Coldwell Banker Hickok & Boardman Realty's Spring 2014 Real Estate Market Report for Northwest Vermont discusses Tips & Trends to guide you through the spring market. Want to know the level of housing inventory in your town before you list your home? Are sale prices decreasing or increasing in your neighborhood? National statistics on real estate won't help you nearly as much as knowing your local market conditions. Read on to find out current market trends in your town. Contact me today with questions on your LOCAL real estate market!
This report provides detailed real estate market information on Chittenden, Franklin, Grand Isle and Addison counties. Also find town-specific information on Burlington, South Burlington, Milton, Colchester & Winooski. As well as market information specific to the following School Districts: Chittenden South, Chittenden Central & Chittenden East. Having up-to-date information on current real estate market conditions in your area can help you both as a Buyer and a Seller! If you have any questions about this report or want to talk about a specific property or locale, please contact me today!
*All statistical information below is a comparison of the first quarter of 2014 to the first quarter of 2013.*
BURLINGTON VT REAL ESTATE MARKET REPORT
While the city's median sale price jumped 16.4% to $287,500 in the first quarter, the number of transactions slipped 17% at 34 sales. New listings are down 12% and the lack of inventory, while inhibiting overall sales numbers, may be pushing up prices on those homes that did sell in the first quarter. View Burlington VT Homes for sale here!
SOUTH BURLINGTON VT REAL ESTATE MARKET REPORT
South Burlington is witnessing a resurgence in buyer demand, thanks to its broad range of housing stock, and its many employers. Residential transactions rose by over 90% at 67 sales in the first quarter. Although new inventory in South Burlington also suffered (down by about 18%), the median sale price increased by 6% to $225,000. Condominium sales, however, saw a decrease in media sale price of 9.4% to $179,500 View South Burlington VT Homes for sale here!
LUXURY REAL ESTATE MARKET REPORT
This real estate report also provides insight on the Luxury Market.
Waterfront properties remained popular with high-end buyers in the last 12 months with seven of the past year's eight properties located on Lake Champlain. The median sale price held steady at $1.42 million. Inventory of luxury homes priced over $1 million has remained stable. Given that luxury homes require more time to market than lower-priced properties, and there are fewer buyers in that price range, such homes often require more than a year on the market before selling.
The complete report is currently available online only at www.VermontMarketReport.com.