Our mobile site is optimized for smaller screens.

TRY IT NO THANKS

      Waterbury Vermont real estate market

      Market Slice! What's Happening in the Upper End of the Central Vermont real estate market?

      Central Vermont Real Estate Market--Upper End of the Market

      When people talk about home sales, and sale prices in the Central Vermont real estate market, they tend to talk about average or median homes. And that’s fine, because averages tell a story.

       

      In today’s post, I want to go a little deeper about the higher end of this market. What are we seeing as buyer and seller trends for higher end homes for sale in Central Vermont? And, in general, what’s happening in this upper end of the market?

       

      Since it’s my post, I get to pick the rules.

       

      And I get to define the terms.

       

      Let’s call the higher end of any market the top 10% of sales. That makes more sense than a dollar figure that cuts across towns. Because the truth is that there a lot of people who want really nice, upscale homes, and they want them in particular towns. 

      Want to know more about what's happening in the upper ranges of the Central Vermont real estate market? Click here to send a quick email.

       

      Here’s how that’s going to break down in this area, and statewide:

       

      Town

      Price for top 10%

      Average Price in Upper Range

      Montpelier

      $443,000--$630,000

      $500,937

      Barre Town

      $310,000--$487,500

      $367,233

      U32 Towns (Middlesex, Berlin, Calais, East Montpelier, Worcester)

      $345,000-$1,362.500

      $523,120

      Barre City

      $182,000---$230,000

      $198,500

      Northfield, Williamstown, Roxbury

      $332,500-$930,000

      $453,812

      Harwood Towns (Waterbury, Duxbury, Fayston, Moretown, Waitsfield, Warren)

      $480,000-$1,000,000

      $701,125


      In the table, the middle column represents the top 10% of sale prices in the different markets. The range is the actual sale prices of those top 10%.
       

      At the top end of all of these markets, buyers are expecting updated, finished homes, and no loose ends. That means higher end and contemporary kitchens with more expensive materials (quartz or granite countertops, not tile or laminate) It means matching, newer appliances, preferably stainless steel.

       

      Click here to send a quick email to us here at Green Light Real Estate. We're completely comfortable answering specific questions and general questions.

       

      At top price points, buyers are looking for updated bathrooms as well, with tile or stone showers.

       

      They expect to see large bedrooms with walk-in closets and en suite bathrooms.

       

      And none of this is really surprising.

       

      With the exception of upper end homes that sold in Montpelier, most of these high end properties have land, views, or in many cases, both. In Montpelier the source of the value is in location within the town and the overall  level of finish.

       

      But as a seller, if you want to attract the high end buyers, and you want to appeal to them, and you want to get the best price you can when you sell your home, your goal really has to be “perfect”.

       

      You may have to spend some money to make some money. If you’re selling a high end Central Vermont home, you already know that.

       

      At Green Light Real Estate, our upper end buyer and seller clients appreciate that kind of honesty and transparency. When you’re ready to buy or sell a higher end property in Barre, Montpelier, Northfield, or the surrounding communities, just give us a call.

       

      For more information about the upper end of the Central Vermont real estate market, click here to send us a quick email.

       

      2015 Real Estate--Year in Review Montpelier, Barre, Northfield, Waterbury Vermont

      • By
      • Posted

      2015 Real Estate Year in Review

      Montpelier, Barre, U32, Waterbury, Northfield


      Number of Sales

      Looking at the table below, it’s pretty darn easy to see the clear overall increase in number of sales. Every town in the survey had increases from 2014 to 2015. Some towns (Barre City) had smaller increases, and other towns (holy cow--Waterbury!!) had big increases.



       

      2015

      2014

      2013

      Barre City

      76

      71

      56

      Barre Town

      99

      81

      68

      Montpelier

      64

      49

      49

      U32

      48

      37

      46

      Northfield

      46

      33

      34

      Waterbury

      63

      34

      37

      Total

      396

      305

      290




      Selling? Looking for advice on getting your house ready for sale? Call, text or email. All our advice is FREE!

      Average Sale Price

      The average sale prices have been more of a mixed bag, with the majority of towns posting small decreases. Barre City is on a two year slide, but that’s not going to last long. The number of sales will bolster those prices soon enough!



      Taken as an average across the market, prices are remarkably stable. Weighted average sale prices inched up from $203,000 to $205,000. Nothing terribly exciting, although we would generally like to see a little more appreciation.



      This Year and Next Year

      We’re proud of how many buyers and sellers trusted us to do the job this year.  In 2015, Green Light Real Estate had 72 sales, and sold just over $14 million in real estate. That’s a lot of property, and with everyone here already hitting the ground running early in 2016, we expect both of those numbers to increase substantially this year.



       

      Days on the Market

      One metric that’s informative is the Days on the Market (DOM). In four of the six market towns in this report, the days on the market went down. That means that houses sold faster in 2015 than in previous years.




      Unfortunately, the stories we’ve heard about houses in other parts of the country selling in one or two days just don’t happen here very often. Over the past three years in Central Vermont, it’s taken, on average, almost four months for a house to sell.


      Buying? Ask us about a FREE comprehensive market overview. We’ll help with the inventory, the process, the numbers, the whole thing!

      Sales by Month

      This is one of the most interesting stories. Over the past three years, there appears to be a pretty clear trend. Sales start increasing rapidly in April and May, then they dip a bit, and then spike again in August. The highest numbers of sales have been in August.



      That’s interesting to us here at Green Light Real Estate, especially in thinking about what that means. Those April sales are from contracts that were signed in February. And those February buyers were looking in January and February. So, many of those “spring buyers” that we hear about are actually winter buyers!


      If you have questions, or if there’s anything that we can help with, call, email, or text.


      Check us out on Facebook, visit our website, read customer reviews on Zillow and Trulia, or stop by our office on State Street in Montpelier. And, if you’re thinking of buying or selling, keep us in mind!


      Ray Mikus, Broker/Owner

      Brian Steinmetz, Realtor

      Marina Carleton, Realtor

      Maria Lamberti, Administrative Assistant