What’s Driving the Vermont Market?
As we’ve seen throughout the year, homes continue to sell quickly – on average within 36 days from list to contract.
While the last year of recovery following the pandemic has spotlighted the high demand for real estate, the reality is this trend of high demand and not enough supply has been building in Vermont and nationally for years.
Here are a few reasons why:
- Millennial buyers, the largest generation by population, are on track to make up the highest percentage of home buyers this year. While many may be first-time buyers, they have purchase power built up from reducing college debt to saving while living with parents and benefiting from the best mortgage rates in years.
- Housing has created wealth like never before. Homeowners have lived in their homes longer and, with the current increases in sale prices, they are finding more equity than ever before. According to the recently released “A Look at Wealth” by Coldwell Banker, between higher returns on stocks and 401ks and increased home values, many can finally buy, build, or relocate to their dream home.
- Vermont is desirable. Let’s be honest. Those of us who live here have known that! The quality of life and our shared appreciation for fill in your own blank here (environment, food culture, recreation opportunities, etc.) continue to make Vermont a great place to live and raise a family.
Resource for HR Professionals and People Moving to Vermont
Check out the new Moving to Vermont section on the #1 local real estate site, HickokandBoardman.com! We’ve worked with local human resource professionals and know what people are most interested in when moving to Vermont. Now there’s a go-to resource that has it all.
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