Picket Fence Sales Results for 2013
Sales Statistics for 2013
The State of Real Estate: Sales Statistics 2013
Picket Fence Preview sellers doing really well
559 Sales reported in 2013, up 24.7% from 2012
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 2013 attributed to PFP advertising, yard sign or word-of-mouth.
Picket Fence Preview recorded 559 sales throughout its coverage area. This was a 24% increase over 2012. 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 Southern VT and the Upper Valley of NH, the average time on the market is longer ~115 days, therefore 4 months was taken as a reasonable time period that would encompass the average time-on-market period.
CHAMPLAIN VALLEY: In the greater Champlain Valley, which includes Chittenden, Addison, Franklin, & Grand Isle counties, for sellers who advertised 3 months or more the success rate was 81%! 54% of all Champlain Valley advertisers sold in 2013, regardless of how long they advertised (most that did not sell advertised only one month...still, remarkably successful considering the average time on the market was 55 days in Champlain Valley).
NORTHERN & CENTRAL VERMONT: The same pattern is seen in the tougher real estate market conditions in Northern and Central Vermont, which includes Washington, Lamoille, Northeast Kingdom (Caledonia, Orleans, Essex), and Orange counties, where the success rate was 67% among those advertising 3 months or more. 36% of all advertisers sold regardless of how long they advertised (again most of those that did not sell just advertised one or two months).
SOUTHERN VERMONT & NEW HAMPSHIRE: 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), those giving it at least 4 months experienced a 69.4% success rate. 27% of all advertisers sold regardless of how long they advertised (most just advertised one or two months...just not long enough when the average time on the market is 115 days in this region).
Time on the Market
In the greater Champlain Valley, the average time on the market was 55 days in 2013. In Northern Vermont, the average time on the market was 80 days. Southern VT and NH, it was 115 days in 2013. These numbers reflect the overall more robust real estate market differentially enjoyed by Champlain Valley homesellers.
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 325 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 2013 was 185 days - that's almost seven months (source: nneren.com). The average time on the market with agents in New Hampshire was 121 days.
Of course, all of the people who sold through realtors in 2013 did not save money whereas the 559 Picket Fence sellers saved an average of $16,380 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 2013. The average price of property sold through Picket Fence was about $273,000. (For comparison the average price sold with realtors in VT was $215,000 statewide). The range of property sold in Picket Fence in 2013 was from $22,000 to $899,000.
Asking Price to Sales Price Ratio
Picket Fence sellers have enjoyed a relatively high asking price to sales price ration over the 21 years we've been keeping records and 2013 was no exception. Champlain Valley sellers reporting receiving 97% of asking price, Northern & Central VT 95% and Southern VT & NH sellers receiving 97.6% of asking price.
Sales better in 2013 vs. 2012 and 2011
44% of all advertisers Sold in 2013 same as 2012 (no matter how long they advertised) which was up compared to 2011 (40%). 73.9% of all advertisers (across all three regions covered) that advertised 3 months or more Sold (patience is truly a virtue...that pays off too.) (2013 was 71%; 2011 was 70%).
Some sellers opted for long-term rentals or lease with option-to-purchase contracts, some had deals that fell through due to failuire of their buyers to get financing. These cases were not removed from the dataset and were counted toward the overall N which would decrease the reported success rate figures...meaning the numbers reported here are conservative, better than reported.
Picket Fence Preview for sale by owner real estate Vermont and New Hampshire
Sales Statistics for 2012
