Strong buyer demand and steady pricing were the hallmarks of the summer months in Northwest Vermont’s real estate market, continuing the healthy trends witnessed earlier this year and in 2012.
Sales of residential units – mostly single-family homes and condominiums – jumped 16.6% across Chittenden, Addison, Franklin and Grand Isle counties from May through August, outpacing the 10% growth recorded in the first four months of 2013. Median sale pricing also improved, with properties selling for 3.2% more than a year earlier.
Despite a rise in mortgage rates, consumers continue to express interest buying, with our Agents reporting that many clients recognize that rates remain at historic lows. On top of that, a recovering national economy has boosted consumer confidence, while Vermont’s unemployment continues to decline as employers add jobs.
Our Fall 2013 Market Report also looks at the $1-million-plus luxury market, which ranges from stunning waterfront properties on Lake Champlain to grand country estates. For investors, the report offers insights into the competitive market for multi-family properties.
As the saying goes, all real estate is local, and that’s reinforced by the wide variety of pricing and supply-and-demand trends across Northwest Vermont. Given the variation seen across the region, our aim is to provide homebuyers, sellers and investors with the knowledge they need to make smart financial decisions.
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.