Manchester Vermont Real Estate Blog

We’ve reached the halfway point of the second quarter so in addition to the weekly recap I will provide some numbers regarding how the quarter is shaping up.

First the weekly recap:

New Listings – 14 new properties came on the market last week ranging in price from $139,900 to $1.049 million.

Price Reductions – 7 properties were reduced in price with an average price reduction of 8.7%.

Under Contract – 2 properties went under contract last week, both are under $250,000.

Sold – 5 properties closed last week: one sold for $65,000 which was 93% of asking price, one sold for $170,000 which was 90% of asking price, one sold for $276,000 which was 95% of asking price, one sold for $365,000 which was 91% of asking price, and one sold for $620,000 which was 89% of asking price.

Now for the second quarter at the halfway point:

So far this quarter 30 properties have sold and we currently have 32 properties under contract. Assuming they all close by the end of the quarter we will end up with 62 sold properties for the quarter, in line with the 50 – 60 I predicted at the beginning of the quarter.

102 new listings have come on the market since the beginning of April and we now have a total of 547 properties on the market. The available inventory has grown by 4.2% since April 1^st as supply continues to outpace demand. Over the trailing 12 months 213 properties have sold which gives us a 2.5 year supply of houses, the same place we were at the beginning of the quarter.