Picket Fence Sales Results for 2014
Sales Statistics for 2014
$17,670 = average savings for each Picket Fence seller in 2014!
Picket Fence Preview sellers doing really well
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 2014 attributed to PFP advertising, yard sign or word-of-mouth.
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). Therefore, 3
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 79%!
Overall, 58% of all Champlain Valley advertisers sold in 2014, 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 46 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 70.4% among those advertising 3 months or more.
Overall, 49% 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 3 months
experienced a 77.6% success rate.
Overall, 59% 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 76
days in this region).
Time on the Market
In the greater Champlain Valley, the average time on the market was 46 days in 2014. In Northern Vermont, the average time on the market was 71 days. Southern VT and NH, it was 76 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 351 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. (Interestingly as of 2014 agents no longer publically disclose their performance statistics??, one can assume that they are at least as disappointing as in 2013).
Of course, all of the people who sold through realtors in 2014 did not save money whereas Picket Fence sellers saved an average of $17,670+ 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 2014. The average price of property sold through Picket Fence was about $294,505. (For comparison the average price sold with realtors in VT was $215,000 statewide in 2013 - the agents don't publish their sales data any longer). The range of property sold in Picket Fence in 2014 was from $46,000 to $795,000.
Asking Price to Sales Price Ratio
Picket Fence sellers have enjoyed a relatively high asking price to sales price ration over the 22 years we've been keeping records and 2014 was no exception. Champlain Valley sellers reporting receiving 97% of asking price, Northern & Central VT 95% and Southern VT & NH sellers receiving 96.6% of asking price.
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
