» market news

New home construction down 66 percent in Vermont

admin — Mon, 13 Oct 2008 01:52:40 +0000

From the Rutland Herald, October 12:

MONTPELIER — The number of new homes under construction in Vermont fell sharply in the last year as credit markets constricted and a national economic downturn hit the Green Mountains.

Construction statistics reveal a sector-wide slowdown that, according to one expert, threatens the jobs of nearly 8,500 Vermont wage earners. And while Vermont has by all accounts remained comparatively insulated from the subprime lending and speculative over-building that depressed housing markets elsewhere in the country, activity here has, by some measures, fallen to levels unseen in nearly three decades.

Read the full article.

Appraisals in Brandon, Vermont up 16.3 to 120.2 percent

admin — Thu, 04 Sep 2008 03:03:51 +0000

According to a recent article in the Rutland Herald, a Brandon, Vermont agent states that “…statistics compiled by the National Association of Realtors indicate Vermont has been one of the quickest-recovering states from the slowdown in the real estate market.” A new appraisal in the town of Brandon has property values assessed at up to 80.1 percent over its last assessment in 2001.

Read the complete story here.

Essex real estate values rise

admin — Mon, 04 Aug 2008 12:35:13 +0000

The number of homes sold in Essex [Vermont] continues to fall, but the selling prices are higher than ever.

The median cost of a home with less than six acres in Essex rose to $263,000 through June — a $3,000 increase since last year and a $75,000 increase since 2003, according to the Vermont Department of Taxes.

Read the full article.

Vermont buyers and sellers more savvy, thanks to the ’net

admin — Fri, 25 Jul 2008 23:33:01 +0000

An article in this month’s Business People Vermont talks to three Vermont real estate experts who discuss the current and past Vermont real estate market. What has changed most dramatically? The buyers and sellers, who now have infinite resources at hand via the internet.

“‘The Internet is the biggest trend, says [Kathleen] Sweeten, and her organization’s educational programs are aimed at helping members get up to speed. Eighty percent of homebuyers begin their searches on the Internet, she says…”

“‘Today’s market is very different from where it was 10 years ago,” says Sweeten, “when clients came to brokers for the information because they couldn’t get it anywhere else. Now, clients come to brokers as educated, savvy, aggressive buyers or sellers, and they know a lot more than they did 10 years ago.’”

Read the full article.