The Northwestern Vermont Board of REALTORS® (NVBR) has released its real estate market statistics for March 2016. The information is derived from data contained in the Northern 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 1.4 percent for Single Family homes and down 19.8 percent for Townhouse-Condo properties.
– Pending Sales increased 7.9 percent for Single Family homes and increased 26.7 percent for Townhouse-Condo properties.
– The median sales price up 5.5 percent to $250,000 for Single Family homes but decreased 7.2 percent to $205,000 for townhouse-condo properties.
– Closed sales increased 13.2 percent for Single Family properties and increased 32.5 percent for townhouse- condo properties.
– Average days on market dropped 19.8 percent or 97 days for Single Family homes and decreased 39.5 percent or 53 days for the townhouse-condo market.
– Month’s supply of inventory decreased 21.7 percent, or 7.2 months for Single Family units and decreased 31.3 percent, or 3.3 months for townhouse-condo units.
According to the National Association of Realtors, the Northeast and Midwest contributed to the rebound in the gain of existing home sales nationally and remained slightly up from a year ago. Buyer demand remains sturdy in most areas this spring and the mid-priced market is doing well.