The Vermont Property Owners Report

I always refer new property owners to the Vermont Property Owners Report. Consider it the best $50 you’ve invested in your property!

This bimonthly subscription newsletter is chock-full of invaluable information for property owners (of both homes and land), people thinking about buying or selling property and anyone with an interest in Vermont real estate.

The current issue was particularly informative as it provided an update on our new Governor’s budget and plans for his first few months in office and recommendations from the state’s Blue Ribbon Tax Structure Commission. There were also articles on

• septic and well “overshadowing”
• Fannie Mae’s concerns about private roads
• proposed reforms to Vermont’s Current Use tax policy
• an explanation on the state’s new capital gains tax policy, and
• several articles about propane gas, including warnings to homeowners to keep their service lines and regulators free from falling snow and ice.

Of particular interest to me as a REALTOR, but also as a property and homeowner, is the 2010 Real Estate Review, a multi-page summary of the state’s real estate market, our ups and downs, means and medians, and a snapshot of what’s to come. Each issue provides statistical information about the real estate market but the year-end summary is always especially interesting.

Giving full credit where credit is due, let me share Vermont Property Owners Report’s analysis of “arms-length” transactions (sales of property that were publically listed for sale on the state’s Multiple Listing Service(MLS) and sold between non-family members).

Volume of Sales by Category

Property Category                    2010 Sales      2009 Sales     ’09-’10 Change
Primary – Single Family Homes    3684               3141                 +17.3%
Primary – Condominiums               569                 520                 +9.4%
Vacation – Single Family Homes  1017               1034                  -1.6%
Vacation – Condominiums             280                 390                  -28.2%
Mobile Home – No Land              186                 358                  -48%
Mobile Home with Land                108                 188                  -42.5%
Land – 1 to 25 Acres                    816                 676                  +20.7%
Land – 25 to 200 Acres                254                 231                   +10%

MLS Data: Listings, Volume and Days on Market

Residential (primary and vacation)    2009         2010          Change
                   New Listings                    10,960       10,470          -4.47%
                   Sold Listings                      3942           3990          +1.22%
                   Sold Volume ($)        $941 million      $997 million  +5.87%
                   Avg. Days on Market         139            161            +15.83%
Condo (primary and vacation) 2009 2010 Change
                   New Listings                      2371         2224           -6.20%
                   Sold Listings                        991           908            -8.38%
                   Sold Volume ($)            $215 million   $194 million  -9.55%
                   Avg. Days on Market         178              178           00.00%

All Properties 2009 2010 Change
                   New Listings                     18,026        17,198        -4.59%
                   Sold Listings                        5753          5852         +1.72%
                   Sold Volume ($)            $1.254 bil       $1.324 bil    +5.59%
                   Avg. Days on Market           151             172         +13.91%

Subscriptions to the Vermont Property Owners Report are $52.95 for Vermont residents (includes sales tax) and $49.95 to non-residents. Discounts are given for multiple year subscriptions. Information is available at  http://www.vermontrealestatetoday.com/