Sales Statistics for 2012
The State of Real Estate: Sales Statistics 2012
Picket Fence Preview sellers doing really well
488 Sales reported in 2012, up 43% from previous year
2013 sales on pace to surpass 550 based on YTD results!
How the data are collected: Customers voluntarily notify Picket Fence Preview either by phone, online or in-person when they sell. Since we rely on self-report data we are dependant on our customers taking the time to inform us. Some people get busy with the move and despite the best of intentions fail to let us know of their sale. So there are probably many more sales that have occurred that are not reported here, meaning that all the figures reported here understate the actual number of sales in 2012 attributed to PFP advertising, yard sign or word-of-mouth.
Picket Fence Preview recorded 488 sales throughout its coverage area. This was a 43% increase over 2011. The publications serve three general regions broadly described as the Champlain Valley, Northern & Central VT, and Southern VT and the greater Upper Valley of NH. The past several years we have used an assumption of 3 months advertising time as a fair and reasonable amount of time to give the process a chance to work (furthermore, an agent's typical minimum listing agreement is 3 months). In the greater Champlain Valley, which includes Chittenden, Addison, Franklin, & Grand Isle counties, 40% of all advertisers sold in 2012, regardless of how long they advertised. If sellers who advertised 3 months or more are included in the analysis, then the success rate increases to 70%!
The same pattern is seen in Northern and Central Vermont, which includes Washington, Lamoille, Northeast Kingdom (Caledonia, Orleans, Essex), and Orange counties, where 49% of all advertisers sold regardless of how long they advertised. The success rate goes up to 67% among those advertising 3 months or more.
Finally, in Southern VT and NH, encompassing Windsor, Windham, Bennington & Rutland counties in VT, and the greater Upper Valley in NH (Grafton, Sullivan, Cheshire & Merrimack counties), 51.3% of all advertisers sold. Those giving it at least 3 months enjoyed a whopping 74.8% success rate.
Time on the Market
In the greater Champlain Valley, the average time on the market was 65 days in 2012. In Northern Vermont, the average time on the market was 62 days. Southern VT and NH, it was 75 days in 2012.
Of course there is substantial variability in the reported figures with the shortest duration of time on the market being 1 day and the longest 390 days.
We mentioned above that Picket Fence homesellers are doing "really" well. Relative to what? Realtor-listed properties are one comparison. The average time on the market in Vermont with real estate agents in 2012 was 199 days - that's almost seven months (source: nneren.com). The average time on the market with agents in New Hampshire was 135 days.
Of course, all of the people who sold through realtors in 2012 needlessly spent vast sums of money whereas the 488 Picket Fence sellers saved an average of $14,970 per seller (assuming a 6% commission). Not bad, to sell much faster and save money, too!
Price Range
As is typical, a wide range of types of properties and price ranges sold in 2012. The average price of property sold through Picket Fence was about $249,000. The range was from $14,000 to $879,000.
Asking Price to Sales Price Ratio
Picket Fence sellers have enjoyed a relatively high asking price to sales price ration over the 20 years we've been keeping records and 2012 was no exception. The 4th quarter was similar to the entire year with the Champlain Valley sellers reporting receiving 97.20% of asking price, Northern & Central VT 96.34% and Southern VT & NH sellers receiving 99% of asking price.
Sales better in 2012 vs. 2011
44% of all advertisers Sold in 2012 (no matter how long they advertised) which was up compared to 2011 (40%). 71% of all advertisers that advertised 3 months or more Sold (patience is truly a virtue...that pays off too.) (2011 was 70%).
Some sellers opting for long-term rentals or lease with option-to-purchase contracts. In 2012, an additional 35 properties were taken off the market because the sellers obtained renters rather than selling. If you factor these rentals into the success rate, then 72% that advertised 3 months or more Sold or Rented.
Picket Fence Preview for sale by owner real estate Vermont and New Hampshire
