Distressed properties which declined to 33 % of all sales in May from 45 % in April continue to downwardly affect the median home price because they generally sell at a discount relative to traditional homes. While this figure is still higher than the norm the figure is lower than the 45%-to-50% range Buyers and Sellers experienced earlier this year. First-time home buyers accounted for 29 % of transactions. Many of these first time home buyers are a result of the Obama stimulus package credit of $8,000.00. Buyers looking at homes are up 10 % higher than a year ago. Similar here in Burlington, Vermont and the greater Chittenden County area we are finding that Sellers and moving into the market to list their homes in order to take advantage of the Buyers currently flooding the Burlington, Vermont marketplace. In the month of June The Condo Guy sales team helped 22 people go under contract with the sale of their home. The market conditions are a “perfect storm” right now. Seller’s should be asking themselves are they ready to sell?
| posted by Bill Desautels
P: (802) 655-9100 (800) 639-4520 x217 F: (802) 655-0400 E: condoguy@condoguy.com The Condo Guy – Vermont condo real estate The Condo Guy has been providing advice to buyers |
Filed under: Federal News & Programs, Vermont Condo Market | Tagged: $8000, 8000 tax credit, bill desautels, Burlington, Burlington Vermont, Burlington VT, condo guy, condoguy, condos, first time buyer, homebuyers, obama, Vermont condo real estate, vermont condos, vermont housing, vermont real estate, VT
