Blog :: 03-2014

Central Vermont Real Estate - 2013 Market Report

We shared with you the numbers calculated for the housing indicator: number of sales per town for 2013 in the last post. Take a look at the results of other housing indicators of the central Vermont real estate market in 2013.

Average Sale Price

Average sale price is perhaps the most talked about housing indicator. The chart below illustrates the volatility of this indicator over the last 5 years. For example the U-32 towns (Berlin, Calais, East Montpelier, Middlesex and Worcester) showed phenomenal growth in average sale price in 2013 over 2012. This more than compensated for the drop in average sale price which dropped sharply from 2011 to 2012. Montpelier continued to show solid appreciation with an 8.3% increase in average sale price to $239,930. Barre Town, a leader in growth in total number of sales showed a lesser increase in its average sale price. This followed a substantial $29,500 decrease in average sale price from 2011 to 2012. Waterbury's average sale price of $305,777 was one of the highest in Washington County. The average sale price of a Washington County home was $233,096 for 2013.

AVERAGE SALE PRICE BY TOWN

2009

2010

2011

2012

2013

Barre City

124,080

129,785

131,568

125,371

132,044

Barre Town

157,560

175,922

188,845

159,387

170,331

Montpelier

182,527

196,112

218,808

221,463

239,930

U32

213,396

204,757

213,214

186,604

241,047

Northfield

151,440

155,857

150,630

207,675

148,625

                                                                                                         Average Sale Price

Days on Market

Day on the market (DOM) is a dynamic number that indicates the number of days a property has been on the market until it goes under contract. The escrow period (between accepted offer and closing) is not part of this calculation. DOM is viewed as a loose indictor of the health of the market. Information for this one is only available for properties listed and sold through realtors. This information is not available for sales by unrepresented sellers. In addition, DOM only considers the time that a property was listed with the final listing broker and does not reflect that a seller or another broker may have previously had the property on the market. In smaller towns with fewer total sales, a few properties that take longer to sell will have an undue impact on this number.    

                                                                                             2013 AVERAGE DAYS ON MARKET

TOWN DOM
Barre City 123
Barre Town 152
Montpelier 115
U32 : Berlin 150
U32 : Calais 281
U32 : E.  Montpelier 107
U32 : Middlesex 185
U32 : Worcester 125
Northfield 133
Waterbury 147
Washington County Avg 154

 

 

 DOM

In 2012 the typical DOM was 5 to 6 months on the market and for 2013 dropped 4 to 5 months. This is a sign that the market has shifted from a "Buyer's Market" dynamic to a more balanced dynamic.

 

Check out what's on the market now: FOR SALE

Visit our FACEBOOK page

Comments

  1. condo for sale in calgary on

    Real estate is all about figures, prices and payments and if you are into property buying and selling, you need to at least familiarize yourself with these essential aspects.