Most people think that it is better to sell your home in Vermont during the summer months when the temperatures are more inviting and the landscape is greener and full of floral colors. While historically this may have been true, this winter's real estate market (like so many other things) is going to be quite different than it was in the past.
Right now interest rates are at historically low levels. While the number of new listings has slowed considerably since the summer, the number of buyers motivated by these low interest rates has not. There are many buyers who are eager to buy a home and they rather not risk waiting until next summer when interest rates may be higher.
In addition to low interest rates, many younger people have started once again to prioritize buying a home. Over the past decade we saw a decline in the percentage of people that said that buying a home was important to them. However, with the recent changes in remote work environments and the public health concerns, many younger people are once again saying that buying a home is important.
These younger buyers are motivated as much by the monthly budget as they are by the overall price of the home. While rents have not decreased in Vermont, the monthly cost of owning a home has gone down dramatically. These buyers recognize this divergence and are eager to reduce their monthly budget by becoming a home owner.
If you are considering selling your home do not wait until next summer. We believe that those sellers who take advantage of the favorable real estate conditions this winter will likely be able to sell their home for more than they will next summer when there is more competition.
I think we all understand that 2020 is just a different year and the real estate market this winter will be no exception.
Email us at info@flatfeevt.com to learn how you can maximize your sale price this winter.
