Our Vermont Real Estate Update – October

The Northwestern Vermont Board of Realtors (NVBR) has released its market statistics for October 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 October in their report:

Changes for October over last year at this time include:

  • New Listings remained flat for Single Family homes but increased 4.8 percent for Townhouse-Condo properties.
  • Pending Sales increased 28.1 percent for Single Family homes but decreased 1.6 percent for Townhouse-Condo properties.
  • The median sales price was up 8.0 percent to $278,000 for Single Family homes but decreased 9.5 percent to $219,000 for townhouse-condo properties.
  • Closed sales increased 5.6 percent for Single Family properties and increased 13.1 percent for townhouse-condo properties.
  • Average days on market decreased only 1 percent or 101 days for Single Family homes and decreased 35.8 percent or 52 days for the townhouse-condo market.
  • Month’s supply of inventory decreased 19.4 percent, or 5.0 months for Single Family units and decreased 18.9 percent, or 3.0 months for townhouse-condo units.

Chittenden County:

A couple of things on the three updates that we always update on: Listings are down 5% for the year through October which is par for the course, it’s where we’ve been all year. Additionally, as we’ve been saying, Closings have been catching up with last year and we are now only 1 closing behind 2016 – we’ve done virtually the same number of closings through October 2017. Last but not least, the good news which has continued all year as well, the Average Sale Price in Chittenden County is now up to $318,950 and that’s up $16,240 which is 5.4%. Three consistent markers are our product inventory to chose from is down a bit, but not much, our closings are even with last year, and our pricing is going up. We would imagine those trends will continue through November and December. We’ll come back in January with a recap.

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

COMING SOON! Brand New 2 Bedroom Mobile Home in Burlington

New Commodore Astro 14’x48′ two bedroom, one bath home for sale in newly formed North Avenue Co-op! Great location right off North Avenue and across from Ethan Allen Shopping Plaza, close to the Lake and Leddy Park, bike trails and the bus line. This is a brand new energy star rated home – very efficient and affordable option in beautiful Burlington, Vermont! Welcome home!

29 Avenue B
Burlington, Vermont
Offered at $65,000

Contact Mike Conroy with questions or to schedule an early showing before this home goes into MLS: mike@conroyandcompany.com or 802-363-3356.

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.

 

The Six Best DIY Tips to Prep Your Home for Sale

It’s common for home sellers to make big, sweeping improvements on their homes right before they sell. But while it’s true that buyers may prefer a kitchen with stainless steel appliances and granite countertops, you won’t recoup the cost of that major upgrade when selling.

If you’re hoping to sell in the next year, it’s best to put your money towards small changes that have a big impact. Here are the six best DIY tips to prep your home before selling.

  1. PRETEND TO BE A BUYER AND PULL UP TO YOUR HOUSE: Imagine you’re seeing your home for the first time. Make sure it looks clean and inviting by clearing the sidewalks, and trimming or updating the landscaping.
  2. POWER-WASH THE EXTERIOR: Instead of repainting your home, try power-washing it to freshen the exterior. Paint the trim (preferably white) to give it an extra pop.
  3. PAINT ONLY WHAT’S NEEDED INSIDE: Try to avoid repainting every room, if you can. Focus on touching up the areas with scuffs or holes from previous wall hangings.
  4. WASH YOUR WINDOWS: Buyers “love” light and there’s no easier way to add light to a room than to make sure the windows are clean. Be sure to wash both inside and outside, and consider hiring a professional if you have hard to reach windows.
  5. QUICK KITCHEN UPDATES: Buyers love an updated kitchen, but it’s not worth your money to gut the whole thing. If you have old wooden cabinets, consider painting them white, and adding new hardware and a chic back-splash. If your lighting fixtures scream mid-90’s, replace them with inexpensive modern versions.
  6. THE GARAGE IS NOT A DUMPING ZONE: The last thing you want potential buyers to think is that you don’t have enough storage in your home. If need be, rent a storage unit for any furniture or boxes that don’t fit easily in your home and garage. Buyers may need a certain number of garage spaces for their vehicles or even a boat, so it’s important they see each stall ready for use.

PLUS: WHAT’S NOT WORTH FIXING? Unless your’e planning to stay in your home for a few years, don’t bother with an addition or attic upgrade, home office revamp, swimming pool, or full kitchen remodel. These projects will cost more than they’ll earn you back upon resale.

Thinking of selling soon? Give Mike Conroy a call to talk about local market conditions and what’s going on in the Greater Burlington Area 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.

Three Reasons You Should Hire an Agent

The rate of For Sale By Owner (FSBO) homes has been decreasing steadily for the last decade. In 2016, FSBOs accounted for just 8% of home sales.

Why do 87% of home sellers use an agent to sell their home?
Today’s buyers are web-savvy, and expect homes to be marketed on national home search sites that FSBO sellers often forget about. Agents can also help with negotiation and to streamline the closing paperwork. Plus, sellers who use an agent usually make more on their home sale, even after paying an agent’s commission.

But don’t take our word for it — there are plenty of stats showing that hiring an agent is the smart choice. Check out these facts about hiring an agent vs. selling your home FSBO.

Thinking of selling soon? Give Mike Conroy a call to talk about local market conditions and what’s going on in the Greater Burlington Area 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.