I hope that got your attention... however It is not 2005... but the Local Market
statistics say we are there in Burlington and South Burlington, Vermont!
Big Joe Burrell Stands Watch over the Burlington Square in Perpetuity
Vermont all SF/Condos approx. 15.3 monthsinventory.
Chittenden County all SF/Condos approx. 4.4 months inventory.
Burlington all SF/Condos approx. 2.3 months inventory.
South Burlington all SF/Condos approx. 3.4 months inventory.
I don’t want to just have boring statistics because no one will read my post BUT I do want you to know what's happening in your LOCAL MARKET in Chittenden County Vermont, Burlington Vermont and South Burlington, Vermont.
Take a look at the Great Market Statistics above for Chittenden County.
I will ask a few questions as though I am being interviewed so I can add some anecdote to the statistics.
Dana, what is a balanced market anyway?
I think that anything less than six months inventory is a sellers market. If you get up around 8 to 10 months there is enough inventory for buyers to pick and choose. If you get to 12 to 18 months is a solid buyers market.
Is there a caveat?
Darn right there is. The amount of stale inventory and/or ratty REO’s really dilutes the facts and clouds the results. (Guys and gals that is not the problem here)
How does the caveat change the way you interpret the market Dana?
Well an example would be if 10% of the inventory is over 250 DOM it could be overpriced, a rough REO property or just undesirable in some way. These are probably out of the running so when there are hot properties that come up they get snatched up and may have multiple offers even in a market with 6 months inventory which makes it feel like a strong sellers market.
Are there differences in SF and condos in the same town?
Yes there is...it really depends on several things such as volume and age of the condo stock and is the area a college town with young professionals also? (goes to desirability) SF and condos are running very similar in Chittenden County however the condos in South Burlington and Burlington are both running at 1.2 months inventory.
Both cities have a very nice “stock” of affordable condos because there was a condo boom in the 80’s that are of a size and volume that keeps the prices relatively competitive.
The Benefit of Listing now!!
Just look at the numbers!!! Almost half 40% of the properties listed are currently pending. A little over 2 months inventory on the market... less for condos...
Come on... if you want to sell LIST IT NOW!!! Get off the Fence.
... If you need or want a devoted REALTOR®
call Dana Basiliere @ 802-238-3939 or email Dana@VermontisHome.com
To search homes try my website
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