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

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