Market Statistics in Chittenden County suggest a seller's market for most!!! WHAT??How do we know if it is a seller's or buyer's market? A balanced market is considered a market where you find a six month available inventory.
A seller's market therefore is indicated by less than a six month inventory and a buyer's market is indicated by more than a six month available inventory. Well guess what our recent statistics show in Chittenden County? For homes priced under $350k, it is a seller's market with the inventory showing about 4 month supply. And do you know what else?? Sellers don't know it yet! Which gives you an opportunity to cash in on some great home prices AND low interest rates.
Look at these recent statistics: http://tinyurl.com/cacj6m
What does this mean for the homes that are priced over 351k in Chittenden County? It means that all of those people who are selling their homes under 351k are NOW READY to buy those homes and are, "moving on up" as the Jeffersons would say!!
If you are interested in taking advantage of this moment, I would suggest that you call a lender now and, "lock in" your rate before they go up. Just like gas prices go up as we approach summer... so do the interest rates which means you could save yourself LOTS of money a month down the road by "locking in" today while you shop for your new home. If you wish to see homes within your price range or you have other real estate needs, contact me at mbedard@hickokandboardman.com and I would be happy to be of assistance!
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