The Northwestern Vermont Board of REALTORS® (NVBR) has released its real estate market statistics for February 2016.
Changes seen from last year at this time include:
New Listings were up 32.1 percent for Single Family homes and up 6.7 percent for Townhouse-Condo properties.
Pending Sales increased 10.1 percent for Single Family homes and increased 9.8 percent for Townhouse-Condo properties.
The median sales price up 3.4 percent to $237,250 for Single Family homes but decreased 20.4 percent to $179,000 for townhouse-condo properties.
Closed sales dropped 2.1 percent for Single Family properties and dropped 30.3 percent for townhouse-condo properties.
Average days on market dropped 27.8 percent or 109 days for Single Family homes but increased slightly to 3.9 percent or 106 days for the townhouse-condo market.
Month’s supply of inventory decreased 21.8 percent, or 6.6 months for Single Family units and decreased 20.9 percent, or 3.7 months for townhouse-condo units.
“Inventory continues to be a concern in some areas of our market,” said Kathleen Sweeten, CEO of the Northwestern Vermont Board of Realtors®. “As we approach the start of the selling season we are closely watching for an increase in activity in the coming months.”
The information is derived from data contained in the Northern New England Real Estate Network and covers Chittenden, Franklin and Grand Isle Counties.