Low Supply of Chittenden County Condos = Seller's Market:
Although the weather has remained wintry cold in Vermont in this early spring 2018, the Vermont Condo Market is beginning to heat up! Demand remains strong as mortgage interest rates remain low if slightly higher than recent years. Continued low inventory of Chittenden County condos is creating pent up demand and supply continues to decrease. Recent Northwestern Vermont Board of Realtors (NVBR) statistics indicate that there is currently a scant 2.6 month supply of condominiums for sale in our region. Conventional wisdom is that a 6 month supply of homes is a balanced market and anything less than that is a seller's market. Anecdotally, there are increasing reports of multiple offers and condos selling above asking price with contingencies being skinnied down to increase the strength of offers.
Can't Find an Existing Chittenden County Condo to Buy? Try New Construction!:
Although finding a condo that you like can feel like a search for green grass among the slush and muck of Mud Season, there are a variety of options for those seeking New Construction. (Click following town names for links to listings): There are New Construction Vermont Condo options currently available in Hinesburg, Williston, South Burlington, Essex, and Jericho
New Carriage Homes like this one in South Burlington offer the maintenance free living of traditional condos, but offer a stand alone structure.
Most new construction Chittenden County Condos are come with a higher sticker price than existing Chittenden County Condos, with little to no room for negotiation but offer cuting edge construction techniques, high-end features like central air, 9ft ceilings etc., increased efficiency and the ability to make many of your own selections on items like flooring, paint color and floorplan.
Contact Us Today!:
Whether you're looking to take advantage of this tremendous seller's market to capitalize on the sale of your VT Condo, or you're in the market to buy an existing condo or something newer, The Condo Guy Team is your one stop shop! https://www.condoguy.com/contact-us/