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Reading Vermont Real Estate Market Report - Third Quarter, 2018

Reading VT Real Estate

 

The Reading Vermont real estate market had an exceptional, record-breaking first three quarters of 2018 with sixteen (16) sales of single-family homes, up 128% from 2017, and up 77% from any other year on record.

 

Equally interesting, inventory in Reading has been steadily declining over the past four years – with just seventeen (17) homes actively listed for sale on October 1 this year, down 45% from the highest point in 2015. 

 

The most likely explanation for the increased number of sales in Reading this year, and the subsequent decline of inventory, is found by examining what is going on in the town of Woodstock. Woodstock is the central hub of the area, with dramatically more annual sales (and more inventory) than any of the six towns that touch it. Many buyers, specifically second home owners, begin their search for houses in Woodstock, which has seen a major decline in inventory over the past several years and is now at its lowest point since post-recession highs (down 50%). This creates less options for buyers and the very likely possibility of increased prices for homes that tend to sell the most – those under $500,000. As a result, we believe this is causing buyers to look outwards, and explore, consider, and buy in neighboring towns they may not have paid attention to otherwise. In addition to Reading, there has been a similar trend of increased sales and declined inventory observed this year in West Windsor, Pomfret, Barnard, and Hartland.

 

The following chart shows historical sales from Q1-Q3 in Reading from 2004 through 2018. The second chart shows the number of homes that were actively listed on October 1, from 2013 through this year.

 

Reading VT Real Estate

Reading VT Real Estate

 

 

A list of all 16 properties that sold/closed in Reading YTD 2018 is below.

645 VT 106 Route, Reading, VT

$30,100

4157 Route 106, Reading, VT

$72,000

946 Route 106, Reading, VT

$85,000

2868 Brown Schoolhouse Road, Reading, VT

$120,000

192 Flat Iron Rd, Reading, VT

$168,000

78 Crown Point Drive, Reading, VT

$223,940

258 Town Farm Road, Reading, VT

$227,950

48 Park Circle, Reading, VT

$229,000

882 VT 106, Reading, VT

$237,500

6610 Tyson Road, Reading, VT

$240,000

3615 Tyson Rd Road, Reading, VT

$268,000

1169 Twenty Mile Stream Road, Reading, VT

$280,000

463 Curtis Hollow Road, Reading, VT

$280,000

718 Tattle Street, Reading, VT

$281,500

1400 Grasshopper Road, Reading, VT

$500,000

253 Tyson Road, Reading, VT

$500,100

 

 

 

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