Our Sales Are Up & the NEK is Experiencing Growth!
According to MLS date, our sales are up approximately 25% from last year. To date this year we have sold about $20,000,000 worth of Real Estate. This is over double that of our nearest competitor. Furthermore, in Orleans county the number of units sold are up about 7%. Keep in mind that every market is different so what you may hear on the news as generalized data, might not apply to all areas!
We are certainly not completely isolated from the troubles of the economy but while other areas are loosing jobs and development has come to a halt, the NEK is moving in a positive direction. Examples of this include projects such as the Jay Peak Resort expansion which is currently constructing a brand new hotel and an indoor water-park. A championship golf course, club house, indoor ice arena, and another hotel are already complete. Other projects that are boosting the local economy include a Biotech Firm which has purchased Real Estate in Newport to open a facility which will employ 200 workers, a pellet plant that is working to open in the old Ethan Allen Plant in Island Pond, Kingdom Trails is developing mountain bike trails to expand their great trail system and there is some good company growth in the Lyndonville and St. Johnsbury areas.
Finally, there are many other developments in the works that may be under way within the next few years. In Newport, Bill Stenger and Pomerleau are working on plans to turn Waterfront Plaza into a Hotel and conference center with retail shops. Dena Gray is researching building a hotel beside the Eastside Restaurant. Doug Spates is evaluating a complete reconstruction of the Spates block on Main Street. Frank Knolls is restoring a building for retail and business space. Finally, Walmart is still talking about coming to Derby.
In an overall down economy, the area has a LOT to look forward to!
