Manchester Vermont Real Estate Blog

The home buyer tax credit expired at the end of April. The weekly figures show a slight uptick in the number of properties going under contract which was probably due to its expiration. I am not hearing anything about it being extended again, please let me know if you hear something.

On to the weekly recap:

New Listings – 16 new properties came on the market last week ranging in price from $229,000 to $1.95 million.

Price Reductions – 8 properties were reduced in price with an average price reduction of 7.8%.

Under Contract – 8 properties went under contract last week, 3 are under $250,000, 4 are in the $250,000 - $500,000 price range, and 1 is in the $500,000 - $750,000 price range.

Sold – 6 properties closed last week: one sold for $127,000 which was 85% of asking price, one sold for $268,940 (those negotiations must have been a pleasure!) which was 93% of asking price, one sold for $365,500 which was 94% of asking price, one sold for $520,000 which was 95% of asking price, one sold for $612,000 which was 82% of asking price, and one sold for $2,240,500 which was 81% of asking price (someone was celebrating last week).

During the last 2 weeks of April, 16 properties went under contract. This was the best 2 week period we’ve seen in awhile. So the tax credit did have a positive impact on our market. Let’s hope the momentum continues into May.