More balanced, transitional VT real estate market while still slightly favoring sellers.
Rising Inventory. 1,180 single family homes, up 31.4% from a year ago. 696 New Listings, up 28.7%
% of list price received: 97.1%, down 1.2%.
27% of homes selling above the list price, down markedly from a year ago.
Median sale price holding at $450,000 vs May of 2024.
Still relatively elevated mortgage rates restricting demand. 30 year fixed notes around 6.25%, 15 year around 5.25%
Longer average time on market at 71 days, up 23 days. Less pressure on buyers to act immediately.
Fewer competing offers and bidding wars.
Strategic, competitive pricing is key.
More property inspection and other contingency encumbered offers.
If you have any inclination to list and sell your Vermont property, acting sooner than later should yield better results.
Call Maple Sweet Real Estate at 802-793-1515 to schedule a complimentary market analysis and put things in gear.