The sun certainly does its part in uplifting spirits today. It must be an absolutely magical day on the slopes and a great day to be a little chirping bird. Nature follows its proper course, even while we humans focus on the bitter cold air that enters our lungs.
March, already! Since this happens to be a Real Estate Blog, this is a good time to pause and take a look at some of the highlights of the local market activity for February.
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 does not include any activity not listed within the MLS. I have rounded numbers and percentages to keep things simple.
Between February 1 and February 28 of this year, there were about 41% less new listings on the market in Lamoille County than during the same period last year, and 21% less than in January 2011.
In February, 16 Lamoille County properties received an offer. This is the same number as in January and 33% more than in February 2010.
30% more properties sold in February 2011 than in February 2010 and 16% more than in January of this year.
The average sale price in February was $360,600. At the same time last year, the average sale price was $248,900. This is an increase of about 45%.
On average properties that sold in February 2011 had spent 184 days on the market, which is 23% shorter than for properties that sold in February 2010.
Our economy, and what we know about it, is not the only factor that influences the market. The media provide information that is of great value to help shape our decisions and activity, but as accurate and reputable as many sources may be, ultimately it also boils down to individual mood, perspective and goals.
The winter months certainly represent additional challenges for those of us who live in the northern hemisphere. At times, it is not so much the storms that rage outside that make us hold off until spring as the storms that rage within. Sometimes, we must give in to the emotional hibernation caused by shorter, colder days and patiently await the renewed clarity that emerges with spring.