NVBR Releases November 2020 Market Statistics

DECEMBER 2020
FOR IMMEDIATE RELEASE
Contact: Kathleen A. Sweeten, CEO

Northwestern Vermont Board of REALTORS® Releases November 2020 Market Statistics

The Northwestern Vermont Board of REALTORS® (NVBR) has released its market statistics for November 2020. The information is derived from data contained in the New England Real Estate Network and covers Chittenden, Franklin and Grand Isle Counties.

November saw the Dow Jones Industrial Average top 30,000 for the first time, while mortgage rates reached new record lows again. These new records have provided encouragement for buyers to move forward on home purchases, which continued to remain strong overall for the month. New Listings decreased 2.2 percent for single-family homes and 38.6 percent for townhouse-condo properties. Pending Sales increased 21.5 percent for
single-family homes but decreased 9.6 percent for townhouse-condo properties. Inventory decreased 52.2 percent for single-family homes and 55.6 percent for townhouse-condo properties.

Changes for November over last year at this time include:

• The Median Sales Price was up 17.2 percent to $358,500 for single-family homes and 7.0 percent to $259,000 for townhouse-condo properties.
• Days on Market decreased 30.2 percent for single-family homes and 48.1 percent for townhouse-condo properties.
• Months Supply of Inventory decreased 55.6 percent for single-family homes and 56.5 percent for townhouse-condo properties.

Showing activity remains higher than the same period a year ago across most of the country, suggesting that strong buyer demand is likely to continue into what is typically the slowest time of year. With inventory remaining constrained in most market segments, sellers continue to benefit from the tight market conditions.

For more details on the Market Statistics click here: http://www.nvbr.com/category/news/market-statistics/.

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The Northwestern Vermont Board of REALTORS® (NVBR) is the “Voice for Real Estate” in northwestern Vermont representing over 650 members involved in all aspects of the residential and commercial real estate industries. The monthly market statistics report is sponsored by NorthCountry Federal Credit Union.