Blog :: 2019

Spring 2019 Market Update

 

It's not just the weather that's warming up, our local real estate market is coming into spring hot!

The number of closed homes in Quarter 1 2019 is right on track with 2018, but set to rise. With inventory remaining relatively low, sellers are benefitting for having their home on the market for fewer days, and selling for higher prices. This is a challenge for buyers trying to break into the market. We would suggest consulting a loan officer, obtaining a pre-approval and then developing a relationship with a tenacious Realtor who is prepared to write your winning offer.

While the low inventory is a challenge for buyers, mortgage interest rates are remaining low at an average of 4.125% for a conventional 30 year fixed rate. While these rates are still low, it's a great time to buy or to re-finance your existing home! It is possible that interest rates may begin to creep up later in the year, and while only time will tell, it's still advised to act quickly.

Signature Properties of Vermont remains among the Top 10 most productive brokerages in Northwestern Vermont! Our small team is experienced, capable and ready to help you with your home sale or purchase this spring.

Call us any time: 802-872-8881