Northwestern Vermont Board of REALTORS® Releases June 2021 Market Statistics

May 2021
FOR IMMEDIATE RELEASE
Contact: Kathleen A. Sweeten, CEO

Northwestern Vermont Board of REALTORS® Releases June 2021 Market Statistics

The Northwestern Vermont Board of REALTORS® (NVBR) has released its market statistics for June 2021. The information is derived from data contained in the New England Real Estate Network and covers Chittenden, Franklin and Grand Isle Counties.

School’s out, and as vaccination rates rise and America enters a new normal, the U.S. housing market continues along at a frenzied pace, with low interest rates and limited inventory fueling record high sales prices. 

New Listings decreased 3.3 percent for single-family homes but increased 27.1 percent for townhouse-condo properties.

Pending Sales decreased 4.6 percent for single-family homes and 8.9 percent for townhouse-condo properties.

Inventory decreased 43.9 percent for single-family homes and 34.0 percent for townhouse-condo properties.

The Median Sales Price was up 18.5 percent to $385,000 for single-family homes and 10.3 percent to $290,000 for townhouse-condo properties.

Days on Market decreased 61.3 percent for single-family homes and 34.8 percent for townhouse-condo properties.

Months Supply of Inventory decreased 51.7 percent for single-family homes and 41.2 percent for townhouse-condo properties.

The increase in sales prices comes with a slight decline in existing home sales nationwide, as homebuyers struggle with declining affordability amid a lack of inventory, forcing some buyers to simply wait it out in hopes of more inventory and less competition. Meanwhile, home builders are trying to meet the increased market demand, with housing starts up 3.6% in May from April, according to the Commerce Department. As we ease into new routines and look forward to a post-pandemic future, one thing remains certain: America desperately needs more homes.

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.