October 2021 Market Statistics

NVBR Market Reports are sponsored
by the North Country Federal Credit Union

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The U.S. housing market remains robust, with strong activity reported across
both rental and residential housing fronts. Single-family rent prices are
increasing rapidly, as demand for single-family housing and inventory
constraints forces some buyers to rent, increasing competition and pushing
rents up across the nation. Meanwhile, sales of new construction single-family
homes recently hit a six-month high, rising 14% to a seasonally adjusted rate of
800,000, according to the latest data from the U.S. Department of Housing and
Urban Development.
New Listings decreased 20.6 percent for single-family homes and 19.0 percent
for townhouse-condo properties. Pending Sales decreased 1.9 percent for
single-family homes and 17.5 percent for townhouse-condo properties.
Inventory decreased 43.3 percent for single-family homes and 43.2 percent for
townhouse-condo properties.
The Median Sales Price was up 16.5 percent to $396,000 for single-family
homes and 2.7 percent to $285,000 for townhouse-condo properties. Days on
Market decreased 25.0 percent for single-family homes and 31.4 percent for
townhouse-condo properties. Months Supply of Inventory decreased 43.5
percent for single-family homes and 36.4 percent for townhouse-condo
properties.
As temperatures drop, existing home sales continue to be plentiful, buoyed by
strong demand, low interest rates, and a slight uptick in new listings in recent
months, according to the National Association of REALTORS®. With interest
rates inching upward, and experts expecting further rate increases on the
horizon, motivated buyers are hoping to lock in their home purchases to take
advantage of what are still historically low rates.

Alburgh

Bakersfield

Berkshire

Bolton

Burlington 

Charlotte

Colchester

Enosburg

Essex

Fairfax

Fairfield

Fletcher

Franklin County

Franklin

Georgia

Grand Isle County

Grand Isle

Highgate

Hinesburg

Huntington

Isle-La-Motte

Jericho

Milton

Montgomery

North Hero

Richford

Richmond

Shelburne

Sheldon

South Burlington

South Hero

St. Albans City

St. Albans Town

St. George

Swanton

Underhill

Westford

Williston

Winooski