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      FEBRUARY NUMBERS FOR MONTPELIER/BARRE/NORTHFIELD/U32 REAL ESTATE MARKET

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      January, by the numbers:

      Active

      New January 2015

      Under Contract

      Sold January 2015

      Sold Last 12 Months

      Barre City

      64

      9

      5

      4

      75

      Barre Town

      46

      6

      8

      3

      84

      Montpelier

      34

      5

      8

      2

      51

      U32

      37

      6

      7

      3

      62

      Northfield

      34

      3

      7

      2

      35

      Totals

      215

      29

      35

      14

      307


       

      Looking just at the total number of houses on the market and the twelve month sales, there is roughly nine months of inventory right now. That might sound like a lot. I mean, come on, nine months of anything sounds like a big supply. But it really isn't. Especially when you notice that every single town had more sales than are active right now. That shows that each town is getting rid of inventory.


       

      Cold Winter? Not In This Real Estate Market: We've had a very busy January! If Vermont winters were supposed to hinder the market, you'd never know it at Green Light Real Estate. The market is coming back to its former glory pre-2008. Comparatively, in January 2013 there were 14 houses that went under contract in the Central Vermont market. In 2014 there were 13. January 2015 saw 22 houses go under contract! At GLRE, we're very excited to assist eager buyers find their dream homes, and to help anxious sellers feel at ease.


      Email GLRE for more details or with questions about anything that's on this market report.

      Sales By Month: And how about this one? We've seen this before, with the most sales happening in May, and then peaking again in September and October. To tell the truth, we just think this is interesting. There's never a month where there are zero sales. And buyers work within time frames that work best for them. Some people want to be in their new house at the beginning of spring, while others are just starting their search then (those are the July-October sales). And those dozen sales in February? Those folks got into contract between Thanksgiving and Christmas. Those are our kind of people!




       

      Average Sale Prices Over the Past Two Years

      Jan13-Jan 14

      Jan 14- Jan 15

      % Change

      Barre City

      $126,886

      $123,162

      -2.93%

      Barre Town

      $190,642

      $175,829

      -7.77%

      Montpelier

      $218,802

      $231,429

      5.77%

      U32

      $219,032

      $244,875

      11.80%

      Northfield

      $157,277

      $169,278

      7.63%

      Average

      $182,528

      $188,915

      3.50%


       

      All signs point to healthy. The Central Vermont market, taken as a whole shows 3.5% price appreciation, although there certainly are some variances between the different towns. Interestingly, 3.5% isn't too far off from historic inflation levels. And there is a school of thought that says that home prices should reflect inflation levels, over the long term. Yeah, I know. We're just a bunch of egg heads here.

      What's trending right now?

      Detailed Inspections: At the suggestion of good, conscientious, and forward thinking Realtors (ahem...), buyers and sellers are getting in front of potential inspection issues. Have a house with old wiring? Well, get an estimate early in the process. Has the furnace or boiler been serviced lately? If not, get that done with the inspection, or even before it. That kind of foresight can speed things up, and make for smoother closings. And everyone likes smoother.


       

      Common Appraisal Stumbling Blocks: Honestly, in this market, we don't see too many problems with houses appraising for the contract price. We can attribute that to professional appraisers, and also with accurate pricing and good negotiation. It takes a village. However, there are a couple common items that get flagged, especially when buyers are making a small down payment. Hand rails, location of well and septic system, and badly deteriorated roofs get called out. Since we're rocket scientists here...let's get those items taken care beforehand. Why not?

      Let us know if you think you want to get ahead of inspection and appraisal concerns. We're always happy to help!
       

      Interesting Decision Making: Oh yes, our old childhood friend the Magic 8 Ball showed up recently during a house search. "Should we buy this house?" was the question. I won't tell you exactly what the afterlife said (is a toy factory an after life??). But I can say that the buyers are happily pursuing a different property. Maybe if they had consulted a Ouija Board...



       

      January's Sales--You know you're curious!

      Town

      Address

      Original List

      Final List

      Final to Original

      Selling Price

      Sale to Final List

      DOM

      Barre City

      7 Palmisano Plaza

      65,500

      $51,500

      79%

      48,500

      94%

      91

      Barre City

      201 Fairview

      110,000

      $62,900

      57%

      62,900

      100%

      291

      Barre City

      53 Hill Street

      100,000

      $100,000

      100%

      95,000

      95%

      579

      Barre City

      15 Division Street

      117,000

      $119,000

      102%

      110,975

      93%

      72

      Barre Town

      18 Cardinal Circle

      149,900

      $149,900

      100%

      145,000

      97%

      65

      Barre Town

      247 Beckley Hill

      169,500

      $169,500

      100%

      155,000

      91%

      58

      Barre Town

      220 Miller Road

      225,000

      $225,000

      100%

      215,000

      96%

      27

      Montpelier

      579 Gallison Hill Road

      80,000

      $80,000

      100%

      50,000

      63%

      236

      Montpelier

      103 Sherwood Drive

      158,900

      $154,900

      97%

      152,000

      98%

      105

      Calais

      416 Gosselin Hill Road

      275,000

      $250,000

      91%

      238,000

      95%

      201

      East Montpelier

      45 Casavant Road

      225,000

      $225,000

      100%

      215,000

      96%

      13

      Worcester

      151 Gould Hill Road

      449,000

      $379,000

      84%

      345,000

      91%

      1285

      Northfield

      98 King Street

      159,000

      $159,000

      100%

      150,000

      94%

      14

      Northfield

      88 Alpine Drive

      390,000

      $229,000

      59%

      229,000

      100%

      894

      Tons More on Facebook: Make sure to check out Green Light Real Estate's facebook page. Sometimes helpful. Sometimes quirky. Always interesting. One of our favorites is the "Strange Houses" link and video. Let's just say that it takes all types...


      As always, if you know someone who's thinking of buying or selling OR if you or someone you know is thinking of a career in real estate, keep Green Light Real Estate in mind.

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