Market Update – February 2017

The Northwestern Vermont Board of REALTORS® (NVBR) has released its market statistics for February 2017. The information is derived from data contained in the New England Real Estate Network and covers Chittenden, Franklin and Grand Isle Counties.

– New Listings were down 11.7percent for Single Family homes but increased 5.7 percent for Townhouse-Condo properties.
– Pending Sales increased 2.3 percent for Single Family homes but decreased 14.1 percent for Townhouse-Condo properties.
– The median sales price was up 5.9 percent to $248,500 for Single Family homes and increased 58.9 percent to $290,000 for townhouse-condo properties.
– Closed sales decreased 22.9 percent for Single Family properties and decreased 11.5 percent for townhouse- condo properties.
Average days on market decreased 47.6 percent or 89 days for Single Family homes and decreased 25.5 percent or 135 days for the townhouse-condo market.
– Month’s supply of inventory decreased 27.3 percent, or 4.8 months for Single Family units and decreased 12.5 percent, or 2.8 months for townhouse-condo units.

“Demand definitely remains strong in our area, contributing to the continued rise in sales prices”, said Kathleen Sweeten, CEO of the Northwestern Vermont Board of Realtors®.