Coldwell Banker Hickok & Boardman Realty, a full-service real estate company, has recently published a mid-year report that is full of good news for Northwest Vermont.
According to the report, "The type of healthy sales and pricing trends that were typical before the recession are returning to our region in 2015, thanks to a rebounding local economy, historically low interest rates, and a new influx of first-time homebuyers." This positive note is backed by statistics. The report also said that median sales price rose to 5.7 percent while overall sales rose to 13.7 percent in the first half of the year with more sales tallied in counties such as Chittenden, Franklin, Addison and Grand Isle.
For Chittenden County, the report for Hickok & Boardman says that 889 homes were sold in the first six months of the year with a median price of $265,500. The home sales is more than 18 percent higher than last year. Moreover, houses in this county are on the market of an average of 88 days only.
In Franklin County, homes have a median price of $196,000. The county saw sales of 219 homes which is only 1.4 percent increase. On the other hand, 47 homes with a median price of $210,000 were sold in Grand Isle County, which the report says is 6.8 percent higher than in 2014. It took an average of 209 days for houses to move in Grand Isle County.
Lastly, in Addison County, 133 homes with a median price of $214,000 were sold and that is up 10.8 percent in units sold.
Re/Max North Professionals noticed this positive trend in North Vermont real estate as Bill Desautels of the firm said, "The market is on fire, the market is booming right now."
Director of policy and administration at Vermont Housing Finance Agency, Maura Collins, meanwhile used property transfer tax data to analyze the housing market in Vermont, Burlington Free Press reported. Collins found a 1.4 percent increase in homes sold in Franklin County.
"I saw that volumes are up across the board for every county except for Franklin," she said. "Franklin had a 15 percent decrease in volume. It is the outlier, the only county with a decrease in 2015 over 2014."
