The Pomfret, Vermont real estate market saw three (3) sales of single-family homes during the first half of 2019, down from seven (7) sales during the same period in 2018. While significant, we believe this decrease is due to limited inventory rather than any reduction in buyer demand.
Like Woodstock and other nearby towns, Pomfret has been following a trend of decreasing inventory over the past 5 years and is now nearly at its lowest point since 2014. We first observed this inventory decline early last year in Woodstock alone, before the effect ultimately pushed out into surrounding towns such as Pomfret, Barnard, West Windsor, Reading and Hartland.
To be specific, at the onset of the second quarter this year there were just eleven (11) houses on the market compared to eighteen (18) homes on the same date in 2018. Further, of the eleven (11) homes actively listed at the start of the second quarter, just three (3) were priced under $600,000, compared to twelve (12) on the same date in 2018. While an influx of new homes have come on the market in the past months (including those listed for under $600,000) it appears to be too late to have influenced first half sales. As of this writing there were twenty (20) homes active listed, with nine (9) listed for under $600,000.
On July 1 there were three (3) properties active under contract – likely to close in the third quarter of this year.
Charts illustrating the above information can be found below, followed by a list of properties that closed in Pomfret during 1H 2019.
A list of properties that sold/closed in Pomfret during 1H 2019 is below.
| 478 Hidden Ridge Road, Pomfret, VT | $210,000 |
| 107 Wild Apple Road, Pomfret, VT | $570,000 |
| 5869 Pomfret Road, Pomfret, VT | $575,000 |
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