Blog :: 01-2020

2019 End of Year Report

2019 End of Year Report

 

For this end of year report, the main focus is on changes over the past five years. And the trend is strong!

Sale prices in Barre City increased by over 20%, U32 towns saw appreciation of almost 18%, and every market saw stronger sale prices. Our market as a whole saw price appreciation of 12.24% over five years. 

 

While this isn’t the blazing hot increases that many major metropolitan areas have seen, it’s solid, steady price appreciation.

 

  2015 2016 2017 2018 2019

% Change

2015-2019

Barre City

 $115,051   $142,500   $131,500   $142,000   $146,250  21.33%
Barre Town  $186,000   $168,000   $195,000   $199,000   $194,000  4.12%
Montpelier  $225,000   $212,000   $237,000   $245,000   $256,000  12.11%
U32  $215,000   $231,750   $221,125   $255,000   $261,500  17.78%
 Nfld/Wlmstwn   $159,000   $169,000   $161,500   $199,000   $178,750  11.05%
Total  $172,000   $175,000   $185,000   $197,500   $196,000  12.24%

 


Again, we have seen largely consistent increases in the number of home sales over the past five years. The five U32 towns (Berlin, Calais, East Montpelier, Middlesex, and Worcester) saw the number of sales grow over 30%, while Northfield/Williamstown grew by just under 30%. These are strong sets of numbers for home sales!

Barre Town did see a dip the number of sales over the past five years. Also interestingly about the Barre Town real estate market is that it is the only one that has seen somewhat erratic numbers of annual sales. At Green Light Real Estate, we’re not concerned about this at all, there were still 86 sales in Barre Town in 2019.

 

  2015 2016 2017 2018 2019

% Change

2015-2019

Barre City

83 89 90 89 88 6.02%
Barre Town 102 79 109 89 86 -15.69%
Montpelier 78 87 94 73 73 -6.41%
U32 71 76 84 83 94 32.39%
Nfld/Wlmstwan 68 61 68 77 88 29.41%
Total 402 392 445 411 429 6.72%

 


This one blew our minds. Our Central Vermont market, on the whole, has seen a decrease of 38% in the median days on the market. That means sales are speeding up from 63 days on market in 2015 to 39 days on the market in 2019. And look at Montpelier--median days on market was 10 days!?

  2015 2016 2017 2018 2019

% Change

2015-2019

Barre City

86 88 67 42 44 -48.84%
Barre Town 59 49 75 29 41 -30.51%
Montpelier 54 43 35 40 10 -34.29%
U32 70 68 49 60 46 -34.29%
Nfld/Wlmstwn 78 66 54 45 35 -55.13%
Total 63 60 55 43 39 -38.10%

 

All of these point to a very strong, fast moving real estate market in Central Vermont!

 

 

Green Light Real Estate Book Club

 

 

We spend a LOT of time thinking and talking about real estate and about customer service. In 2019, we added something else. During the year, as a group, we read and discussed several books. It turned out to be a fantastic way to bring us closer together, to improve our practices, and allow us to better serve our clients.

 

They included:

  • The Customer Rules: The 39 Essential Rules for Delivering Sensational Customer Service, by Lee Cockerell
  • Rich Dad, Poor Dad, by Robert Kiyosaki
  • Who Moved My Cheese, by Spencer Johnson
  • 7L: The Seven Levels of Communication, by Michael Maher

 

 

Multi-Family Report

2019 was an active year for residential multi-family properties. Here we’ll focus on Barre City and Montpelier, which are the two most active multi-family towns in Central Vermont. And, truth be told, the bulk of the activity is in Barre City.

Here the number that jumps out is the number of sales. It increased steadily from 2015-2018 and then almost doubled from 18 to 35 sales in 2019. That’s a huge increase!

 

Total # of Sales

2015

12
2016 15
2017 18
2018 18
2019 35

 


Looking only at duplex sales, there’s a clear increase in per unit sale price over the past five years.

 

 

 

  Barre City Price Per Unit (Duplex)  Montpelier Price Per Unit (Duplex)
2015 $34,000 $102,500
2016 $66,225 $95,000
2017 $67,750 $124,000
2018 $41,750 $113,375
2019 $52,500 $135,000

 

 


Gratitude

 

And last, thank you to all of our clients, past clients, friends, and supporters. In 2019, Green Light Real Estate helped with 161 sales, and more than half of those came from past clients, people who know us personally, and referrals. It means a lot when people make the effort to recommend that their friends work with Green Light Real Estate!