Manchester Vermont Real Estate Blog

Even as the cold and snow continued to pound the Northeast during the month of February, the local real estate market continued to heat up.

For the month of February we had 31 new listings come on the market ranging in price from $139,000 to $1.75 million. 29 properties were reduced in price with an average price reduction of 9.8%.

27 properties went under contract last month with good distribution across most price ranges. 6 properties sold with an average sale to list price of 87.3%

So far this year 47 properties have gone under contract. Typically January and February represent 15% of the total contracts that are written for the year, so if we extrapolate for the year we will be looking at a total of 313 properties going under contract this year. That would represent a substantial increase in the number of sales over the past couple of years and would be the best year in the market since 2005.

Buyers who have been waiting to find the best deal possible should probably not wait much longer as the market is definitely showing signs of picking up steam this year. Sellers who have been sitting on the sidelines waiting for the buyers to show up should probably get their houses ready to go on the market by this spring when hopefully things will really start heating up.