In looking at the statistics for 2012 vs 2013, for the most part, we are very encouraged by the statistics. First we looked at Chittenden County sales of single family homes and condos: The number of closed sales was up 15.5% over 2012.  The average sales price was up 2%, from an average of $288,120 in 2012 to $292,846 in 2013. Not a big increase, but better than going the other way.  Another great stat is that the average days on market decreased 12% from 101 in 2012 to 89 in 2013. These are great trends.

On the downside, there was a larger inventory of active listings at the end of 2013 than there was at the end of 2012, up 23.5%, and there is currently a seven month supply of houses and condos for sale in Chittenden County. This means it is a buyer's market although we prefer to look at the market town-by-town when we look at supply. 

In the Franklin County towns of St. Albans (town and city), Fairfax, Georgia, Highgate and Swanton, 16% more homes sold and the average price was up3%. Days on market were down from 133 in 2013 to 119 in 2013. There is also a smaller supply of houses on the market than in 2012 - still enough to indicate a buyer's  market -  but we are going in the right direction on all fronts.

Grand Isle towns of South Hero, Grand Isle and North Hero  saw the average sales price increase a whopping 13% and the days on market decreased slightly. The downside is that there is a nearly two year supply of homes on the market - we look at how long it would take to sell out the market as an indicator. This is an increase over the previous year. Sellers can't afford to price their homes too high if they want to be the next one sold!

What all this means is that the prices are increasing, the days on market are decreasing, but the supply of homes on the market still indicates a buyer's  market when looking at the counties as a whole. Homes are selling - there is just still a lot of competition. Initial pricing becomes especially important as does condition of your home. A fresh coat of paint, decluttering and cleaning out closets and the basement will go a long way in this market.