Spring has finally sprung, and what a beautiful weekend with temperatures near the 70’s in April, all we can say is wow! Soon the daffodils will be coming up, the landscape is turning green and buyers are turning out to look for a home in the spring real estate market. If you have been thinking of a home or camp on Lake Champlain or one of the many small lakes in our area, now is the time to look. Give our team a call today.
The real estate market has popped early this year after one of the mildest winters on record. Buyers have been out in force and have placed 261 single family homes and 135 condominiums under deposit through end of March. We have already seen 300 single family homes and condominiums close in the first quarter and condos had an 8.5% increase in number of sales over 2015.
The number of homes on the market is down 9% from last year, which is creating multiple bids on properties that are well priced and in good locations. The recent interest rate hike by the Federal Reserve has not had a negative impact on this spring market. Further rate increases are on the horizon, however rates have been stable- 30 fixed rates remain affordable in the 3.5% range with zero points.
I can say that the long slow recovery has started to really build steam here in Northern Vermont. Here at Nancy Jenkins Real Estate we have sold or pended over 83 properties through mid-April and we are on track for another great year of helping folks buy, sell or invest. Call us today for a free market analysis of your home or to schedule an appointment to discuss your purchase options or the value of the property you want to see.
Have a fantastic spring!
We are moving too!
Come visit us at our new office location in late April.
Our new address will be 140 Kennedy Drive, Suite 102, South Burlington. VT
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