2018 Q1 Real Estate Update

Millenials fix home

2018 1st Quarter Vermont Real Estate Update

 

Nationwide Real Estate Appreciation

 

The Federal Housing Finance Agency (FHFA) is reporting appreciation across the board, nationwide in all markets. The number of homes for sale remains low, while continued consumer confidence has increased the number of prospective homebuyers. The net result of rising demand and limited for-sale inventory is a continued appreciation in home prices.

Vermont Historical 1st Quarter Real Estate Median Sale Price

 

More locally, the Vermont real estate market is consistent with the national trends. YTD total dollar volume of residential sales increased by1.72%, and while unit sales decreased by 2.7% we are continuing to see increases in median sale price, a good indicator of appreciation!

 

 

The Stowe market continues to be strong through the first quarter. Interest and activity remains high in the marketplace. We have also seen a near-record number of condominiums move within the first quarter, with 19 moving as of April 1, 2018.

 

 

Waterbury Single Family Home Market 1st Quarter YTD

We continue to see our neighbors in Waterbury flourish as a satellite community for Burlington and Montpelier. We attribute the slightly low sales volume to extremely tight inventory levels, as demonstrated by the increased median sale price for single-family homes. As we enter the spring and summer expect to see momentum pick up as properties enter the marketplace. On another note, paving on Rte 100 between Stowe and Waterbury is planned for this summer, so be wary of delays when making your travel plans!

Morristown Single Family Home Market 1st Quarter YTD

Morristown has really become quite a gem as the Village flourishes and new businesses move in. Buyers are clearly valuing this flourishing community as the market remains strong and median sale price has risen 10% in the first quarter of 2018 over the first quarter of 2017.

 

 

 

Interest Rates are Rising

 

 

Mortgage rates, however, continue to rise. With rates projected to crest 5% by year-end, we may see a small shift as buyers experience a purchasing-power slide…or will it encourage those on-the-fence to move forward with their purchase?

 

 

 

 

 

 


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