Archive for the 'Vermont Market Conditions' Category

Vermont Real Estate Prices downward trend in the last 3 years in Vermont – According to the latest information pulled from the Northern New England Real Estate Network, there has been a decline in median prices of homes in the State of Vermont since 2007.

In 2007, the average list price of a home was $310,991 and the average sales price was $297,270 in the state at that time. In 2008, those averages declined to $289,322 list price to an average sales price of $273, 948. If we fast forward to this past year, we are showing an average list price for the state of $267,717 to an average sales price of $252,156.

All in all, our prices have been affected by the recession and Vermonters have felt the pain of the economy on the sales of their homes like many across the country; although not as bad as some of the other states. The good news is that the local Vermont real estate economy seems to be doing better than most of the other parts of the state and we are encouraged about the future. If you would like to know the value of your home, please let us know. Begin your Vermont MLS home search now.

The Vermont Real Estate Market is slowly unfreezing in the Chittenden County area and the activity has certainly picked up. There are true signs that we are making a run at improvement from 2009 which was one of our toughest years. Recent statistics from our MLS indicate that overall sales in Chittenden County are up by 27.87%. Currently we are working with large numbers of individuals looking to increase the size of their homes, as well as people looking to downsize and invest in our local Burlington real estate market. We are very optimistic and are looking to make it a banner year and beat the odds like we did this past year. If you know of anyone thinking about buying or selling, contact us and we can customize a plan for them whether it is buying or selling. As one of the top offices in the State of Vermont for Century 21 companies, we have the technology and know how to help your transaction be as smooth as possible.

The Vermont Real Estate Market conditions showed a slight decrease from last year, while CENTURY 21 Advantage sales increased by 12%; which was a positive step forward for our company after a trying 2009. Homes sold in Vermont by dollar volume is showing a slight increase from the previous year. Consumer confidence in our area seems to be much higher than the last two previous years and this year has started out much busier than last year at this time. We sold homes in 37 different towns and cities last year, but still concentrate mostly in Chittenden County Real Estate, Franklin County Real Estate and Grand Isle Real Estate. Our top selling towns were South Burlington followed by Essex, and then Burlington. A lot of our business comes from past client referrals which means that we are providing the service that people enjoy and expect. If we can help you with your real estate needs or someone you know, drop us a line. We would love to help.

Looking ahead to the New Year is an exciting, yet thought-provoking exercise for the real estate market. Everyone is wondering how things look for us in the near future. Taking a quick snapshot of this last month (December) of 2009 to December of 2010, for all of Vermont, we see a few things that are telling according to information obtained from the Northern New England Real Estate Network. First of all, new residential listings were down this year from last year for the month by almost 14 %. That is good news for sellers having less competition on the market. Sales for the month were up 13% for the same category. A great step in the right direction for sure. For the condominium market in all counties listings for December were again down, but by only 2.27%. Sold listings were down 28% which may prove that more people are taking advantage of the low interest rates to acquire single family homes. All in all, it may not be such a horrible outlook. We will be looking at the entire year for a complete analysis in a few weeks. Stay tuned and we will let you know how the market faired in 2010 compared to 2009. I know for a fact, that my business was way up.

 All indications are that consumer confidence is up in Burlington, Vermont and the real estate market is more active this year than last year during the same time period. More people are thinking of making a move which will increase the inventory and buyer options on the market.

The interest rates are still extremely low and the Federal Government is still offering tax credits for those individuals that qualify and make the move in the required time frame. Don’t get left behind wishing you had done something a few months from now. Drop me a line and I can help you through the process. Contact me Brian at Brian@c21-advantage.com and I can help you with your real estate move.

View what’s on the market in Burlington, Vermont.