Northwest Vermont REALTOR® Association Releases April 2023 Market Statistics

April 2023
FOR IMMEDIATE RELEASE
Contact: Mike Berk, CEO

Northwest Vermont REALTOR® Association Releases April 2023 Market Statistics

U.S. existing-home sales declined 2.4 percent month-over-month as of last measure, according to the National Association of REALTORS® (NAR), reversing February’s sales gain of 14.5%. Fluctuations in mortgage interest rates have caused buyers to pullback, with pending sales dropping 5.2% month-over- month. Meanwhile, the median existing-home sales price declined for the second month in a row, falling 0.9% nationally from the same time last year, the largest year-over-year decline since January 2012, according to NAR.

Changes for April over last year at this time include:

• New Listings decreased 25.3 percent for single-family homes and 36.0 percent for townhouse-condo properties.
• Pending Sales decreased 22.5 percent for single-family homes and 26.3 percent for townhouse-condo properties.
• Inventory decreased 3.3 percent for single-family homes and 2.3 percent for townhouse-condo properties.
• The Median Sales Price was up 1.5 percent to $441,050 for single-family homes and 10.0 percent to $385,000 for townhouse-condo properties.
• Days on Market increased 55.6 percent for single-family homes and 26.1 percent for townhousecondo properties.
• Months Supply of Inventory increased 20.0 percent for singlefamily homes and 14.3 percent for townhouse-condo properties.

Housing inventory remains tight nationwide, with only 980,000 units available for sale heading into April, a 5.4% increase from one year earlier, although the number of homes for sale is down compared to the same period in 2019, prior to the pandemic. The lack of existing inventory continues to impact home sales, and with only 2.6 months’ supply of homes at last measure, competition for available properties remains strong, especially in certain price categories, with multiple offers occurring on about a third of properties, according to NAR.

Click the links for a complete Summary Report and the Town by Town Statistics. 

*The Northwest Vermont REALTOR® Association (NVRA) 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.