The Northwestern Vermont Board of REALTORS® (NVBR) has released its real estate market statistics for April 2016. The information is derived from data contained in the New England Real Estate Network and covers Chittenden, Franklin and Grand Isle Counties.
Changes seen from last year at this time include:
– New Listings were down 3.2 percent for Single Family homes but increased 7.1 percent for Townhouse-Condo properties.
– Pending Sales decreased 4.6 percent for Single Family homes and decreased 4.7 percent for Townhouse-Condo properties.
– The median sales price up 10.3 percent to $280,750 for Single Family homes and 20.0 percent to $240,000 for townhouse-condo properties.
– Closed sales decreased 12.9 percent for Single Family properties and remained the same as the previous year for townhouse-condo properties.
– Average days on market dropped 10.0 percent or 108 days for Single Family homes but increased 64.2 percent or 110 days for the townhouse-condo market.
– Month’s supply of inventory decreased 17.0 percent, or 7.8 months for Single Family units and decreased 26.0 percent, or 3.7 months for townhouse-condo units.
Trends from the end of 2015 appear to be prevailing through the first part of 2016. Home prices have been steadily rising at moderate rates and the demand for properties continues to be strong.