Vermillion offers a wide variety of home styles and sizes. It also boasts two restaurants around a village square perfect for events and neighborhood parties.
Vermillion Home Values
The statistics below show the market trends in Vermillion. The charts are “live” charts which means the data will change monthly and stay current.
Vermillion Average Sales Price
Over the past 3 years there has been a steady increase in the average sales price of single family homes in Vermillion which is good news if you are looking to list your home.
Price Per Square Foot
The average price per square foot is a great indicator of the market trends for Vermillion. As of January, 2016 the price per square foot has been climbing steadily over the last few years. Prices are now over $115 per square foot up from a low of $99 per square foot back in 2013.
Homes for Sale
The number of homes for sale is trending lower. Sometimes this is typical during the winter months. Listing your home for sale in front of other listings can be to your advantage.
Number of New Listings
Knowing whether the current inventory of homes is low or high helps in deciding the timing of putting your home up for sale. If the inventory is low you will not be competing against other listings and your home may sell more quickly. As you can see now would be a great time to list your home for sale as the number of new listings is very low (as of December, 2015).
Number of Months Supply
Here’s another way of looking at the current supply of homes. Vermillion was showing just above a 2 months supply of homes going into January, 2016. This means that if no new listings appeared, all the homes already listed would sell in about 2 months. A seller’s market is when there is less than 5 months of inventory. Balanced market would be between 5-7 months of inventory.
Average Days on Market
No one wants their home to sit on the market for months. That’s why the Days on Market is a great way to set expectations. When Days on Market are increasing it could mean that the homes listed for sale may have been priced higher than they should have been.