Blog :: 11-2011

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.

Real Estate Voyeur

 

Aren't You Just a Little Curious?

It's ok to admit it. There have been times when you've been curious as to how an old boyfriend or girlfriend is doing. Who'd they end up with? Where do they live? We're not here to judge.

These days, Facebook can let you keep an eye on the people from your past.

But lots of times, people that are looking at homes for sale in Montpelier or Barre have similar curiosity about properties they've actually looked at.  You looked at the house a few times on the internet, maybe you even had a showing.

Then, you notice a month later that the house no longer seems to be on the market. What happened? Did it sell? When? For how much? You're just dying to know! 

If you're ever curious about what happened to a particular property (condo, multi-family, land, or house) in the area, just call or email our office.

The Realtors at Heney Realtors are like detectives. We often know off the top of our heads what happened , but if not, we're good at tracking down the history of properties.

So go ahead and ask. Curiosity may have killed the cat, but satisfaction brought it back.

By Ray Mikus

Interesting Trend: Buyers Looking for Smaller Homes in Central Vermont

Compact Homes

I've seen an interesting trend recently: Buyers looking for smaller houses for sale in the Barre and Montpelier area.

First time buyers and people looking to downsize into smaller homes (two bedrooms, or two bedrooms with an office) have always been part of the natural real estate market in Central Vermont, and the demand for these properties tends to be fairly steady.

A great way to get into home ownership is to buy something that's just the right size. Coming from an apartment, two bedrooms and 1400 square feet might seem palatial.

And it can be. As time goes on and life changes, perhaps more space is needed (bedrooms, home office, yard, etc.). Guess what? There's someone else looking for a great way to get into home ownership. See how that works?

But recently I've met buyers who are thinking ahead to their retirements. They're looking for homes that have the option of first floor living, but that don't necessarily require it. For example, there's a full bathroom and a bedroom on the first floor, but also another of each on the second floor.

"Compact homes", as someone has called them, are not for everyone. But the right ones might give pleasant surprises in terms of energy efficiency, maintenance, and cost.