Sunny day in Lamoille County. Over twelve inches of fresh powder on the slopes and cross-country trails. It is clear that Mr. Woodchuck did not see his shadow yesterday. In fact, he may have been reluctant to come out, sensing the sort of crispness that makes one want to stay under the blankets. 34 days into the New Year, it is a good time to look at local numbers.
The data that follows pertains specifically to Lamoille County and to all Real Estate establishments with listings in this county that also appear in the Multiple Listings Service system (MLS). It therefore does not include For-Sale-By-Owner or other activity not appearing in MLS. I have rounded numbers to keep things simple.
In December 2009, in Lamoille County, 34% of the residential properties on the market at the time, sold. In the same period, homes sold on average at around 90% of the list price. Meanwhile, 32% of the remaining listings had received an offer.
In December 2010, in Lamoille County, 53% of the residential properties on the market at that time, sold. In the same period, homes sold on average at around 95% of the list price, a 5% increase from the same month of the previous year. Again, 32% of the remaining listings had received an offer.
In January 2011, in Lamoille County, 26% of the residential properties on the market at the time sold, compared to 28% in January 2010. However, the average time on the market was 50% shorter than in December 2010. Also in January 2011, homes sold on average at around 96% of list price, up 1% from the previous month and up 14% from January 2010.
Perhaps we need to come up with a different animal who might announce economic trends through some characteristic mid-winter behavior. How about a woodpecker, on the second day of March? “William Woodpecker has pecked thrice in three minutes”, the news would announce, “There will be 33% less unemployment this year, 33% more home sales and 33% more sunny days”.