Market Watch: Current Local Real Estate Stats
Back to school—mid-August to mid-September—is traditionally a quiet time throughout the US, with Realtors worrying why the phones stopped ringing. That didn't happen this year.The real estate market continues to be hot, even as temperatures are cooling off. Low inventory, high demand and low interest continue to drive non-stop activity. Additionally, Americans' increased mobility due to the shift to more remote work and permanent lifestyle changes the last 18 months are also responsible
Current Real Estate Stats for Single Family Homes
As of the evening of September 7, 2021, these are the real stats of Single Family homes for our target market: Bennington, Pownal, Woodford, North Bennington, Shaftsbury, Arlington, Sunderland, Sandgate:
In the past 90 days there have been 91 closings. That's more than one every day!
Currently there are 68 sales pending/active under contract. Did you know… Vermont sign law does not allow the use of “pending” or “under contract” sign riders? This means you may see a lot of For Sale signs, but right now more than half are no longer available..
For active listings, there are 63 homes for sale, which is more than I expected. More choices are a good thing!
Realtors often say the 4th quarter is their busiest. We expect this trend to continue.
This is across all prices ranging from $49k to $4M... so there is something for everyone and every budget. Bottom line is that even in the hottest market, buying a home is a possibility for everyone.
Autumn is a great season to list your home… many buyers want to move and get settled before winter. With tons of prospective buyers still looking for the right place, and high comparable sales driving prices up, there has never been a better time to sell.
Multi Family Sales Also On the Rise
The mutli-family market spiked this year due to a high demand for rentals.If you’re looking to diversify your portfolio with an investment property, now is a great time to invest. Over the past 12 months, there have been 25 sales in our target market (twice as many as the prior year), 5 pending sales, and only seven active listings. Don’t wait… call us today to get your foot in the door and start taking (rent) checks to the bank!
Get Ready to Roll!
If you’re thinking about buying a home, getting preapproved for a mortgage requires good credit, a balanced debt to income ratio, and stable employment.
If you’re self-employed it's more challenging. You’ll need 2+ years of profitable tax returns. While we're not credit counselors, we know great lenders and programs that can help you get positioned for homeownership. All you have to do is ask... we are here to help!
P.S. COVID is still here, impacting our business, so health and safety is paramount. Our staff is fully vaccinated, and we encourage precautionary measures (masks, hand sanitizer, distancing, and stay home if sick) to keep us and our clients safe.
