The Northwestern Vermont Board of REALTORS® (NVBR) has released its real estate market statistics for July 2016. The information is derived from data contained in the 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 down 15.4 percent for Single Family homes and 5.0 percent for Townhouse-Condo properties. – Pending Sales increased 4.2 percent for Single Family homes but decreased 21.9 percent for Townhouse-Condo properties. – The median sales price was down 3.0 percent to $263,500 for Single Family homes but increased 3.3 percent to $219,500 for townhouse-condo properties.Closed sales decreased 10.3 percent for Single Family properties but increased 16.1 percent for townhouse-condo properties. – Average days on market increased 6.7 percent or 96 days for Single Family homes and increased 59.6 percent or 75 days for the townhouse-condo market. – Month’s supply of inventory decreased 23.6 percent, or 8.1 months for Single Family units and decreased 25.0 percent, or 4.2 months for townhouse-condo units.
It is anticipated that the healthy trends in both demand and pricing will continue through the remainder of 2016.