The Hartland, Vermont real estate market was very strong in 2019 with thirty-seven (37) sales of single-family homes, up from thirty-three (33) that sold in 2018. These sales translated into a total dollar volume of $12,169,900, the highest amount seen since the recession.
On average, buyers paid closer to seller’s asking prices in 2019 versus prior years. A good metric that demonstrates this is the average negotiating discount, which tells us the % difference between a home’s list price and sale price. The figure was 3.91% in 2019, down from 6.55% in 2018 and an all-time low for the market. To express this differently, 24% of the homes that sold in 2019 did so either at or above a seller’s list price.
Inventory in Hartland has been declining gradually over the past decade and reached its lowest point at the conclusion of 2019. Specifically, there were just thirteen (13) homes actively listed for sale on Dec. 31, 2019, down from a post-recession high of thirty-seven (37) that were listed on the same date in 2010. To further emphasize the significance of this reduction: At the conclusion of 2010 the thirty-seven (37) properties that were listed translated into roughly 27 months’ worth of inventory. At the end of 2019, the thirteen (13) homes actively listed translate into just 4 months’ worth of supply should the pace of buying this year match last year. In short, many new listings will need to come on the market this Spring to satisfy buyer demand.
In regard to the broader real estate market in the region as a whole, the Greater Woodstock market area – comprising Woodstock and the six towns that touch it (including Hartland) - had one of its best years in well over a decade. In total, there were 242 sales of single-family homes, nearly matching the record-setting 244 sales that transacted in 2017. The town of Woodstock was the leader in the 2019 strength, but several of the area towns – namely Hartland, West Windsor and Bridgewater – also saw more homes sold/closed in 2019 than in 2018. Supply of single-family homes continued to decline for nearly every town in the market.
Charts illustrating the above information can be found below, followed by a complete list of all thirty-seven (37) properties that sold in Hartland in 2019.
A list of all thirty-seven (37) properties that sold/closed in Hartland in 2019 is below.