March’s move-in ready home is hidden in plain sight! From the moment you pull up the driveway, you'll be wowed by the privacy and peaceful setting of this four-bed, two-bath home. The residence is located on 5.24 beautiful acres in a convenient Grand Isle location with views and pristine lake frontage. This home is currently for sale.
Welcome, future homeowners and sellers! Today, we're diving into the bustling real estate scene of Northwest Vermont. Whether you're considering buying or selling, understanding the latest trends and statistics is crucial. Let's break down the key points from January 2024 to help you make informed decisions. These statistics are for single-family home sales in Grand Isle, Franklin, and Chittenden County.
In January 2024, the median sales price for single-family homes in Northwest Vermont stood at $460,000. This figure marks a 5.7% increase from the previous month and a substantial 7% rise from January 2023. For buyers, this signals a growing market where property values are appreciating, potentially leading to higher investment returns in the long run. Sellers can rejoice at the prospect of fetching better prices for their homes, reflecting a healthy and competitive real estate landscape.
Despite a 13.5% decrease from the previous month, January 2024 saw a 23.9% increase in closed sales compared to the same period last year. This suggests a robust demand for homes in Northwest Vermont. Buyers should be prepared to act swiftly when they find a property that meets their needs, as competition remains stiff. Sellers can leverage this demand to their advantage, but pricing their homes competitively and ensuring they stand out in a crowded market will be key to attracting buyers.
The median DOM rose significantly to 25 days, marking an 85.2% increase from the previous month and doubling from January 2023. This shift indicates a slight cooling in the market compared to the rapid pace seen in previous months. Buyers may find more breathing room to conduct thorough inspections and negotiations, while sellers should be mindful of pricing strategies to avoid prolonged listing periods.
Sellers received approximately 99.7% of their list price in January 2024, reflecting a slight dip from the previous month and a marginal decrease from the same period last year. While this may signal a slight softening in negotiations, it still indicates a seller-friendly market where buyers are willing to meet asking prices. Buyers should be prepared to negotiate effectively, while sellers should aim for realistic pricing to attract motivated buyers.
The active inventory in Northwest Vermont decreased by 19.2% from the previous month but increased by 4.3% compared to January 2023. This suggests a tightening of available housing stock in our area, potentially leading to increased competition among buyers. Buyers should act decisively and consider broadening their search criteria to find suitable options. Sellers, on the other hand, may benefit from listing their properties in a market with limited inventory, potentially leading to quicker sales and favorable terms.
The MSI decreased to 1.3 months, marking a 6.6% decrease from the previous month and a 15.8% decrease from January 2023. A lower MSI indicates a seller's market, where demand outpaces supply. For buyers, this means facing heightened competition and possibly needing to make stronger offers to secure a desired property. Sellers can capitalize on the low MSI by strategically pricing their homes and leveraging the scarcity of available inventory to their advantage.
Chittenden County:
Franklin County:
Grand Isle County:
In conclusion, the Northwest Vermont real estate market continues to exhibit strength and resilience, with both buyers and sellers finding opportunities in the current landscape. Whether you're looking to buy or sell, staying informed about market trends and statistics is key to making sound decisions.
Ready to explore your options further? Contact us today for a personalized market analysis tailored to your area of interest. Let's navigate the Vermont real estate market together! Contact us now for a complimentary market analysis of your area!
A warm welcome to our February newsletter! As we enter into the thick of winter, we're here to share local events, hot market stats, a hidden lakefront home tour, and some featured properties!
Lake Champlain Winter Event Guide
Don't miss out on February fun in the Lake Champlain area! From live music nights to winter carnivals there is something for everyone to enjoy.
Read Winter Guide
February’s Hidden Home is nestled on Lake Champlain's Inland Sea. This one-level residence features 200 feet of gradual lake frontage.
Lot 5 Four Winds Ln, North Hero, VT
Price: $150,000
67 & 74 E Shore S, Grand Isle, VT
Price: $635k - Price reduced!
Visit our website to view these listings and see more available office listings.
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November’s Hidden Home is an iconic stone home located in Isle La Motte. The home was built in 1829 with limestone from the Fisk Quarry and includes 4.4 acres with extensive gardens. The current owners completed extensive renovations to the property that respect the original features of the home while modernizing it for comfortable year-round living.
Watch to see the interior and subscribe to our YouTube Channel to see more Hidden Vermont Homes!
October’s Hidden home is a stunning covert colonial in Essex, Vermont. The four-bed, four-bath residence is tucked back on 11.9 acres with a mix of mature trees, meadows, and gardens. Enjoy an in-ground pool and beautiful views of the Green Mountains from the elegant deck.
Watch to see the interior and subscribe to our YouTube Channel to see more Hidden Vermont Homes!
