May Market Report
Photo by Ted Dawson
| Active | Under Contract | Average Sale Price (last 12 mos) | # of Closings last 12 mos | Average Days on Market | |||
|---|---|---|---|---|---|---|---|
| Barre City | 42 | 21 | $137,215 | 88 | 79 | ||
| Barre Town | 29 | 13 |
| 89 | 62 | ||
| Montpelier | 15 | 15 | $263,376 | 72 | 69 | ||
| U32 | 37 | 12 | $238,587 | 83 | 119 | ||
| Northfield/Williamstown | 31 | 11 | $212,905 | 78 | 67 |
| New Listings April 2019 | Sales/12 | Absorption Rate (# mos of inventory) | |
| Barre City | 16 | 7.33 | 5.73 |
| Barre Town | 6 | 7.42 | 3.91 |
| Montpelier | 8 | 6.00 | 2.50 |
| U32 | 11 | 6.92 | 5.35 |
| Northfield/Williamstown | 10 | 6.50 | 4.77 |
Buyers are out there ready to buy, and it would be just lovely if there were a few more homes for sale. Especially in Barre Town and Montpelier. With just 2.5 months of inventory in Montpelier, and under four months of supply in Barre Town, those two are very clearly “sellers’ markets”.
Experts use six months of inventory as the threshold between a buyers’ market and a sellers’ market, which puts all of the Central Vermont markets solidly as sellers’ markets.
Buyers are being successful when they make solid offers, and when they have realistic expectations about inspection items. Even in this market, sellers need to price their homes correctly and be realistic about their home’s condition.
Are you in the market to buy or sell? Get in touch! Call us at (802) 225-6425