“How is the Vermont real estate market really doing?” I hear this question all the time. People think that with all the foreclosures and doom-and-gloom reports on the housing market that it’s still a bad time to move real estate. With all the sour economic news in our faces everyday – on television, on the web, in newspapers, on the radio – are there any bright spots? YES! The Vermont real estate market is healthy, thank you. Property is available for the ready and able buyer and sales are happening consistently.
Rural Vermont Real Estate Market is Healthy
In our small rural Vermont towns, such as Jericho and Underhill, properties under $320,000 are selling at a steady rate. If a home is in good showing condition – clean and in good repair – it is an especially hot commodity. Interest rates are very low, and buyers are aware that now is the time to buy. Sellers need to be aware that it is still a buyer’s market, so they need to list their homes at an attractive price.
The downside is we have at least two years’ worth of high-end inventory, from $365,000 to $790,000 still on the market. If you own a house in this price range, you will need to set a very appealing price, or you will sit on it for a long time, and eventually you will get an offer much less than you hoped for.
Talk seriously with your realtor about what your house is worth in today’s market, be proactive, and prepare your house – fix problems, paint areas that need it, and stage it for the first impression!
Take a look at my website, Pleasant Valley Real Estate, and you will see a diverse offering of homes for sale in the Jericho and Underhill area. If you see something you like, contact me and we’ll take a tour.
If you’re ready to list your house, I’ll work hard for you to determine an appropriate price and get that house sold in 2013!