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

September Real Estate Update

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

“Every market is unique, yet the national sentiment has given rise to the notion that housing markets are stalling. Although desirous buyers are out on an increasing number of showings, there remains a limited number of desirable listings. And although mortgage rates have remained enticingly low, home prices have reached unaffordable levels for many new entrants into the housing pool at exactly the same time that established owners are proving to be less interested in moving.

  • New Listings were up 2.9 percent for Single-Family homes and 28.1 percent for Townhouse-Condo properties
  • Pending Sales decreased 2.2 percent for Single- Family homes but increased 29.6 percent for Townhouse-Condo properties.
  • Median Sales Price was up 4.8 percent to $272,500 for Single-Family homes but decreased 13.6 percent to $199,500 for Townhouse-Condo propertiesMonths Supply of Inventory decreased 15.2 percent for Single- Family units and 20.5 percent for Townhouse-Condo units.

Last year at this time, the national storyline was about how high demand was propping up sales and prices despite low inventory and months of supply. That has actually continued to be a familiar refrain for many months in 2017 and now for the past couple of years. But with the likes of Hurricanes Harvey and Irma, different employment outlooks, disparate incomes, varying new construction expectations and potential housing policy shifts, regional differences are becoming more prevalent and pronounced.”

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.

 

Our Vermont Real Estate Update – August 2017

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

  • New Listings were down 3.7 percent for Single Family homes and decreased 18.5 percent for Townhouse-Condo properties.
  • Pending Sales increased 16.1 percent for Single Family homes but decreased 1.5 percent for Townhouse-Condo properties.
  • The median sales price was up 10.7 percent to $292,500 for Single Family homes and 4.6 percent to $224,950 for townhouse-condo properties.
  • Closed sales increased 3.3 percent for Single Family properties and decreased 12.3 percent for townhouse- condo properties.
  • Average days on market decreased 28.3 percent or 81 days for Single Family homes and decreased 23.7 percent or 71 days for the townhouse-condo market.
    Month’s supply of inventory decreased 20 percent, or 5.6 months for Single Family units and decreased 20.0 percent, or 3.2 months for townhouse-condo units.

Chittenden County: We’re finishing up the end of the summer heat wave here – and yesterday was the last day of 90 degrees. So by the time you see this it should be back down to normal fall weather. We’re happy to report that August real estate results were as hot as it’s been since the spring season started. New Listings are even with last year for the month of August, and we’re down by around 100 listings for the year in Chittenden County. However, there has still been a total of around 1,200 listings for buyers to choose from. There has been a lot of talk about low inventory, and that is true in some categories but overall Chittenden County has had a reasonable year so far for buyers.

On the Pending side, August was an awesome month. Properties going under contract were up 16% compared to last August and that’s continuing a trend that we’ve seen for months now. It was a slow winter last year because of the snow, and we’ve been picking up the slack since then. For the year, we’re almost even with last year.

Finally, Pending Sales turn into closings, and for the month of August, we’ve continued the trend that we’ve seen for three months in a row and we’re up 3% in August, however we’re still down about 2% for the year. Regardless, we think September and October’s closings are going to be strong and we will probably finish the year up 1% compared to last year. It has been a good solid year, and the fact that there’s been a little less inventory has been helping pricing stay ahead of last year about 5%.

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

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

Our Vermont Real Estate Update – June 2017

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

  • New Listings were down 7.2 percent in June for Single Family homes and decreased 1.2 percent for Townhouse-Condo properties.
  • The median sales price was up 5.2 percent to $289,950 for Single Family homes but decreased 5.3 percent to $213,000 for townhouse-condo properties.
  • June’s Closed sales increased 1.3 percent for Single Family properties and decreased 7.6 percent for townhouse-condo properties.
  • Average days on market decreased 40.7 percent or 73 days for Single Family homes and decreased 56.6 percent or 49 days for the townhouse-condo market.
  • Month’s supply of inventory decreased 15.5 percent, to 6.0 months for Single Family units and decreased 18.9 percent, to 3.0 months for townhouse-condo units.

Our takeaway for the first half of the year in Chittenden County is the market is “steady as she goes”. So far this year, sales are down 6%, inventory is reduced by 3%, but prices are up 2% compared to last year.  Slow and steady like Vermont has normally been. The market is healthy – sales and inventory are off a little, but pricing is up a little –  it is a fairly steady market.

Three main things that contribute to this market are:

  1. Unemployment continues to be low in Vermont – the economy is stable.
  2. We don’t have the big increases or drops in our population growth – no drivers up or down.
  3. Our interest rates continue to be low. Affordability continues to be solid with average monthly payments pretty comparable to last year’s numbers.

If we got more inventory on the market (I’m seeing that happening now), we could probably see sale close to last year’s level by the end of the year, and I suspect that’s where we’ll end up.

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

May 2017 Market Statistics

The Northwestern Vermont Board of Realtors (NVBR) has released its market statistics for May 2017. The information is collected directly from the New England Real Estate Network and covers Chittenden, Franklin and Grand Isle Counties.

What we’re seeing is inventory is still very tight and it hurt closings. Compared to last year, New Listings were up 24.9% for Single-Family homes, but decreased by 9.5% for Townhouse-Condo properties. The month’s supply of inventory decreased 18.3% for Single Family units and decreased 16.7% for Townhouse-Condo units. Closed Sales decreased by 4.4% for Single-Family properties and decreased by 9.8% for Townhouse-Condo units.

The good news is we’ll see more and more Pending Sales and Closed Sales. It may be that sellers have decided to finally put their homes on the market. Pending Sales are up 9.5% for Single-Family homes and 13.7 percent for Townhouse-Condos units, which bodes well for the summer months.

Read NVBR’s full monthly Market Statistics here.

Contact Mike Conroy with any questions about buying and selling real estate 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.

Market Update for Northwestern Vermont

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We’ve said it before…and we will say it again. Real Estate is about Life. If you want to know what is going on in your state, town, or even in your neighborhood look to see what is going on in the Real Estate Market. If you know what to look for there are great insights to be gained. This page will always contain the most up to date stats for Northwestern Vermont.  You can come back again and again As always should you ever have any Real Estate related questions feel free to give us a call 802.863.9100. We’re here to help!

March 2015

February 2015 

January 2015

December 2014

November 2014

October 2014

September 2014

August 2014

July 2014

June 2014

May 2014

April 2014

Chittenden County VT: 2014 Real Estate Wrap-up

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Mike Conroy: Broker/Founder

2014 final thoughts…

“How you see your future is much more important than what has happened in the past.”- Zig Ziglar.

And here we are with one month of the New Year almost behind us and time to look ahead. Our January Real Estate newsletter highlights stats from the year gone by, not so we can dwell on last year’s results but rather so we can use them as a guide to what’s next.

I’ve always liked to look at what’s ahead – I’m an optimist at this time of the year and usually see a future with loads of promise. This year is no exception. Let’s start the year with a few of my predictions for 2015 in Vermont real estate:

  • Interest rates will stay essentially the same – very close to 4%.
  • The new FHA and PMI banking rules will help more first time buyers – buy!
  • The collective sigh of relief about IBM and Global Foundries – will continue- and bring many buyers and sellers back that were waiting for last year’s announcement.
  • Multiple offers will become more commonplace up to the $300’s.
  • Pricing will creep up, a little – say 3%.
  • Rental property will stay hot!

In our local daily paper, there’s a columnist that frequently sees some doom and gloom in Vermont’s economic statistics – I like him and his charts and graphs though as it’s always thought provoking. My take for the upcoming year – if you’re thinking of making a real estate move – this year will be a very good time to do it!

And if we can offer guidance expertise along the way – we’ll look forward to it!

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Click HERE to see the NVBR 2014 Year-End Market Statistics

Click for 2014 monthly break down by town 

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