Blog :: 2015

The Numbers are in! Check Out What Real Estate Looked Like in 2014.

2014 END OF YEAR REPORT

2014 was a year of growth and improvement for real estate throughout Washington County. 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 number of transactions increased in nearly every major community as compared with the number of sales in 2013. 2014 posted the highest number of sales for any year in the last five years.

 

                                                                          2014 SNAP SHOT

 

TOWN

# OF SALES

AVG SALE $

AVG DOM

HIGHEST $ SALE

Barre City

92

$126,575

136

$265,000

Barre Town

104

$164,688

88

$445,000

Montpelier

86

$243,864

97

$530,000

U-32

85

$222,724

125

$692,000

Northfield

62

$151,812

137

$415,000

Williamstown

30

$132,579

107

$253,000

AVERAGES

76

$173,704

115

na

 

NUMBER OF SALES BY TOWN

The number of sales increased in almost every major community as compared with the number of sales in 2013 and most posted the highest number of sales for any year in the last five years.

 

NUMBER OF SALES BY TOWN

TOWN

2010

2011

2012

2013

2014

Barre City

64

41

55

76

92

Barre Town

55

51

71

102

104

Montpelier

57

58

61

75

86

U-32

58

58

51

96

85

Northfield

18

22

26

48

62

Williamstown

 

 

 

 

30

 

 

 

 

 

 

TOTALS:

252

230

264

397

459

 

 

AVERAGE SALE PRICE BY TOWN

Average sale price is perhaps the most talked about unit of comparison. All of the communities in Washington and Orange County are "small" towns. In any given year several exceedingly low foreclosure or distress sales can adversely influence the average significantly. Conversely a few very high sales can pull the average up. In 2014 interest rates remained deliciously low and fuel prices declined dramatically at the end of the year. Both factors contributed to improve affordability for homeownership. With this, more first time homeowners appeared on the scene. These new buyers contributed to an increased number of sales.

AVERAGE SALE PRICE BY TOWN

TOWN

2010

2011

2012

2013

2014

Barre City

129,785

131,568

125,371

132,044

126,575

Barre Town

175,922

188,845

159,387

170,331

164,688

Montpelier

196,112

218,808

221,463

239,930

243,865

U-32

204,757

213,214

186,604

241,047

222,724

Northfield

155,857

150,630

207,675

148,625

151,812

 

 

 

 

 

 

 

 

 

 

 

 

AVERAGES:

172,487

180,613

180,100

195,838

181,932

 

 

AVERAGE DAYS ON MARKET (D.O.M)

Another number that presents a mixed picture of the market is the days on the market. That number is the number of days from when a property goes on the market to when it goes under contract. The escrow period (between accepted offer and closing) is not part of the calculation. This number should also be taken with a grain of salt for two additional reasons.

First, some of the area sales were indicated by homeowners, and then were listed and sold with a Broker. The days on market calculation considers only the time a property was listed by the Realtor ultimately representing the property at the time of sale. Second, some of these properties may have been on and off the market over time.  Even considering these factors, this data has been compiled in a constant manner for years and do provide a valuable insight into the turnover rate in the market. As you will see below homes typically did sell much more quickly in 2014.

AVERAGE D.O.M

TOWN

2010

2011

2012

2013

2014

Barre City

142

158

169

123

136

Barre Town

105

136

124

152

88

Montpelier

140

110

180

115

97

U-32: Total

159

194

166

 

 

->Berlin

 

 

 

150

159

->Calais

 

 

 

281

171

->E. Mont

 

 

 

107

127

-> Middlesex

 

 

 

185

113

-> Worcester

 

 

 

125

46

Northfield

258

117

229

133

137

 

 

 

 

 

 

AVERAGES:

165

143

173

152

119