While we don’t have a crystal ball to see the future of the real estate market, we can assess the current conditions and bring an objective eye to the table. In the past year, our REALTORS^® guided over 130 families through this fast-paced market. They have the area expertise, market knowledge and negotiating skills to guide you home. Here are some of the top questions we’re hearing from clients:

1. Will the housing market shift in 2022?

While there are a number of factors that play into the real estate market, we predict that 2022 will see continued trends of light inventory and high buyer demand. Interest rates are on the rise but remain historically low still making today an opportune time to buy a home.

 

2. Is it true home sellers are getting offers over asking?

The key to selling a home is pricing it at fair market value, from the start, to attract the most potential buyers resulting in showings and offers. This market is competitive with some homes seeing multiple offer situations that ultimately drive up the sales price.

 

3. Shouldn’t I list my home in the Spring?

If you’re considering putting your home on the market don’t wait! While home prices remain high they could decline as interest rates increase and more inventory comes on the market.

 

4. What if I sell my home and can’t find a new home to buy or rent?

We understand the stress of putting your home on the market. The sale can be contingent on certain terms so that your next move can happen. Our REALTORS^® have the experience and negotiating skills to help you reach the closing table and find your next home. 

 

5. So it’s a good time to sell, but what about buying?

Interest rates are rising but remain at all time lows. They are expected to increase throughout the year and with the rise, the amount buyers would be able to afford will go down. Our real estate advocates will help you put your best offer forward and stand out among the competition.

 

6. What is my home worth today?

Your home has never been worth more. Median home prices in Northwest Vermont have risen 16% from 2020*. Dreaming of retirement or your next investment? Now is this time to get the most value out of your home. 

*NVRA Market Report December 2021

Wondering if now is the right time to list your home? You may be surprised. Don't wait to list until the spring, get a free market analysis to find out today!

Considering selling your Vermont property? There are a number of factors to consider when contemplating whether now is the right time. The questions listed below will help you through this process and whether you’re ready for a home that’s larger or in a more desirable location. 

1. Have you built substantial equity in your current home?

Check your annual mortgage statement or call your lender to find out how much you’ve paid down. Usually you don’t build up much equity in the first few years of your mortgage, as monthly payments are mostly interest. But if you’ve owned your home for five or more years, you may have significant, unrealized gains.

2. Has your income or financial situation changed?

If you’re making more money, you may be able to afford higher mortgage payments and cover the costs of moving. If your income has decreased, you may want to consider downsizing.

3. Have you outgrown your neighborhood?

The neighborhood you pick for your first home might not be the same one in which you want to settle down for good. You may have realized that you’d like to be closer to your job or live in a better school district.  

4. Are there reasons why you can’t remodel or add on?

Sometimes you can create a bigger home by adding a new room or building up. But if your property isn’t large enough, your municipality doesn’t allow it, or you’re simply not interested in remodeling, then moving to a bigger home may be your best option. 

5. Are you comfortable moving in the current housing market?

If your market is hot, your home may sell quickly and for top dollar, but the home you buy will also be more expensive. If your market is slow, finding a buyer may take longer, but you’ll have more selection and better pricing as you seek your new home. Ask your real estate professional what they see happening locally. 

6. Are interest rates attractive?

Low rates help you buy “more” house, and also make it easier to find a buyer for your current place.

7. Is the effort and cost of maintaining your current home becoming difficult to manage?

A REALTOR® can help you decide whether a smaller house, condo, or rental would be appropriate.

 

If you answered yes to most of these questions, you may be ready to move and our experienced Vermont REALTORS® are ready to guide you through the process of selling your Vermont residence. Wondering what your Vermont home is worth in your current market? Get a market analysis to find out today! Our experienced Vermont Realtors are ready to guide you. 

 

We don’t have a crystal ball to see the future of the real estate market, but we can assess the current conditions and bring an objective eye to the table. In the past year, our REALTORS^® guided over 130 families through this fast-paced market. They have the area expertise, market knowledge and negotiating skills to guide you home. Here are some of the top questions we’re hearing from clients:

1. Will the real estate market shift in 2022?

While there are a number of factors that play into the real estate market, we predict that 2022 will see continued trends of light inventory and high buyer demand. Interest rates are on the rise but remain historically low still making today an opportune time to buy a home.

2. Is it true home sellers are getting offers over asking?

The key to selling a home is pricing it at fair market value, from the start, to attract the most potential buyers resulting in showings and offers. This market is competitive with some homes seeing multiple offer situations that ultimately drive up the sales price.

3. So it’s a good time to sell, but what about buying?

Interest rates are rising but remain at all time lows. They are expected to increase throughout the year and with the rise, the amount buyers would be able to afford will go down. Our real estate advocates will help you put your best offer forward and stand out among the competition.

4. What is my home worth today?

Your home has never been worth more. Median home prices in Northwest Vermont have risen 16% from 2020*. Dreaming of retirement or your next investment? Now is this time to get the most value out of your home. 

*NVRA Market Report December 2021

Wondering if now is the right time to list your home? You may be surprised. Don't wait to list until the spring, get a free market analysis to find out today!

You are going to want to check out this updated Island Post and Beam Farmhouse located in the Champlain Islands. February's hidden Vermont home was recently renovated in 2021. It's filled with cool places to hang out both indoors and out. The house is set back from the road on an acre and a 1/2 lot and is framed by perennial flower beds and mature trees with a huge wrap-around deck and covered porch to enjoy the Island breezes. The interior of the home is warm and rustic with exposed beams in the living room which includes a fieldstone chimney with a Jotul gas stove to keep you warm throughout the year. The eat-in kitchen has been updated with new stainless steel appliances, quartz counter tops, and hickory cabinets and is filled with beams of natural light through transom windows. Subscribe to our newsletter Island Insights for more Hidden Homes!

The 2021 housing market was one for the history books. After three consecutive months of increases recently, existing home sales are on pace to hit their highest level in 15 years, with an estimated 6 million homes sold in 2021 according to the National Association of REALTORS®. Sales prices reached new heights, inventory hit rock bottom, and homes sold in record time, often for well above asking price. Mortgage rates, which began the year at historic lows, remain attractive, and homeowners who choose to sell in the coming months can expect to see plenty of buyer activity due to pent-up demand during the pandemic.

New Listings decreased 2.2 percent for single-family homes and 10.5 percent for townhouse-condo properties. Pending Sales remained flat for single-family properties but increased 9.8 percent for townhouse-condo properties. Inventory decreased 46.2 percent for single-family homes and 54.2 percent for townhouse-condo properties. The Median Sales Price was up 14.3 percent to $400,000 for single-family homes and 29.9 percent to $315,000 for townhouse-condo properties. Days on Market remained flat for single-family homes but increased 2.8 percent for townhouse-condo properties. Months Supply of Inventory decreased 47.1 percent for single-family homes and 55.6 percent for townhouse-condo properties.

Looking ahead, experts anticipate many of the housing market trends of 2021 will continue in 2022, albeit at a more moderate level. Strong buyer demand and inventory shortages are likely to persist over the next year. Home sales are projected to remain strong but will be tempered by the limited supply of homes, higher sales prices, and rising interest rates, with the Federal Reserve planning multiple rate hikes in the new year. Price growth is expected to slow somewhat as a result, but affordability will likely remain a top constraint for some homebuyers.

Wondering what your home is worth in your current market? Get a free market analysis today!