The Barnard, Vermont real estate market had a slow start in 2019, with no sales of single-family homes during the first quarter. While initially discouraging, the lack of sales is not necessarily indicative of the rest of the year. Barnard had a strong year in 2018 and based on first quarter data for Woodstock and other adjacent towns, there does not appear to be a market wide slow down.
One likely reason for the sluggish start could be the very limited supply of homes left on the market at the onset of this year due to the record setting number of sales in 2018. At the start of 2018 there were thirty-four (34) houses for buyers to choose from, but just twenty (20) at the start of this year.
In addition, buying activity is always the slowest during the first quarter, when snow covers the ground and cold temperatures discourages many from wanting to shop for houses. Analyzing historical data for Barnard from 2004-2018 shows that, on average, just 13% of the total sales for a year occurred during the first quarter. This past winter was particularly challenging with the repetitive heavy snowfall-to rain-to ice cycles that occurred several times.
As of March 31, there were three houses active under contract or pending. Two of the properties currently under contract are Snyder Donegan listings – one that is listed over $1 million, and the other just shy of $1 million.
Charts illustrating the above information can be found below.
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