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.