March 2021 Market Report
We appreciate everyone taking the time to read our newsletter each month and hope that it gives you some valuable information about what's going on in the local real estate market as well as with The Malley Group.
I think it is safe to assume that everyone knows that the market for homes in Vermont is at an all time high but even so, some of our sellers have still been pleasantly surprised by the results of their sale.
We have had a few clients who purchased houses less than 3 years ago in Chittenden County who listed recently and sold their home for between $65k and $100k more than their original purchase price.
On the flip side, this has caused a predicament for buyers trying to secure a home since it is clearly a 'sellers' market'. Typically inventory will start to tick up this time of year, with peak inventory usually occurring in June, but so far this year inventory levels are at historic lows thus driving up prices substantially.
December 2020 was the first time since 2014 that we saw double digit gains nationally in home prices year over year in the same month (10.1%). So what does this mean for you, your friends and family?
If you or someone you know is considering buying a home, they need an experienced agent on their side to help them navigate the negotiation process where 10+ offers on one home is more of the normal now and not the exception. Having a talented realtor to guide you through the process of building a strong offer in this highly competitive market is critical.
If you are considering selling it is obviously a great time to do so. If you are even pondering the idea of selling in the next 12 months please reach out to us so we can assist you in starting the process. The first step is to contact us for a free, no-obligation consultation to see what your home's value is in this market. In addition to a Realtor leading you through the process, our Director of Staging will evaluate the home and review improvements which will help position the home for the best possible outcome. Our Staging Specialist has years of experience in working with Sellers to pick the right projects, paint colors, and prepare your home overall.
As always we are here to help you.
Thank you again for your continued support and business.
