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Vermont's Real Estate Outlook in Chittenden County

Looking ahead to the New Year is an exciting, yet thought-provoking exercise for the real estate market. Everyone is wondering how things look for us in the near future. Taking a quick snapshot of this last month (December) of 2009 to December of 2010, for all of Vermont, we see a few things that are telling according to information obtained from the Northern New England Real Estate Network. First of all, new residential listings were down this year from last year for the month by almost 14 %. That is good news for sellers having less competition on the market. Sales for the month were up 13% for the same category. A great step in the right direction for sure. For the condominium market in all counties listings for December were again down, but by only 2.27%. Sold listings were down 28% which may prove that more people are taking advantage of the low interest rates to acquire single family homes. All in all, it may not be such a horrible outlook. We will be looking at the entire year for a complete analysis in a few weeks. Stay tuned and we will let you know how the market faired in 2010 compared to 2009. I know for a fact, that my business was way up.

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