The Northwestern Vermont Board of REALTORS® (NVBR) has released its real estate market statistics for January 2016. The information is derived from data contained in the Northern New England Real Estate Network and covers Chittenden, Franklin and Grand Isle Counties.
Changes seen from last year at this time include:
New Listings were up 3.7 percent for Single Family homes but decreased 20.4 percent for Townhouse-Condo properties.
Pending Sales increased 3.9 percent for Single Family homes and 22.6 percent for Townhouse-Condo properties.
The median sales price was down .04 percent to $243,984 for Single Family homes but increased 21.8 percent to $225,000 for townhouse-condo properties.
Closed sales increased 25.9 percent for Single Family properties and increased 50.0 percent for townhouse- condo properties.
Average days on market dropped 15.4% to 115 days for Single Family homes and dropped 12.9% to 88 days for the townhouse-condo market.
Month’s supply of inventory decreased 26.7%, or 6.6 months, for Single Family units and decreased 19.6 percent, or 3.7 months for townhouse-condo units.
“2016 is starting off where 2015 ended in our market area,” said Kathleen Sweeten, CEO of the Northwestern Vermont Board of Realtors®. “Projections for the upcoming year are optimistic.” According to the National Association of Realtors® the median price is expected to increase around 5%.