Manchester Vermont Real Estate Blog

For the week ending February 21, 2010 the following activity took place:

New Listings – 12 new listings came on the market last week, 11 houses and 1 condo, ranging in price from $169,000 to $849,900.

Price Reductions – 2 houses were reduced in price, by 9.7% and 10.5% respectively.

Under Contract – 6 houses went under contract last week ranging in price from $135,000 to $599,000.

Sold – 1 house sold last week, selling for 74% of asking price.

The trend over the past two weeks has been more properties coming on the market than the market can absorb. For the past 2 weeks 28 new properties have come on the market while 11 have gone under contract. When supply and demand continue to be out of equilibrium like this it usually will result in further downward pressure on prices as sellers compete for the buyers who are out there.