Northwestern Vermont Board of REALTORS® Releases September 2021 Market Statistics

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

Northwestern Vermont Board of REALTORS® Releases September 2021 Market Statistics

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

Nationwide, existing home sales were down slightly in August, falling 2% after two consecutive months of increases, according to the National Association of REALTORS®. The decline in existing home sales coincides with rising sales prices, which have continued to soar into fall, with the median sales price of existing homes up 14.9% compared to last year. Declining affordability has had a significant impact on homebuyers, many of whom have been priced out of the market and are choosing to wait for sales prices to ease before resuming their
home search.

Changes for September over last year at this time include:

• New Listings decreased 10.4 percent for single-family homes and 10.4 percent for townhouse-condo properties.

• Pending Sales increased 0.4 percent for single family homes but decreased 11.3 percent for townhouse-condo properties.

• Inventory decreased 40.5 percent for single-family homes and 47.7 percent for townhouse-condo properties.

• The Median Sales Price was up 15.7 percent to $395,000 for single-family homes and 0.5 percent to $284,050 for townhouse-condo properties.

• Days on Market decreased 35.6 percent for single-family homes and 33.3 percent for townhouse-condo properties.

• Months Supply of Inventory decreased 41.7 percent for single-family homes and 46.2 percent for townhouse-condo properties.

There are signs the market may be shifting, however. New listings have continued to hit the market, bucking seasonality trends commonly seen in the fall, a time when listing and sales activity typically slows as children return to school. As inventory increases, competition for homes may soften, and could even bring a moderation in sales prices, which, after 114 months of year-overyear gains, would be music to the ears of homebuyers throughout the country.

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

___________________

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.