January 2013 Market Statistics

January 2013 Market Statistics The Northwestern Vermont Board of REALTORS has released its real estate market statistics for January 2013. The information is derived from data contained in the Northern New England Real Estate Network and covers Chittenden,Franklin and Grand Isle Counties. In the three county area: Pending sales were up 8.8 percent to 99. Inventory levels shrank 30.5 percent to 801 units. Prices rallied higher. The median sales price increased 5.9 percent to $235,000. Days-on-market were down 21.0 percent to 110 days. Absorption rates improved as months-supply-of-inventory was down 42.1 percent to 5.7 months. The housing market is showing plenty of strength with sales and price increases, said Kathleen Sweeten, Executive Vice President of NVBR. The market is active, financing rates are still attractive, and buyers are motivated to find the right home with the help from their REALTOR. In turn, sellers are seeing these trends, as well as the demand from buyers and putting their properties on the market.