Northwestern Vermont Real Estate Market is Active and Strong

Vermont real estate market

This beautifully remodeled colonial on five acres in Underhill is priced to sell at $588,000.

My business, Pleasant Valley Real Estate, serves the communities of Underhill, Jericho, Cambridge, Jeffersonville, and Richmond, Vermont. In never fails that everyday, someone will ask me, “How is the real estate market these days?” I am happy to tell all those inquiring minds that the Vermont real estate market is active and strong.

Here is why I know the Vermont real estate market is active and strong:

  • In 2012, sales saw a 26.9% percent increase over 2011, which means the number of houses sold in 2012 increased by nearly 30% last year.
  • Pending sales are up 19.3% during the same period. This refers to the number of contracts that were written in 2012, but have not yet closed. They could very well turn into completed sales.
  • Inventory is down 29.7% from one year ago. A reduced inventory is an indication of two things: all those houses sold, or some sold and others were taken off the market.
  • Median sales price grew 2.8% from December 2011 to December 2012. This is also an indication of two things: Either sellers are getting highers price for their houses, or the inventory includes more high-end homes.

All this activity has made the real estate environment exciting, and has inspired buyers and sellers alike. Add to this the fact that mortgage interest rates are starting to climb means real estate is changing from a buyer’s market to a seller’s market.

So, if you have been thinking about selling your home, 2013 is a good time to put it on the market. And if you’ve been thinking about buying a house, you better hurry up. Now is the time to buy! Either way, selling or buying, contact me and I’ll help you close your deal!

The above information comes from the Northwestern Vermont Board of Realtors, of which I am a member. NVBR recently released its real estate market statistics for December 2012. The information is derived from data contained in the Northern New England real estate network and covers Chittenden, Franklin and Grand Isle Counties.

Vermont real estate market

Pleasant Valley, Underhill, Vermont, with Mount Mansfield in the background.

 

 

 

Posted in Pleasant Valley News.