The Northwestern Vermont Board of REALTORS® (NVBR) has released its real estate market statistics for August 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 but increased 28.4 percent for Townhouse-Condo properties. – Pending Sales decreased 3.6 percent for Single Family homes but increased 1.8 percent for Townhouse-Condo properties. – The median sales price was down 2.8 percent to $257,000 for Single Family homes but increased 15.8 percent to $220,000 for townhouse-condo properties. – Closed sales increased 7.1 percent for Single Family properties but decreased 16.7 percent for townhouse-condo properties. – Average days on market decreased 10.7 percent or 75 days for Single Family homes and decreased 30.4 percent or 55 days for the townhouse-condo market. – Month’s supply of inventory decreased 23.8 percent, or 8.0 months for Single Family units and decreased 16.7 percent, or 4.5 months for townhouse-condo units.
“Tight inventory continues to be a concern in our area”, said Kathleen Sweeten, CEO of the Northwestern Vermont Board of Realtors®. “Demand continues to be strong, especially in Chittenden County which signals that the market should see a healthy trend as we head into the end of the year.”