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 – 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

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.

Pinnacle At Spear Street, South Burlington for sale

Our newest listing in South Burlington is a beauty!  Just off Spear Street with peeks at Lake Champlain, this home offers so many options for today’s home owning needs, you will truly be amazed, and prone to dreaming!  Need an in home office – or two – check.  Someplace private yet integrated for the in-laws or extended family – check.  How about an au pair suite, or maybe an international student living/sleeping quarters – check.  Entertaining space on the first, second and lower levels – yes!  Chef’s kitchen with a grand dining room framed with tray ceilings above and cherry flooring below – of course.  4 bedrooms includes the Master suite on the first floor with views and access to the rear deck and its southern light, and on and on………..

Truly, there is too much to write about.  We invite your to click on any photo below and take our Matterport 3 D virtual tour and click your way through every little detail you want, or let the YouTube version do the exploring for you!  The contact us for a showing and see for yourself.  A remarkable, intimate and warm and oversized contemporary in South Burlington.

And click right here to get the MLS data!

 

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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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Who Doesn't Love The Tiny House?

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‘Twas a busy Holiday weekend for us, and we hope for you as well.  In between some turkey sandwiches, family time and a football game or two, I still had time to read some fun real estate news.

Came across this ‘Tiny House’ story and link, for a 220 square foot designed Tiny House, by the folks at Yestermorrow. The home is actually in western Massachusetts now, and I’d love to see it someday.  Check it out and marvel at how living can be ‘rethought’ in such a small space.

Might offer a thought shift on your part for your current home, or your next place!  And if you’d like to build one up here in our neighborhood – let’s talk about how to get it done.  Love to participate with you to make it happen!

Our Brand New Listing won't last long in the HOT South Burlington Home Market!!!

 

32 Floral

Exceptional home in a fantastic location! Convenient to Burlington, shopping, the hospital and airport. Plenty of space to roam inside and out. This cape offers mountain views, lovely green common areas, custom shed under deck, beautiful landscaping, easy access to x-country trails & bike path to the lake front. Inside you’ll enjoy the awesome finished basement with media room, craft area and exercise room. The Chef’s kitchen features granite counter-tops,convection oven, glass tile back-splash, & stainless steel appliances. Sought after first floor master suite and first floor laundry makes for easy one story living.Complete property details and pics HERE

Northern Vermont Real Estate Market Trends

Below are links to our real estate market trends section of our website. At these various pages divided by town, you can get up to minute information on the current real estate market trends such as a markert snap shot, average prices for homes, most popular homes that have been viewed, and the average price of a home based on bedrooms.

Burlington, VT
Charlotte, VT
Colchester, VT
Essex Junction, VT
Jericho, VT
Richmond, VT
Shelburne, VT
South Burlington, VT
Underhill, VT
Williston, VT