms, 3 baths, 2,345 sqft, 250ft Lake Champlain frontage.

View Property

 

Make Your Search Easier. Register online to get properties that fit your needs sent to your inbox. Happy searching!

See the most recent Vermont real estate market data for Grand Isle, Chittenden and Franklin County from January through May 2019. If you are interested in learning more about the market in your neighborhood please call our office to speak to a Realtor.

Wondering what your home would sell for in the current market? Try out the Home Value Estimator tool!

Searching for property? Make sure to Register with us to get properties that fit your needs emailed directly to you!