Low Interest Rates + Low Inventory = A Super Strong Seller’s Market!
As we settle into 2020, recent real estate trends have continued. Very low interest rates have kept buyers in the hunt. As of December, inventory of Townhouses and Condos for Sale was down a whopping 27%!!! At the end of 2019 there was a 1.9 month supply of homes for sale, far below the 6 month supply threshold which is considered a balanced market (NVBR December 2019 Chittenden County Statistics). http://www.nvbr.com/wp-content/uploads/2013/market-statistics/dec-2019/Chittenden-County.pdf.
With a limited construction pipeline of new homes and low interest rates predicted by many for the foreseeable future, it appears likely that we’ll remain in a market of constricted supply. In short; A very strong Seller’s Market! This is particularly advantageous for the owners of existing Chittenden County, VT Homes.
If you’re curious about how current market conditions have impacted the value of your home, I’m offering a Free Market Valuation to homeowners to kick off 2020! Contact me today if you’d like to schedule an appointment! Click on the link above or email me at www.condoguy.com