Fall is here and we are all looking forward to crisp nights, sunny days and changing leaves. Vermont is at its finest with Harvest festivals, apple picking, leaf peeping in the mountains and valleys, pumpkin patch exploring and new house shopping.
The Chittenden County market continues to have low inventory in many price ranges. On September 1st Chittenden County had 482 single family homes and 178 condominiums available for a total of 660 properties compared to 2015 with 961 properties available!
The number of single family homes under deposit from May through August has shown good activity with deposits for that period up 34% over last year. Closed sales through August for single family homes is still lagging behind 2015 but given the increase in deposits, we should catch up by year end. Condominium sales through August are up 6% over last year.
Here at Nancy Jenkins Real Estate we have closed or pended over 180 homes through early September. We are proud to work in one of the best locations in the Country for both beauty and the quality of life. We expect to see a strong fall and winter season and sales that will have the 2016 year ending at or above 2015 levels.
If this is your year to move to a new home, buy a vacation home, or an investment property- now is the time to act as prices are stable. While mortgage rates continue at historical lows, given the improvement in the economy this is destined to change in the near future with the possibility of a rate hike in December.
Give our team a call and be in your new property in time for the holidays!
©2016 Nancy Jenkins Real Estate