Waterbury Real Estate

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!

Just Getting Started? Wondering How Buying a Home With a Real Estate Agent Works?

getting started

Congratulations if you have just made the decision to pursue purchasing your next home. There is a great amount of information available and home buyers are better educated about the real estate market than ever before. However, more information generates more questions. Many people looking to find out about homes that are available for sale search the web and check major real estate websites to start. Some simply search "homes for sale in the area they wish to focus on". Most major real estate sites such as Realtor.com, Zillow and Trulia download information from Realtor operated MLS (Multiple Listing Service) websites. We recommend that you go right to the source and utilize either our MLS site which is NNEREN.com or if you go to a brokerage website like our own, www.HeneyRealtors.com you will see our listing and a direct link into the NNEREN site. This will give you access to the most current information about most homes in Montpelier, Barre, Waterbury and surrounding communities in Washington and Orange Counties.

Now that you have current information about homes you wish to see, many people out in the hunt for their new home seem to call whichever sales person who has each property that they wish to see. In the end, these potential purchasers seem to bounce between a number of different real estate agents. Using this approach it is likely that none of these agents is working for the purchaser.

We think that the best way for you as a potential purchaser to approach this project is to meet with several licensed real estate salespeople or brokers who are active in the area where you wish to live. Then select an agent as the person that you trust to become educated with your list of "wants" and "needs" as well as your personal financial situation. This person will be in the best position to assist you to find and then purchase the home that you are dreaming of.

Once you select a Realtor to assist you, you will want discuss about how this relationship will work. You have choices about how you structure your business relationship with your Buyer Agent and you should discuss these options as you begin. Please give us a call to talk this over.

The Economy and Central Vermont Real Estate

Do the extreme fluctuations of the stock market impact real estate sales?

The question of the week last week was "Do the extreme fluctuations of the stock market impact real estate sales?"  The answer in the short term is "no." The roller coaster effect of the stock market and record prices for gold have people talking and considering the best, safest places to invest. If these markets continue to behave as they did last week, posting near record declines one day and rising steeply the next, the real estate market will feel the impact of greatly shaken consumer confidence.

Prior to the last month, the impact of gains in the stock market brought the value of many people's portfolios back to levels they seemed comfortable with.  In our office, we were hearing from buyers looking to move some of their assets into real estate. The general feeling was that prices had dropped to very attractive levels and as a result, we experienced more than the usual number of transactions with large downpayments or no bank financing involved.

Changes in the Central Vermont real estate market aren't tangible overnight. Despite continuing market hurdles, we are experiencing steady home sales. Residential interest rates have dropped, as have fuel prices, giving us optimism about near term sales.

- Tim Heney