Current conditions in Stowe, VT: Partly sunny with slight chance of showers. 56 refreshing degrees at the thermometer. Northwest winds 10 to 15 mph. 20% chance of rain. From where I sit, I notice that the clouds have parted to reveal a sunny, blue backdrop. The trees are ready to adorn their colorful autumn vestments. A change of season is a perfect time to review the year so far. Is this a changing season for the market as well?
It is not rare to experience some measure of gloominess on a cool, cloudy day. Interestingly, anthropologists believe that this is normal. We simply use the wrong label to qualify what we feel. In reality, a cloudy or rainy day simply triggers a natural response to slow down and preserve our energies. In this fast-paced world, however, we must show up, be alert and productive. Likewise, we expect our endeavors to be productive and we experience a sense of doom when our business and economic environments slow down.
I was pleasantly surprised by the revealing numbers I came across a moment ago when I compared residences sold in Lamoille County from January 1st to September 15th, 2009 and for the same period this year. Here is what I found:
86 Lamoille County residences sold from January 1st, 2009 to September 15th 2009 after spending an average of 201 days on the market.
101 Lamoille County residences sold from January 1st, 2010 to this day, September 15th 2010 after spending an average of 190 days on the market.
Quick analysis: 17% more properties have sold through the first three quarters of 2010 compared to the same period in 2009, with on average 6% fewer days on the market.
We all know that economic recovery is a slow process, but it is a process of ebb and flow, one that inevitably bounces back in one way or another.
The sun, it seems, touches the mind as much as the skin, warming us to embrace a brighter perspective. Likewise, it is possible to acquire a brighter perspective on the market by parting the clouds of perception, so to speak, to reveal surprising conditions. Keep looking up!
Source: MLS statistics reports for Lamoille County – Residential (Does not include FSBO residences)