Real Estate Market

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Featured Listing

For Sale: $410,000

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Summer 2017

Summer weather finally comes to the northeast in early June. With the warmer weather our real estate market is also heating up, and the number of May home deposits increased 18% over last year. We saw the beginning of the year start out slower than expected for both Northern Vermont and many other areas across the country. Although we are a small state and tucked away in the North, we follow many of the national trends.

The number of homes available in most of the nation are in short supply which helps drive prices higher. Here in Vermont, we have 405 single family homes and 137 condominiums available through June 1st. Good news, in May there were only 376 single family homes and 129 condominiums available, so although it is a small increase, it is an increase. In 2015 there were 639 single family homes and 225 condos versus 2016 when there were 615 and 169 respectively. The combined total Single Family/Condo inventory has dropped from 864 in 2015, to 682 in 2016 and now to 542 in 2017, a 37% reduction in just two years.

The NAHB study of American mobility indicates that this is a trend we can expect to continue. The factors that have contributed to the American homeowner pattern of moving every 5 to 7 years has evolved to now moving an average of every 15 years. Years are based on demographics of both the area and individual populations with 13 years being average for first time homebuyers and 17 years average for trade up buyers. The Northeast leads the nation at 22 years, while in the South and West the average is 13 years. We look at studies that suggest the age of the homeowner and population contribute as factors in longer stays. Upwardly mobile young Americans move more often.

Interest rates remain under 4% and new listings are moving briskly. New construction is readily available in most price points. Now is a great time to move in, move up, or purchase an investment or vacation property. If you know someone who had not been able to sell during the downturn and has rented their home or condo, now is a good time as prices are improving and there is increased demand.

Enjoy the summer and if this is your year for a move, now is a great time to call!

Congratulations to the 2017 winners of the 20th annual Nancy Jenkins Real Estate Scholarship: Kayla White from CVU will be attending Lyndon State College studying Nursing; Bidhya Chamlagai from Burlington High School will be attending UVM studying Nursing. It is our honor to help our young people learn and grown and we wish them much success in their studies and their future.

Scholarship Winner Scholarship Winner

 

Nancy and The Jenkins Team                                                                ©2017 Nancy Jenkins Real Estate

THIS MONTH'S COUPON


This Month's Coupon to Catamount Outdoor Family Center!


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CLIENT TESTIMONIAL and THANK YOU'S

"I was never left wondering what I needed to do and there were zero hiccups. I can now say with confidence that whether you’re selling a fancy lake house or a tiny bungalow you will feel like the Nancy Jenkins team is working for you and you alone. I honestly can’t think of a single thing that could have improved this process or made it any easier. They did all the hard stuff, they helped me make some good informed decisions, and the outcome was far better than I had anticipated. It may be a huge cliche to say this, but I really couldn’t be happier"

- Aaron Collins – May 30, 2017

Friends Who Sent Us Their Friends

Linda Alderman, Kathi & Art Lyle, Barb McHenry, Sara Barboza, Noel Induni, Mujo & Cana

Contact Information

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Nancy Jenkins
Nancy Jenkins Real Estate
140 Kennedy Drive, Suite 102
South Burlington VT 05403
802-846-4888
Fax: 802-846-4899