So, How’s the Market?
March 2020
Photo by Kevin Wiegand
We’ve just about made it through another winter, and into another mud season. Congratulations to us all--hearty, brave, unflinching Vermonters!
By the Numbers--Snapshot
| Sales Past 12 Months | Median Sale Price | Median Days on Market | |
| Barre City | 92 | $149,450 | 33 |
| Barre Town | 93 | $191,000 | 41 |
| Montpelier | 72 | $261,500 | 17 |
| U32 | 89 | $269,000 | 46 |
| Nfld/Wmstwn | 88 | $177,550 | 40 |
We’re still seeing a strong market in Central Vermont, that’s kind of old news.
So, with this month’s real estate report, we’re going to look at how these numbers have changed over time.
| Five Year Numbers--Median Sale Price | 3/2015 to 3/2016 | 3/2016 to 3/207 | 3/2017 to 3/2018 | 3/2018 to 3/2019 | 3/2019 to 3/2020 | Total % Change Over 5 Years |
| Barre City | $129,950 | $145,000 | $135,700 | $141,250 | $149,450 | 15.01% |
| Barre Town | $185,000 | $172,000 | $196,100 | $200,515 | $191,000 | 3.24% |
| Montpelier | $216,000 | $210,000 | $245,000 | $245,000 | $261,500 | 21.06% |
| U32 | $211,000 | $247,500 | $226,375 | $269,125 | $269,000 | 27.49% |
| Nfld/Wmstn | $159,500 | $172,370 | $164,950 | $199,000 | $177,550 | 11.32% |
Since 2015, sale prices in Central Vermont have risen substantially. It is interesting that every single market had years of increases and years of decreases. On the whole, though, it’s clear that home prices are going up.
Days on Market
Home sales in Barre City have very steadily sped up, moving from a median days on market of 96 in 2015 to 33 days by March 2020. That’s an incredible change! Also, the bump up in days on market for U32 towns deserved a little more research. If we take out the two properties that took the longest to sell (770 days and 437 days--both with out of area real estate brokerages), the median days on market greatly improves.
Aside from numbers…
The teams from Green Light Real Estate and Stone and Browning Property Management got together at Cornerstone in Barre. It’s always good when we get to know the people we work with at different companies. And not only was it a great lunch, but Tasha Adams won a drawing for a $25 gift card for liking and commenting on Facebook!
As we get further into spring, the Montpelier and Barre area real estate markets are really going to start heating up. If you or anyone you know is thinking that 2020 is the year to buy or sell a house, give us a call or an email. The experienced team at Green Light Real Estate can help you put a plan together to give you an edge over other buyers and sellers.