The Real Estate Market in our area has been hot and is remaining hot. The sizzler of a market is rewarding sellers with multiple offers and prices that are higher than we have seen before. There are new top of the market priced sales regularly. This is difficult for today’s buyers as they often must make 5 or more offers on different homes before they are successful in acquiring that special home for their purchase. The lending world is still looking at great rates. Yes, prices are up but with the low rates for mortgages, the monthly cost is still manageable. We recommend that you take advantage of this market with exceptionally low rates. As I write this Barb McHenry of Fairway Mortgage has a 2.875% rate. A 30-year mortgage of $400,000 at that rate would be $1656 a month. These rates continue to be the best we have seen in years.
In Chittenden County, the number of single-family homes available as of July 1 was 127 with 53 condominiums available. The average sales price is up at $502,879, last year it was $453,133. The same first 6 months of this year shows the number of closed single-family homes up at 523 from last year’s 468. With the increase in deposits that we are seeing I expect we may see more homes sold in 2021 than in 2020.
Summer in Vermont has so many opportunities. Take a sunset cruise on The Spirit of Ethan Allen, visit one of our many State Parks, or perhaps take a day hike on the Long Trail. Enjoy the beaches on Lake Champlain for swimming, boating, or kayaking. Support your local farmers where you can get the freshest vegetables, fruits, and meat. A Vermont vacation may be your plan for this year, know that you are helping our local economy recover from last year’s pandemic hardships.
This is the 24th year we have awarded the Nancy Jenkins Scholarship, which provides $1,000 in tuition support for two college-bound high school seniors. I am so proud to be supporting education for our youth and cannot believe we have been doing this for 24 years! We were delighted to receive the applications, all from teens showing a terrific determination to succeed in their life goals. Congratulations to our 2021 Winners. It is our honor to help our young people learn and grow and we wish them much success in their studies and their futures.
If this is your year for a move, call now! We look forward to helping you achieve your dreams.
This Month’s Coupon:
Burlington – $515,000 -Luxury Burlington flat at the corner of College and Battery. A beautiful brick building overlooking waterfront park and boardwalk and blocks from Church Street. Welcome home to this open concept flat featuring a wall of windows making the living/great room cheerful and sunny. Relax in your favorite reading chair or step onto the balcony and enjoy a cup of morning coffee on your garden patio. Gleaming Brazilian cherry floors throughout with tiled kitchen and baths. Large living space and separate dining, kitchen with stainless steel appliances. 2 bedrooms including a primary featuring an en-suite full bath and separate walk-in closet. Stacking washer and dryer for your convenience and 2nd full bathroom with shower. This unit features garden level access and includes additional space in back that could serve as more outdoor living. There is elevator service, secure entrances out to College and Battery, and amazing gardens and landscaping. Two garage parking spaces on the same level and locked basement storage to store your year-round gear to enjoy Burlington’s bike path, the marina and area parks. Amazing location just down from UVM right in the heart of Burlington’s amazing shopping, culture and charm. Click Here For More Information
Special Thanks to Friends Who Sent Us Their Friends!
Marina Cibuc & Vadim Sterbate, Meg Wilson, Lily Baker, Roger Preis & Kim Rotunda
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