The Nancy Jenkins Team is here to be your resource for all things real estate! Today we’ll take you through a quick market snapshot as of April 1st, 2021.
Inventory remains low, but that doesn’t mean that new listings aren’t hitting the market. They just aren’t staying active long enough to be counted. As of this morning, there were 88 active single-family homes and 36 active condominiums in Chittenden County. In March we saw 128 new listings for single-family homes and 62 new listings for condominiums. The market is very active! Whether you are looking to buy or sell, we can help navigate you through today’s market.
Deposits are strong with 102 single-family homes going under deposit in March along with 58 condominiums. In March of 2020, we saw 103 single-family homes going under deposit and 63 condominiums. When we compare these statistics to last year, remember that on March 24, 2020, Governor Scott issued a Stay Home, Stay Safe order for Vermont, changing how we could handle business.
The average sales price for single-family homes in Chittenden County for March 2021 is $438,395 compared to $375,539 last year. Remember that interest rates continue to remain low, today we saw a rate of 3.125%. A half-percent increase in a mortgage rate can add around 7% to your monthly payment reducing your buying power. If you are in the market for a home, call us today!
Whether you are buying or selling, who you hire matters. Let us be your real estate resource!