Existing home sales declined nationwide for the eighth consecutive month, falling 1.5% as of last measure, according to the National Association of REALTORS® (NAR), with sales down nearly 24% from the same period last year. Pending home sales also declined, dropping 10.9% month-to-month, exceeding economists’ expectations. Stubbornly high inflation and soaring borrowing costs have eroded buyer purchasing power and have caused the market to cool rapidly this year.

New Listings decreased 9.2 percent for single-family homes and 2.1 percent for townhouse-condo properties. Pending Sales decreased 21.0 percent for single-family homes but increased 1.9 percent for townhouse-condo properties.

Inventory decreased 9.0 percent for single-family homes and 29.2 percent for townhouse-condo properties.The Median Sales Price was up 9.8 percent to $435,000 for single-family homes and 16.3 percent to $330,000 for townhouse-condo properties. Days on Market decreased 6.7 percent for single-family homes and 45.8 percent for townhouse condo properties. Months Supply of Inventory increased 6.7 percent for single-family homes but increased 25.0 percent for townhouse-condo properties.

The US housing market is undergoing a major shift, and affordability continues to be an obstacle for buyers and sellers. Mortgage rates have doubled since March, and home prices remain elevated due to a limited supply of homes, although price gains are slowing at a quickening pace. As a result, many homeowners are waiting until market conditions improve to sell their home, while other sellers are increasingly cutting prices and offering concessions to attract a greater number of buyers.

Do you have questions about the current market? We're here to help. Contact us today.

 

The Lake Champlain Islands have been producing apples for generations. Fall apple picking is a must-try activity when visiting or living in Vermont. These popular Grand Isle County apple orchards have been family owned for generations. Learn more about them below! 

Allenholm Farm 

Allenholm Farm is located on South Street in South Hero, Vermont. Allenholm Farm has been around since 1870; the Allen family has run the farm for seven generations. According to the South Hero Land Trust, it is the oldest commercial apple orchard still operating in Vermont. They offer pick-your-own apples, desserts such as Papa Ray’s Pies, and the best maple creemees. 

Hackett's Orchard 

Family-owned since 1967, the 50-acre farm and market offer apples, fresh cider doughnuts, apple cider, cider slush, and even apple crisp! Hackett's Orchard has a total of 47 different varieties of apples. In September, they offer pick-your-own apples. Head to South Street to get your Vermont apples, pumpkins, and sweet treats.

Hall’s Orchard

Hall’s Orchard is a family-owned apple orchard located in Isle La Motte. The property in Isle La Motte has been in the Hall family since the late 1700s and the orchard has been family owned since 1828. The farmhouse is a historic structure made with stone quarried on the island and shows the famous ancient coral reef fossils. 

Owner-operator Allen Hall grows and harvests apples and pears on Main Street in the town of Isle La Motte, Vermont. The orchard has pick your own and fresh cider in season as well as pears, maple syrup, pumpkins, and honey!

The beautiful landscape, close-knit community, history, and countless places to explore are why so many are grateful to call the Champlain Islands home.

Thinking of making a move? Learn more about Life In The Champlain Islands or to begin your property search browse available homes in the Champlain Islands.

Curb appeal plays a huge part in getting buyers through the door in the fall selling season. While the flowers are fading and the cold weather sets in, it doesn’t mean it is time to abandon your outdoor spaces! Take advantage of the fall ambiance and use these tips to attract potential buyers.

1. Pressure Wash & Paint

Pressure washing will clear any debris and dirt from the home's exterior. Consider adding a fresh coat of paint to the front door or trim for a quick transformation.

2. Refresh Your Old Hardware

Replacing the doorknob and purchasing new house numbers is an affordable yet impactful way to take your home’s exterior appeal to the next level.

3. Add Outdoor Decor

Pick up some pumpkins or mums to draw the eye to your front entrance. Remember to complement your home's style, but less is often more when decorating.  

4. Clean the Gutters

Clearing out the gutters is both visually appealing and essential for home maintenance. This task prevents water damage, rot, and a place for pests to nest, and it helps the overall lifespan of the roof and foundation. 

5. Keep it Light

As the sun drops earlier, outdoor lighting will help improve your nighttime curb appeal.  Add some warm outdoor lights, such as solar lights, near your walkway, or clean your existing lighting.  

 

This fall remains a great time to sell your Vermont home. These curb appeal tricks will help you to create a warm and welcoming home to get your home noticed faster. Selling a home is complicated, but our agents at Coldwell Banker Islands Realty is here to guide you through every step. 

 

 

Summer 2022 has been a season of change for the U.S. real estate market. With housing affordability at a 33-year low, existing-home sales have continued to soften nationwide, falling 5.9% month-to-month and 20.9% year-over-year as of last measure, according to the National Association of REALTORS® (NAR). Pending home sales have also continued to decline, a while new listings have steadily increased, with unsold inventory reaching 3.3 months’ supply at the start of August. The pullback in demand has been particularly hard on homebuilders, causing new-home sales and construction to slow.

New Listings decreased 10.7 percent for single-family homes but increased 16.4 percent for townhouse-condo properties. Pending Sales decreased 5.5 percent for single-family homes but increased 1.4 percent for townhouse-condo properties. Inventory decreased 22.8 percent for single-family homes and 32.8 percent for townhouse-condo properties.

The Median Sales Price was up 9.5 percent to $450,000 for single-family homes and 32.5 percent to $330,000 for townhouse-condo properties. Days on Market remained flat for single-family homes but decreased 9.1 percent for townhouse- condo properties. Months Supply of Inventory decreased 5.9 percent for single- family homes and 30.0 percent for townhouse-condo properties.

Inflation, higher interest rates, and fears of a potential recession have taken a toll on buyers and sellers this summer, leading many people to stay on the sidelines to see what will happen with the market. But some experts, including NAR Chief Economist Lawrence Yun, believe the worst of inflation may be over. Although sales prices remain up from this time last year, price growth is expected to moderate in the months ahead as the market continues to shift in a more buyer-friendly direction.”

Do you have questions about the current market? We're here to help. Contact us today.

Did you know that real estate listings with video get 403%* more inquiries?

Video home tours are an exciting and engaging way to highlight a home's unique qualities to prospective buyers. At Coldwell Banker Islands Realty, we leverage these short-form videos on our social media platforms to promote our listings and attract the most interested buyers. These videos reach a broader audience, have higher engagement and lead to more views on the listing page maximizing the listings exposure. Check out our top performing videos below!

The first video is a short “highlight” instagram video reel of a contemporary luxury retreat on Lake Champlain. We use Instagram to promote listings and our real estate services. Agent bio and area videos have proven successful online as well and receive much higher engagement than images. 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

A post shared by Coldwell Banker Islands Realty (@cbislandsrealty)

 

It is always important to stay on top of the next big thing, especially when it comes to real estate marketing. The second video is from our TikTok account. TikTok is the most recent video app platform to take off and offers high reach and engagement. You will be able to consume content such as the property tour above as well as real estate tips on our page.

 

@cbislandsrealty RATE THIS FARMHOUSE 1-10#farmhousestyle #farmhouseliving #farmhouselife #farmhouselife #farmhousekitchen #vermonttiktok #farmhousesink #vermontlife In My Room by Chance Peña - chancepena

 

The third video is an example of one of our fast-paced mini home tours. We use short-form and long-form videos on our Youtube channel to reach more potential homebuyers and give them a better idea of the layout of the home and property. In 2021, we reached 720.6K people through our Youtube Channel! 

 

 

Make sure to follow us on along on our social media platforms to see beautiful homes and all other things Vermont real estate related!

 

*According to National Association of REALTORS® Statistics