Let’s take a minute and really drill down into what’s happening with homes for sale in Barre, Vermont.
Over just the past twelve months, the median sale price has increased by 14%, combining homes for sale in Barre City with homes for sale in Barre Town. I know, I know, here at Green Light Real Estate, we usually break those two markets apart, but we wanted to take a broader look at the Barre market here.
That 14% year on year increase is on top of the 18% from the previous twelve months. So, really, since April 2021, homes for sale in Barre have seen a median price increase of 35%, from $195,000 to $230,700, to $263,000.
We’re still seeing really short days on market for homes for sale in Barre, Vermont. In 2020-2021, median days on market was 23. It was seven and eight over the last two years. The stats tell one story, but the way this fast moving market plays out in real life is pretty astonishing.
Take 10 Ledge Drive in Barre. That North Barre neighborhood is ideal in a lot of ways. It’s a friendly neighborhood, it’s convenient to downtown Barre, Montpelier, and 89, and the houses are more affordable than other parts of the town. This particular house was solid, but truthfully, hadn’t been touched cosmetically since it was built in 1967.
So, great neighborhood, good price point. They got 22 offers. Most experienced Realtors who work with homes for sale in Barre, Vermont saw it as underpriced when the listing went live. As of this writing, we don’t know the sale price, but I’ll bet a dozen donuts that it’s considerably more than the asking price.
Another example of a home for sale in Barre, Vermont that went under contract is 10 Hersey Drive. That was a well-kept house, with a nice side yard, and a big deck. The layout was a little non-traditional, and honestly, I’m fine with that! It was a good house, and, again, while it seemed underpriced, we still wanted to check it out.
15 offers later, and I’m sure it goes for much more than the asking price.
Right now, we’re just at the beginning of what is usually the busiest season for the Central Vermont real estate market, and it’s showing no signs of a slow down. Interest rate increases aren’t stopping this market. Price increases, year after year, aren’t slowing down the market. Our best for people looking to buy a home for sale in Barre, Vermont is to get a really solid home search and home buying strategy with a good buyer agent, and then just come out swinging.