Market Update – January 2017

The Northwestern Vermont Board of REALTORS® (NVBR) has released its market statistics for January 2017. The information is derived from data contained in the New England Real Estate Network and covers Chittenden, Franklin and Grand Isle Counties.
Changes for January over last year at this time include:

– New Listings were down 15.1 percent for Single Family homes and 10.0 percent for Townhouse-Condo properties.
– Pending Sales decreased 1.8 percent for Single Family homes and 12.5 percent for Townhouse-Condo properties.
– The median sales price was down 1.4 percent to $246,400 for Single Family homes but increased 16.4 percent to $259,624 for townhouse-condo properties.
– Closed sales increased 0.9 percent for Single Family properties and 2.3 percent for townhouse-condo properties.
– Average days on market decreased 48.5 percent or 86 days for Single Family homes and decreased 35 percent or 93 days for the townhouse-condo market.
– Month’s supply of inventory decreased 29.2 percent, or 4.6 months for Single Family units and decreased 19.4 percent, or 2.9 months for townhouse-condo units.

“Our area of Vermont continues to see slow, steady growth”, said Kathleen Sweeten, CEO of the Northwestern Vermont Board of Realtors®. “Inventory continues to be tight, which is contributing to price increases in each of our three county area”.