Pleasant Valley Real Estate 2014 real estate report

2014 Northwestern Vermont Real Estate Market Report

Pleasant Valley Real Estate 2014 real estate reportWith the end-of-year holiday season a mere memory, it seems like a good time to reflect on the 2014 Northwestern Vermont Real Estate Market Report for Chittenden, Franklin, and Grand Isle Counties, and the areas that Pleasant Valley Real Estate serves most: Underhill, Cambridge, and Jericho, Vermont. This information is gleaned from the Northwestern Vermont Board of REALTORS® year-end real estate market statistics for 2014.

2014 was a busy year. In Chittenden, Franklin, and Grand Isle Counties, 2,235 homes were sold, down a very slight 1.1 percent over 2013. At Pleasant Valley Real Estate, we did $5 million in sales. Surprisingly, Underhill was up 7.7 percent in home sales over 2013, making it the fifth most productive town in Chittenden County.

The Big Picture

Chittenden, Franklin, and Grand Isle Counties

Changes in single-family home sales in 2014 as compared to 2013 include:

  • The median sales price rose 2.4 percent to $240,750 for the year.
  • With 1,341 active listing as of the end of 2014, consumers had 10.2 percent few options in 2014 than in 2013.
  • Closed sales decreased 1.1 percent, indicative of a more balanced market.
  • The average days a house was on the market dropped slightly, from 100 days in 2013 to 95 days for single family home.
  • The average sales price for a single family home increased slightly, from $269,255 in 2013 to $271,775 in 2014.

Pleasant Valley Real Estate 2014 real estate reportZooming In

Underhill and Cambridge

Changes in single-family home sales in 2014 as compared to 2013 include:

  • New listings were up substantially, from 48 new listings in 2013 to 69 in 2014.
  • Overall there were 28 closings, compared to 26 in 2013.
  • The average sales price increased from $242,500 to $252,000.
  • Sellers got an average of 93.1 percent of their listing price, which was identical to 2013.
  • The number of days a house was on the market before it sold was 92 days, down from 100 days in 2013.

Jericho

  • Changes in single-family home sales in 2014 as compared to 2013 include:
  • New listings were up from 76 new listings in 2013 to 86 in 2014.
  • Closed sales were down slightly, from 49 in 2013 to 46 in 2014.
  • The median sales price also decreased, from 285,000 to $264,250
  • Sellers got an average of 93.5 percent of their listing price, which was down a very slight .5 percent from 2013.
  • The number of days a house was on the market before it sold was 70 days, down from 82 days in 2013.

So here’s my take on the past, present, and future: interest rates are again near historic lows and the month of January has been unusually busy. My real estate predictions for 2015 are positive, with many first-time home buyers coming to the market, and higher-end home sales picking up at last. I look forward to serving you this year and may it be a wonderful year!!!

Lea Van Winkle, Owner/Broker

Pleasant Valley Real Estate

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Posted in Pleasant Valley News, Rural Vermont Real Estate, Uncategorized.