Coldwell Banker Hickok & Boardman Realty’s new Summer 2013 Vermont Market Report finds the residential property market in Northwest Vermont strengthened through early May 2013.
The number of sold properties – including single-family homes, condominiums and mobile homes – across the region jumped 10.1%, while the median residential sale price rose 4.5% to $229,650. The report tracks residential sales for Chittenden, Franklin, Grand Isle and Addison counties.
“Nationally, there have been 10 consecutive months of gains in the housing market, a trend that’s echoed in our local market as well,” states Leslee MacKenzie, President of Coldwell Banker Hickok & Boardman Realty. “Needed inventory levels for residential properties have improved slightly with new listings taken in May up nearly 12% over April,” says MacKenzie. With a sale to list price ratio over 97% and days on market continuing to drop, MacKenzie notes the market is showing signs of settling into a solid seller’s market. Favorable factors including low interest rates, low unemployment rate, booming stock market, and strengthening consumer confidence are contributing to both the strength in the local and national real estate markets.
The Coldwell Banker Hickok & Boardman Realty Northwest Vermont Market Report provides a look into the region’s thriving multi-family property market, luxury real estate market, an analysis by County, and for Chittenden County – a breakdown by school district. For the complete report go to www.VermontMarketReport.com
Chittenden County
Continuing last year’s stronger demand, Chittenden County witnessed a 5.9% jump in the number of residential sales from January through early May. The highest priced real estate was found in the Chittenden South school district – which includes Shelburne and Charlotte — where the median sale price rose 2.3% to $327,500. For the Chittenden County Report click here http://www.hickokandboardman.com/vermont-market-report/chittenden.html
Franklin County
The property market picked up sharply for Franklin County, helped by buyers interested in finding more space and land for their money and for the county’s easy access to Greater Burlington. The number of residential transactions for January through early May jumped by one-third when compared with a year earlier, while the median sale price rose 8% to $189,900. For the Franklin County Report click here http://www.hickokandboardman.com/vermont-market-report/franklin.html
Grand Isle
The smallest residential market among Northern Vermont’s counties, Grand Isle witnessed just 25 sales during the first four months of 2013. While that represented a decline of 13.8% from a year ago, the county’s limited number of transactions means only a few sales can influence its overall trends. For the Grand Isle Report click here http://www.hickokandboardman.com/vermont-market-report/grandisle.html
Addison County
Addison County, known for classic Vermont towns such as Vergennes, witnessed stronger demand from buyers. The number of property sales rose by 11.6%, and the median sale price jumped 24% to $227,000. The county’s rural quality appealed to some buyers who relocated from out-of-state, or who returned because of ties to the state. For the Addison County report click here http://www.hickokandboardman.com/vermont-market-report/addison.html
Burlington, Vermont – June 4, 2013 – Coldwell Banker Hickok & Boardman Realty
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