Our Vermont Real Estate Update – July 2017

The Northwestern Vermont Board of Realtors (NVBR) has released its market statistics for July 2017. The information is collected directly from the New England Real Estate Network and covers Chittenden, Franklin and Grand Isle Counties. They noted the following for the month of July in their report:

  • 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.

Chittenden County: Last month we talked about how listings were slowing down in Chittenden County. We saw the same thing happen in July – listings were down 15% compared to last July. So for the year inventory is down about 7%, which is causing pricing to go up a little bit. Our pricing in July was up 2% year to date. The median house price is $314,000. Half of the homes that have sold for the year have been over $314,000 and half have been under, and that’s up $8,000 from last year. Closed sales were again off about 3% for year in month of July we’re down about 5%. This is definitely a great time to sell, and with interest rates at record lows for the year, it’s also a great time to buy.

View Northwestern Vermont’s Real Estate Statistic Report and statistics by town. If you have any questions about buying and selling real estate contact Mike Conroy at 802-363-3356 or mike@conroyandcompany.com.

Conroy & Company is a Keller Williams Vermont team of Realtors located in South Burlington, Vermont. Our mission is to serve our clients with the highest level of personal commitment to helping them reach their goals. Our focus is to bring the latest technology and marketing skills to our clients, and do so in the most personal, hands on way possible. Our collaborative, strength in numbers approach to exceeding your expectations, has helped keep us in the top 2% of Vermont agents/teams ever since 2003

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