Manchester Vermont Real Estate Blog

I’m finally getting around to this week’s recap. We took the kids to their first Red Sox game at Fenway Park on Monday night and I have spent the rest of the week playing catch up. I’m glad to report that the Red Sox beat the Blue Jays 7 – 6 and a great time was had by all. I’m also glad to report that my son’s little league team that I am coaching (Tony’s Pizza) is off to a 4 – 0 start to the season.

On to the weekly recap:

New Listings – 21 new properties came on the market last week ranging in price from $214,500 to $1.149 million.

Price Reductions – 10 properties were reduced in price with an average price reduction of 8.2%.

Under Contract – 6 properties went under contract last week, 3 are under $250,000, 1 is in the $500,000 - $750,000 price range, and 2 are over $1 million

Sold – 4 properties closed last week: one sold for $55,200 which was 100% of asking price, one sold for $112,000 which was 90% of asking price, one sold for $242,000 which was 85% of asking price, and one sold for $245,000 which was 98% of asking price.

The pace at which new listings are coming on the market seems to be accelerating as we get further into spring and continues to outpace the market’s ability to absorb the new inventory. We continue to see a steady rate of price reductions in the 7% - 8% range. On a hopeful note, the activity level in our office has picked up over the past week or two with more people looking. For the sake of a healthier market we need some of these lookers to turn into buyers.