So, How's the Market?
February 2020
Photo by Kevin Wiegand
The spring market is actually starting to begin! Typically we see an increase in buyer and seller activity beginning in February as a runway to the busier spring and summer seasons.
| # Sales Past 12 Months | Median Sale Price | Median Days on Market | |
| Barre City | 90 | $148,450 | 33 |
| Barre Town | 91 | $195,000 | 36 |
| Montpelier | 75 | $256,000 | 19 |
| U32 | 85 | $270,000 | 46 |
| Northfield/Williamstown | 84 | $176,250 | 39 |
We can see that houses in Central Vermont continue to sell relatively quickly. But...I always take these numbers with a grain of salt. They show the results from the properties that have actually sold. The other side of the story is those properties that haven’t sold yet. They’ll become data points, they just haven’t yet.
Here’s the grain of salt:
| Active Listings | Median List Price | Median Days on the Market | |
| Barre City | 27 | $139,000 | 84 |
| Barre Town | 23 | $234,500 | 142 |
| Montpelier | 10 | $304,500 | 10 |
| U32 | 27 | $339,000 | 160 |
| Northfield/Williamstown | 24 | $201,000 | 115 |
The properties that are for sale right now have substantially longer days on market than those that have sold in the past 12 months. I don’t have any grand conclusions to draw from this. I do have a couple observations. Some of the active listings are “unique”, which sometimes causes them to take longer to sell.
Also, being honest, some of the listings that have been on the market the longest are listed with brokerages from outside of the area. For example, in Barre Town, three of the four listings that have been on the market the longest are with firms from outside Barre/Montpelier. Local knowledge and local expertise goes a long way.
New Curveball for Transactions:
Oil tanks need to be inspected at least every three years. We’re now advising our selling clients to go ahead and get those inspections done, so there are no problems with the sale, or with delivery after the sale. We’re also advising our buyer clients to make sure the tanks are inspected as part of the due diligence process. Your local oil provider will be able to do the inspection for you.
And Speaking of Local…
Green Light Real Estate is embarking on a local restaurant tour/review campaign. We started by getting the crew together at Ladder One Grill in Barre. Situated in an old fire house, the restaurant is an attractive mix of firefighting mementos and twinkling lights. It’s our way of getting out and supporting local businesses, as well as having a good time together as a team.
Of course, we also had a drawing for a gift card. Next up on our review is Cornerstone in Barre-- Follow us out on Facebook and Instagram to see how you can win next time!
The Best Time Is Now!
If this spring or summer is the time for you to buy or sell a house, do yourself a HUGE favor, and talk to a real estate professional soon. The listing experts and buyer specialists at Green Light Real Estate can help you make a plan and prepare for success. Nothing’s more frustrating than losing out on your dream home because you weren’t prepared. And nothing’s more aggravating than putting a house on the market without a clear, well-thought plan on how you’re going to sell it. Don’t be those people. Be prepared. Call, text, or email Green Light Real Estate.
Have a great February folks, spring is around the corner! Right?
In the meantime, call 802-224-6425 or email us to buy, sell or chat real estate!
Is your curiosity about the local real estate market still not satisfied? Follow us on Facebook, Instagram or check out our listings on www.GreenLight-RealEstate.com