The Northwestern Vermont Board of REALTORS® (NVBR) has released its market statistics for March 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 March over last year at this time include:
– New Listings were down 24.3 percent for Single Family homes and 4.4 percent for Townhouse-Condo properties. – Pending Sales increased 1.8 percent for Single Family homes and 10.2 percent for Townhouse-Condo properties. – The median sales price remained flat at $250,000 for Single Family homes but increased 5.9 percent to $220,000 for townhouse-condo properties. – Closed sales decreased 6.6 percent for Single Family properties and decreased 19.6 percent for townhouse-condo properties. – Average days on market decreased 24.6 percent or 107 days for Single Family homes and decreased 3.2 percent or 120 days for the townhouse-condo market. – Month’s supply of inventory decreased 29.4 percent, or 4.8 months for Single Family units and decreased 9.7 percent, or 2.8 months for townhouse-condo units.
“As we end the first quarter of 2017 we continue to see tight inventory levels, especially in the mid-price range of $250,000 to $400,000”, said Kathleen Sweeten, CEO of the Northwestern Vermont Board of Realtors®. “It is anticipated that this trend will continue for a while, as we see a slow, steady growth in sales prices.”