Manchester Vermont Real Estate Blog

Maybe someone out there is listening to me. Actually, what I have to report this week must be a coincidence but it is a step in the right direction. Last week I reported that too many of the new listings were over a million dollars even though most of the action is at the lower end of the market. This week of the 21 new listings on the market, 9 are under $250,000, 11 are between $250,000 - $500,000, and the remaining listing is at $685,000. There are still too many new listings being added to the market compared to demand but at least for this week they are in the right price range for where the buyers are.

On to the weekly recap:

New Listings – 21 new properties came on the market last week ranging in price from $99,000 to $685,000.

Price Reductions – 11 properties were reduced in price with an average price reduction of 7.4%.

Under Contract – 8 properties went under contract last week, 3 under $250,000, 3 between $250,000 - $500,000, and 2 between $500,000 - $750,000.

Sold – 3 properties closed last week: one sold for $181,000 which was 91% of asking price, one sold for $215,000 which was 86% of asking price, and one sold for $350,000 which was 97% of asking price.