The Northwestern Vermont Board of REALTORS® (NVBR) has released its market statistics for July 2017. The information is derived from data contained in the New England Real Estate Network and covers Chittenden, Franklin and Grand Isle Counties.

Changes for July over last year at this time include:

– New Listings were down 14.5 percent for Single Family homes and decreased 15.1 percent for Townhouse- Condo properties.
– Pending Sales increased 20.4 percent for Single Family homes and increased 6.6 percent for Townhouse-Condo properties.
– The median sales price was up 5.1 percent to $279,000 for Single Family homes and 10.4 percent to $240,000 for townhouse-condo properties.
– Closed sales remained relatively flat for Single Family properties and decreased 8.3 percent for townhouse- condo properties.
– Average days on market decreased 50 percent or 70 days for Single Family homes and decreased 54.3 percent or 48 days for the townhouse-condo market.
– Month’s supply of inventory decreased 19.4 percent, or 5.8 months for Single Family units and decreased 20.5 percent, or 3.1 months for townhouse-condo units.

The Northwestern Vermont Board of REALTORS® (NVBR) has released its market statistics for May 2017. The information is derived from data contained in the New England Real Estate Network and covers Chittenden, Franklin and Grand Isle Counties.

Changes for May over last year at this time include:

– New Listings were up 24.9 percent for Single Family homes but decreased 9.5 percent for Townhouse-Condo properties.
– Pending Sales increased 9.5 percent for Single Family homes and increased 13.7 percent for Townhouse-Condo properties.
– The median sales price was up 1.5 percent to $277,000 for Single Family homes and 6.0 percent to $228,000 for townhouse-condo properties.
– Closed sales decreased 4.4 percent for Single Family properties and decreased 9.8 percent for townhouse-condo properties.
– Average days on market decreased 31.9 percent or 96 days for Single Family homes and decreased 41.0 percent or 69 days for the townhouse-condo market.
– Month’s supply of inventory decreased 18.3 percent, or 5.8 months for Single Family units and decreased 16.7 percent, or 3.6 months for townhouse-condo units.

The Northwestern Vermont Board of REALTORS® (NVBR) has released its market statistics for April 2017. The information is derived from data contained in the New England Real Estate Network and covers Chittenden, Franklin and Grand Isle Counties.

Changes for April over last year at this time include:

– New Listings were down 15.0 percent for Single Family homes and 19.6 percent for Townhouse-Condo properties.
– Pending Sales decreased 7.6 percent for Single Family homes and remained flat for Townhouse-Condo properties.
– The median sales price was down 3.4 percent to $272,000 for Single Family homes and 15.0 percent to $206,500 for townhouse-condo properties.
– Closed sales decreased 18.2 percent for Single Family properties and decreased 2.0 percent for townhouse- condo properties.
– Average days on market decreased 58.9 percent or 67 days for Single Family homes and decreased 45.4 percent or 83 days for the townhouse-condo market.
– Month’s supply of inventory decreased 26.4 percent, or 5.3 months for Single Family units and decreased 12.1 percent, or 2.9 months for townhouse-condo units.

Tight inventory levels continue to be a challenge in the northwestern Vermont market. This has resulted in days on market decreasing substantially, and in many instances multiple offers are driving prices up.

The Northwestern Vermont Board of REALTORS® (NVBR) has released its market statistics for March 2017. The information is derived from data contained in the New England Real Estate Network and covers Chittenden, Franklin and Grand Isle Counties.

Changes for March over last year at this time include:

– New Listings were down 24.3 percent for Single Family homes and 4.4 percent for Townhouse-Condo properties.
– Pending Sales increased 1.8 percent for Single Family homes and 10.2 percent for Townhouse-Condo properties.
– The median sales price remained flat at $250,000 for Single Family homes but increased 5.9 percent to $220,000 for townhouse-condo properties.
– Closed sales decreased 6.6 percent for Single Family properties and decreased 19.6 percent for townhouse-condo properties.
– Average days on market decreased 24.6 percent or 107 days for Single Family homes and decreased 3.2 percent or 120 days for the townhouse-condo market.
– Month’s supply of inventory decreased 29.4 percent, or 4.8 months for Single Family units and decreased 9.7 percent, or 2.8 months for townhouse-condo units.

“As we end the first quarter of 2017 we continue to see tight inventory levels, especially in the mid-price range of $250,000 to $400,000”, said Kathleen Sweeten, CEO of the Northwestern Vermont Board of Realtors®. “It is anticipated that this trend will continue for a while, as we see a slow, steady growth in sales prices.”

The Northwestern Vermont Board of REALTORS® (NVBR) has released its market statistics for February 2017. The information is derived from data contained in the New England Real Estate Network and covers Chittenden, Franklin and Grand Isle Counties.

– New Listings were down 11.7percent for Single Family homes but increased 5.7 percent for Townhouse-Condo properties.
– Pending Sales increased 2.3 percent for Single Family homes but decreased 14.1 percent for Townhouse-Condo properties.
– The median sales price was up 5.9 percent to $248,500 for Single Family homes and increased 58.9 percent to $290,000 for townhouse-condo properties.
– Closed sales decreased 22.9 percent for Single Family properties and decreased 11.5 percent for townhouse- condo properties.
Average days on market decreased 47.6 percent or 89 days for Single Family homes and decreased 25.5 percent or 135 days for the townhouse-condo market.
– Month’s supply of inventory decreased 27.3 percent, or 4.8 months for Single Family units and decreased 12.5 percent, or 2.8 months for townhouse-condo units.

“Demand definitely remains strong in our area, contributing to the continued rise in sales prices”, said Kathleen Sweeten, CEO of the Northwestern Vermont Board of Realtors®.

The Northwestern Vermont Board of REALTORS® (NVBR) has released its market statistics for January 2017. The information is derived from data contained in the New England Real Estate Network and covers Chittenden, Franklin and Grand Isle Counties.
Changes for January over last year at this time include:

– New Listings were down 15.1 percent for Single Family homes and 10.0 percent for Townhouse-Condo properties.
– Pending Sales decreased 1.8 percent for Single Family homes and 12.5 percent for Townhouse-Condo properties.
– The median sales price was down 1.4 percent to $246,400 for Single Family homes but increased 16.4 percent to $259,624 for townhouse-condo properties.
– Closed sales increased 0.9 percent for Single Family properties and 2.3 percent for townhouse-condo properties.
– Average days on market decreased 48.5 percent or 86 days for Single Family homes and decreased 35 percent or 93 days for the townhouse-condo market.
– Month’s supply of inventory decreased 29.2 percent, or 4.6 months for Single Family units and decreased 19.4 percent, or 2.9 months for townhouse-condo units.

“Our area of Vermont continues to see slow, steady growth”, said Kathleen Sweeten, CEO of the Northwestern Vermont Board of Realtors®. “Inventory continues to be tight, which is contributing to price increases in each of our three county area”.

The Northwestern Vermont Board of REALTORS® (NVBR) has released its market statistics for December 2016 and the Annual real estate market statistics. The information is derived from data contained in the New England Real Estate Network and covers Chittenden, Franklin and Grand Isle Counties.

Changes for December over last year at this time include:

– New Listings were down 7.8 percent for Single Family homes but remained flat for Townhouse-Condo properties.
– Pending Sales increased 2.9 percent for Single Family homes but decreased 17.1 percent for Townhouse-Condo properties.
– The median sales price was up 9.5 percent to $284,750 for Single Family homes but decreased 1.2 percent to $219,250 for townhouse-condo properties.
– Closed sales increased 6.9 percent for Single Family properties but decreased 16.7 percent for townhouse-condo properties.
Average days on market decreased 25.5 percent or 111 days for Single Family homes and decreased 58.5 percent or 54 days for the townhouse-condo market.
-Month’s supply of inventory decreased 28.8 percent, or 4.7 months for Single Family units and decreased 23.7 percent, or 2.9 months for townhouse-condo units.

“December ended much like most of 2016. There continues to be low inventory and days on market is down”, said Kathleen Sweeten, CEO of the Northwestern Vermont Board of Realtors®. “Realtors® continue to be very busy and are optimistic for 2017”.

The story has remained consistent as concerns residential real estate. In year- over-year comparisons, the number of homes for sale has been fewer in most communities. Meanwhile, homes are selling in fewer days and for higher prices. This hasn’t always been the case, but it has occurred with enough regularity and for enough time to make it a trend for the entirety of 2016.

New Listings were down 10.8 percent for Single-Family homes and 33.3 percent for Townhouse-Condo properties. Pending Sales increased 26.9 percent for Single-Family homes and 6.5 percent for Townhouse-Condo properties.

The Median Sales Price was up 2.5 percent to $263,500 for Single-Family homes but decreased 7.5 percent to $212,750 for Townhouse-Condo properties. Months Supply of Inventory decreased 31.2 percent for Single- Family units and 29.5 percent for Townhouse-Condo units.

Financial markets were volatile in the days surrounding the presidential election, but they self-corrected and reached new heights soon after. Long-term indicators of what it will be like to have a real estate developer for a president remain fuzzy, but the outcome is not likely to be dull. Prior to the election, trend shift was hard to come by, and unemployment rates have not budged since August 2015. Post-election, mortgage rates are up and so are opinions that a trend shift is likely in the near future.

As we enter the final quarter of 2016, not much has changed since the year began. Market predictions have been, in a word, predictable. A relatively comfortable pace of activity has been maintained thanks to continuing low unemployment and mortgage rates. The one basic drag on market acceleration has been inventory decline. There is little to indicate that the low inventory situation will resolve anytime soon.

New Listings remained flat for Single-Family homes but decreased 17.3 percent for Townhouse-Condo properties. Pending Sales increased 4.9 percent for Single-Family homes but decreased 4.6 percent for Townhouse-Condo properties.

The Median Sales Price was up 2.4 percent to $258,000 for Single-Family homes and 20.1 percent to $242,000 for Townhouse-Condo properties. Months Supply of Inventory decreased 29.8 percent for Single-Family units and 23.9 percent for Townhouse-Condo units.

Builder confidence is as high as it has been in more than a decade, yet the pace of economic growth has been slow enough to cause pause. A low number of first-time buyer purchases and a looming demographic shift also seem to be curbing the desire to start new single-family construction projects. As older Americans retire and downsize, single-family listings are expected to rise. The waiting is the hardest part.

As anticipated at the outset of the year, demand has remained high through the first three quarters of 2016, propping up sales and prices despite heavy reductions in inventory and months of supply across the country. With rental prices and employment opportunities in a consistent climb, year-over-year increases in home buying are probable for the rest of the year but not guaranteed.

New Listings were down 22.1 percent for Single-Family homes and 14.9 percent for Townhouse-Condo properties. Pending Sales increased 20.1 percent for Single-Family homes but remained flat for Townhouse-Condo properties.

The Median Sales Price was up 6.3 percent to $260,000 for Single-Family homes but decreased 2.0 percent to $232,800 for Townhouse-Condo properties. Months Supply of Inventory decreased 32.0 percent for Single- Family units and 20.4 percent for Townhouse-Condo units.

In general, today’s demand is driven by three factors: Millennials are reaching prime home-buying age, growing families are looking for larger homes and empty nesters are downsizing. However, intriguingly low interest rates often prompt refinancing instead of listing, contributing to lower inventory. Recent studies have also shown that short-term rentals are keeping a collection of homes off the market.