Our market wrapped up another strong and steady year, with gains in both pricing and number of transactions in 2013. A growing and diverse professional base, boosted by vibrant local companies such as Dealer.com, is helping to drive demand for residential and investment properties.
Sales of residential units – mostly single-family homes and condominiums – jumped 12.3% across Chittenden, Addison, Franklin and Grand Isle counties. Median sale pricing also improved, with properties selling for 2.2% more than in 2012.
Despite a rise in mortgage rates, consumers recognize that rates are still near historic lows. With rates expected to rise again in 2014, our Agents report some homebuyers are motivated to purchase properties to lock in favorable terms.
While inventory levels have tightened from the summer months, more sellers are feeling optimistic about the market. That’s helped boost inventory slightly when compared with 2011, when the economy was in recovery mode.
Our Early 2014 Market Report also offers insights into the competitive market for multi-family properties, which is attracting investors from in- and out-of-state. Our report also analyzes trends in the $1-million-plus luxury market, which includes both grand country estates and pristine waterfront properties.
Because Northwest Vermont offers a wide range of price points – from luxury estates to single-family homes below $200,000 – and supply-and-demand characteristics, it’s important to educate yourself about each town’s specific trends. Our goal is to help our customers make savvy financial decisions by providing insightful market intelligence.
Please take a moment to read through the report’s highlights or contact one of our skilled Realtors about their in-depth views on the market. As our Agency handles more real-estate transactions than any competing office in Northwest Vermont, we are committed to providing unparalleled services to our customers.
Please take a moment to read through the report’s highlights or contact one of our skilled Realtors about their in-depth views on the market. As the leader in Northwest Vermont’s real estate market, we are committed to providing unparalleled services to our customers.