U32 District

2013 - A Year of Growth for Central Vermont Real Estate

How is the Central Vermont real estate market?

This is a frequently asked question and a good one too;  the health of the housing market is an economic indicator that impacts buyers, sellers, and everyone in between.

We took a look at some key indicators of  real estate in Central Vermont for 2013 using data compiled from some major sources and compared these 2013 indicators to the previous four years. One major source we utilized is the multiple listing service (MLS), where the majority of Vermont real estate sales transacted by licensed brokers are recorded. In addition to MLS, we utilized the Vermont real estate sales online database which gathers information from the Vermont Department of Taxes to create a comprehensive list of all real estate sales that may or may not be recorded in the MLS. From the statistics gathered, it is exciting to report that growth and improvement summarize Central Vermont real estate market in 2013.

The key indicators that we looked at are the number of sales of single family residences, average sale price, and number of days a property was on the market. The towns focused on while looking at these indicators are:  MontpelierBarre, U32 (BerlinCalaisEast MontpelierMiddlesex and Worcester), and Northfield

The information presented below will specifically be about the number of sales of single family residences in Washington County, categorized by town.

In 2013 home sales increased in every major community as compared with the number of home sales in 2012. 2013 also produced the highest number of Central Vermont Real Estate home sales for any year in the last five years.

NUMBER OF SALES BY TOWN

2009

2010

2011

2012

2013

Barre City

60

64

41

55

76

Barre Town

59

55

51

71

102

Montpelier

74

57

58

61

75

U32

51

58

58

51

96

Northfield

27

18

22

26

48

Totals

271

252

230

264

397

                               

                                                                                                     Graph

As you will note above, Barre Town posted a strong increase year after year and the U-32 towns  posted an amazing 88% jump after four years of consistent numbers. Waterbury posted around 57 residential sales.

Numbers don't lie. Considering the overall increase of number of sales in 2013 and the kickoff of activity we've experienced in the new year, we expect 2014 to be another year of steady growth for Central Vermont real estate.

Check out what is on the market now at our new and improved website heneyrealtors.com and don't forget to visit our Facebook page!

December Market Update--You Know You Want to Know!

Ray Mikus

The November real estate numbers are in. See below for the total listings, sales, and new listings in Montpelier, Barre, U32, and Northfield. At the bottom of this post, you can see what sold, for how much, and how long it took.

Active New in Nov Under Deposit Closed in Nov Closed Nov 11-Nov 12
Barre City 65 7

5

1 65
Barre Town 62 4 3 10 74
Montpelier 43 7 8 6 67
U32 54 2 11 5 57
Northfield 49 4 3 1 27
Totals 273 24 30 23 290

 

And comparing to a year ago, the biggest "wow" data is the total number of sales. An additional 45 sales in the comparable 12-month cycles is huge in a market this size. The gain was spread throughout the market towns, with only the U32 towns seeing fewer sales year on year. Again, on the whole, the Central Vermont real estate market appears to be very healthy.

 

Also, the renovation of the new office at 135 Washington Street in Barre is just about finished. Feel free to stop by and see the new digs anytime after 12/15!

New 11/11 New 11/12 Closed 11/11 Closed 11/12 Closed 11/10-11/11 Closed 11/11-11/12
Barre City 7 7 4 1 45 65
Barre Town 11 4 1 10 53 74
Montpelier 8 7 3 6 63 67
U32 4 2 5 5 62 57
Northfield 4 4 1 1 22 27
Totals 34 24 14 23 245 290

 

 

 

And here are the closed transactions for November. Remember that I'm a total real estate nerd and have researched each of these transactions individually to learn the history. For example, a property that was on the market twice in a row for four months each time should, in my opinion, show as being on the market for eight months.

 

I also include any seller concession at closing as a reduction in total sale price. Makes sense to me because that's really the net purchase price. Also, that's how appraisers look at the sales.

 

Someone asked this last time...DOM means Days on Market. That might be on the test.

Town Address Original List Final List Closing Price DOM
Barre City 26 Hill St $108,500 $99,500 $97,000 156
Barre Town 836 Graniteville Rd $112,500 $90,000 $82,500 210
Barre Town 284 Route 14 $109,000 $105,000 $85,000 160
Barre Town 23 Cogswell $109,000 $109,000 $101,500 440
Barre Town 23 Meadowcrest $139,900 $139,900 $133,000 34
Barre Town 14 Panther Dr $145,000 $145,000 $133,920 17
Barre Town 115 Middle Rd $159,900 $159,900 $149,500 401
Barre Town 264 Middle Rd $198,500 $195,000 $184,785 91
Barre Town 5 Scenic View $229,000 $219,000 $204,000 148
Barre Town 26 Pine Ridge $225,000 $225,000 $210,000 41
Barre Town 280 Richardson Rd $365,000 $285,700 $265,000 114
Belin 339 Browns Mill $179,000 $179,000 $174,019 16
Berlin 180 Chandler Rd $230,000 $199,000 $180,000 791
Calais 42 Marshfield Rd $61,000 $28,000 $17,500 159
Calais 760 Kent Hill Rd $349,000 $349,000 $267,500 1184
East Montpelier 579 Bliss Rd $325,000 $299,000 $290,030 62
Montpelier 20 Independence Gr $132,000 $124,900 $118,243 161
Montpelier 172 Berlin St $194,500 $148,900 $135,900 370
Montpelier 26 Pleasantview St $179,000 $159,000 $152,000 528
Montpelier 11 Colonial Dr $214,900 $214,900 $192,500 70
Montpelier 6 Greenfield Terr $284,000 $267,000 $248,000 152
Montpelier 11 Merrill Terrace $325,000 $325,000 $312,000 7
Northfield 94 Expansion Lane $35,000 $35,000 $31,000 120

 

Want more? Or want to talk about what these numbers mean to buyers and sellers? Call or email.

 

 

 

 

 

 

June Market Report (May Sales and Data)

It's all about having the information that you want.

Here are the May sales for Montpelier, Barre, U32, and Northfield:

Town Address Original List Price Final List Price Closing Price Days on Market
140 Washington St Barre City $180,000 $82,800 $60,000 185
115 Tremont St Barre City $136,000 $124,000 $120,000 232
15 Valliere Ave Barre City $126,900 $126,900 $122,000 34
61 Beckley St Barre City $129,000 $129,000 $118,913 112
13 Veeder Ave Barre City $150,000 $149,900 $141,000 13
20 Delmont Ave Barre City $169,000 $169,000 $167,975 19
293 Tremont St Barre City $190,000 $190,000 $185,000 12
Averages $154,414 $138,800 $130,698 87
20 Summer St Barre Town $105,000 $105,000 $88,000 9
9 East St Barre Town $108,900 $108,900 $105,900 15
10 Moonlight Dr Barre Town $152,000 $145,000 $140,000 553
11 Clark Road Barre Town $190,000 $190,000 $185,000 28
24 Grand View Farm Rd Barre Town $265,000 $265,000 $255,000 13
26 Tree Top View Lane Barre Town $275,000 $275,000 $267,000 83
Averages $182,650 $181,483 $173,483 117
134 Ayers Road Berlin $118,900 $88,000 $68,000 306
948 Paine Turnpike Berlin $162,000 $152,000 $148,000 264
20 Mansfield Lane Berlin $239,900 $239,900 $235,000 32
32 Lower Curtis Pond Rd Calais $230,000 $230,000 $220,000 7
90 Fair Rd East Montpelier $160,000 $160,000 $149,000 56
Averages $182,160 $173,980 $164,000 133
26 Prospect St Montpelier $125,000 $98,000 $95,000 13
3 Miles Ct Montpelier $169,900 $140,000 $125,000 435
1893 Main St Montpelier $200,000 $175,000 $170,000 254
7 Kent St Montpelier $185,900 $185,900 $183,650 10
14 Roberts St Montpelier $219,000 $189,000 $183,330 247
193 Dover Rd Montpelier $285,000 $249,500 $233,000 664
6 Dunpatrick Circle Montpelier $339,000 $328,000 $315,000 172
28 Dover Rd Montpelier $449,000 $350,000 $290,000 202
288 Cityside  #62 Montpelier $259,900 $259,900 $215,000 35
Averages $248,078 $219,478 $201,109 226
1706 Union Brook Rd Northfield $169,900 $159,900 $147,000 515
1833 Hallstrom Rd Northfield $250,000 $235,000 $225,000 310
3081 Route 12A Northfield $20,000 $20,000 $20,000 188
Averages $146,633 $138,300 $130,667 338

And here's the current activity: the number of new listings, the number of current listings, those under contract, closed, etc. I also like to compare them to the previous year to give a little more context.

  Total Active New in May Under Deposit Closed in May Closed 5/11-5/12
Barre City 66 15 14 7 59
Barre Town 79 23 13 6 64
Montpelier 56 14 14 9 70
U32 63 9 16 6 67
Northfield 52 8 4 3 30
Totals 316 69 61 31 290

 

 

  New 5/11 New 5/12 Closed 5/11 Closed 5/12 Closed 5/10-5/11 Closed 5/11-5/12
Barre City 14 15 4 7 62 59
Barre Town 19 23 4 6 54 64
Montpelier 13 14 6 9 57 70
U32 17 9 2 6 52 67
Northfield 8 8 3 3 19 30
Totals 71 69 19 31 244 290

Montpelier Caravan--Our Picks

Today was the Montpelier Realtors' Caravan. It's a great chance to highlight the new listings in Montpelier. Selfishly, it's an opportunity for Realtors to preview the new listings, so that we can deepen our market knowledge.

Today's caravan featured five new listings...and four of them were those of Heney Realtors.

So...here are the picks:

15 North Park: This unassuming 1991 house surprised the crowd with its high end touches. Quartz countertop, tile floors, corain bathroom vanities, and a custom fireplace. Just plain beautiful. There's a direct entry two car garage, and the fenced yard backs right up to Hubbard Park. At $289,000, we were impressed.

 

295 Pine Hill Road--East Montpelier.  Built in 2004, this house has the layout that today's buyers want. Big, open rooms, nice natural light, and an efficient heating system. It's at the end of a cul de sac, and close to U32 high school, Montpelier, and Barre. Great location. Solid house. And hence, a top pick.

November Real Estate Market Report--Montpelier, Barre, Northfield, and U32

 November Real Estate Market Report--Montpelier, Barre, Northfield, and U32

Ray Mikus, Broker

Heney Realtors

Here are the unofficial real estate numbers for the Montpelier-Barre area.

  Active in Oct New in Oct Under deposit in Oct Closed in Oct Price Change in Oct Sold Last 12 months
Barre City

69

5

8

2

17

48

Barre Town

67

2

7

7

7

64

Montpelier

52

3

8

5

7

65

U32

61

8

6

6

6

59

Northfield

42

4

4

4

4

22

Totals

291

22

33

24

41

258

 And, comparing to last year...

  Active '11 Active '10 New Oct '11 New Oct '10 Sold Oct '11 Sold Oct '10 Sold Oct '10-Oct 11 Sold Oct '09-Oct '10 Absorb. Rate 12 months '10-'11 Absorb. Rate 12 months '09-'10
Barre City

69

72

5

11

2

7

48

68

1.44

1.06

Barre Town

67

54

2

3

7

12

64

67

1.05

.81

Mplr

52

44

3

9

5

5

65

63

.80

.70

U32

61

64

8

7

6

2

59

64

1.03

1.00

Nfld

42

39

4

7

4

1

22

26

1.91

1.50

Totals

291

273

22

37

24

27

258

288

1.13

.95

 

Going Through the Numbers: Ok , that's a lot of data.  Looking through this, Barre City appears to be the market with the most volatility. 17 price changes in October. Half the new listings this October than last October.  20 fewer sales in this 12 month cycle compared to last year.  Is it the time to buy in Barre City? It looks like it to me...

Another set of numbers worth talking about is the absorption rate. That's the ratio of homes on the market to the number of homes that have sold in the last 12 months. Montpelier's absorption rate is .8 of a year, meaning that right now, there's a nine month supply of housing at the current sale rate.  Overall, in this Central Vermont real estate market, the total absorption rate rose to 1.13 in October, meaning that there's roughly a 13 month supply of housing. I'm not freaking out. You shouldn't either.

 

You Know You're Curious

Real Estate Voyeur: Get your attention with that headline? I've made the analogy before that real estate is like love. It's natural to want to know what an ex is up to. Same thing with a home that you may have looked at online or seen in person.  If you're ever curious about whether a house sold, or what properties have sold for, just call or email. I might know off the top of my head. If not, I'm a pretty good private eye. Curiosity killed the cat, but satisfaction brought it back. For more on this topic, visit the real estate voyeur blog post.

 

 

 

You Just Never Know:  Popular belief is that October is a slower part of the market.  Properties are so individual. Recently, I had a listing that had three offers on it in two days. This wasn't a steal of a property. It was priced correctly in this market, it showed well, and then, BAM. Three offers.

Here's why I tell you this:  Sellers--There are buyers out there who are ready, willing, and able to make good offers. It happens all year round. If you're discouraged, hang in there. You just never know.

Buyers--There are other buyers who are ready to jump into this market. Waiting a few days, or weeks while you eyeball a property won't always work.  If you see something that you like, or if your Realtor tells you about a good deal, be ready to pull the trigger. (And yes, I can tell you when there's a particularly good deal...)You just never know.

October's Closed Transactions

Town Address Ask Price Sale Price
Barre City 58 Blackwell St $54,900 $42,500
Barre City 7 Elmwood Ave $139,900 $139,900
       
Barre Town 11 Short St $99,900 $80,000
Barre Town 442 Websterville Road $134,900 $128,000
Barre Town 20 Hillcrest Ln $149,900 $144,900
Barre Town 193 Richardson Rd $179,900 $175,000
Barre Town 246 East Cobble Hill Rd $219,900 $200,000
Barre Town 31 Barre View St $235,000 $229,000
Barre Town 410 Camp St $329,000 $310,000
       
Berlin 13 Cecile Ave $179,900 $175,000
Berlin 69 Hideaway Drive #9 $226,900 $215,500
Berlin 1433 Darling Rd $795,000 $739,000
Calais 31 Back St $191,000 $191,000
East Montpelier 670 Cherry Tree Hill Rd $296,500 $275,000
Middlesex 441 Center Rd $169,900 $170,000
       
Montpelier 6 Independence $142,900 $142,900
Montpelier 215 Barre St #108A $164,900 $162,900
Montpelier 30 Sibley Ave $245,000 $225,000
Montpelier 13 Terrace St $319,000 $294,000
Montpelier 20 Baldwin St $359,000 $350,000
       
Northfield 1363 Route 12 A $39,900 $37,500
Northfield 28 Riverside Ln $49,500 $37,500
Northfield 1370 Turkey Hill Road $49,900 $46,000
Northfield 528 Turkey Hill Rd $137,500 $115,000

 

Halloween Costume Winners:  This year's contest had lots of great entries. Check them all out at

You Know You're Curious

www.facebook.com/heneyrealtors. Click on the Halloween Costume Contest album to see them.  Relishing my role of arbitrary judge (with Carol helping me, of course), here are the winners:

No Dilly Dallying Award:  Matt and Heather Martin, Kyle and Talitha Landis-Marinello, Jen Sugai

Cutest Baby Costume: Kristen and Phil Whitman (and their Blue Bear)

Best Birthday/Halloween Costume--Believe it or not, there were two entries of people with birthdays right around Halloween--Pat and Steph Smart.

Best Family Costume--Joanie LaPointe and her gruesome family. Please tell me that's makeup.

You Know You're Curious

You Know You're Curious

Don't be a stranger. Call or email if you have any questions about buying, selling, or investing in real estate. Also, if you know anyone who you think would enjoy getting this report, let me know.

Montpelier Picks and Previews

Click for details on 6 & 8 Summit Street

A snapshot of the Montpelier Realtors' Caravan

The second third Tuesday of the month, it was time for the Montpelier Caravan. The properties on caravan were the typical mixed bag, but here are my favorites:

6-8 Summit Street

There aren't many duplexes in Montpelier with two two-car detached garages. That's right: four garage spaces. It's tucked away on a quiet sidestreet near Vermont College and has a small, private yard.  Each unit has three bedrooms and all the utilities are separate, including water meters.

As far as an owner-occupied building in the heart of Montpelier, this one is tough to beat.  The construction is solid, the location is central, and the parking is abundant.

Click for details on 6 & 8 Summit Street

61 College Street #2

For someone looking for an easy one bedroom condo in a prime location in Montpelier, College Street is a strong candidate. It's got hardwood floors, high ceilings, and a one-car garage.

What I like best about this unit is that it is easily within walking distance to downtown Montpelier and the building has top-notch curb appeal.  Plus, it's listed at $125,000.

109 Glinnis Road 

Click for details on 6 & 8 Summit Street

Ok, technically it's in Berlin, but it was on the Montpelier caravan, so I'm letting it in.  109 Glinnis is unlike any property I've seen. It's a four-bedroom manufactured home on 1.8 acres (okay, that much I've seen before), but this also has an attached one bedroom accessory apartment. The apartment could generate a little extra income, or it could be perfect for a friend or family member who in need of assistance.  Handicap modifications have been made.

Plus, the 1.8 acres make a beautiful, level yard surrounded by rolling hills, farmland, and woods. It really is a unique Montpelier (Berlin) property.

- Ray Mikus

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