Manchester Vermont Real Estate Blog

I am committing to my readers that each Monday I will provide a recap of the previous week’s real estate market activity. I have put it on my calendar as a recurring appointment, now I just have to follow through. Please hold me to it, if you look for it and it’s not there.

For the week ending February 14, 2010 the following activity took place:

New Listings – 16 new listings came on the market last week, 12 houses and 4 condos, ranging in price from $116,000 to $2.6 million.

Price Reductions – 4 houses were reduced in price. The reductions ranged from 0.4% to 7.4%.

Under Contract – 4 houses and 1 condo went under contract last week. There is good distribution in the listing prices of these 5 properties with 1 in the $200,000 - $300,000 range, 2 in the $300,000 - $400,000 range, 1 in the $600,000 - $700,000 range and 1 over $1 million.

Sold – 2 houses and 1 condo sold last week. All three properties were in the $200,000 - $300,000 price range. On average the three properties sold at 94% of asking price.

It was good to see 3 closings and 5 contracts being written last week, but unfortunately the rate of new properties coming on the market is still outpacing the rate at which they are being absorbed.