Spring is a hot time for the Vermont real estate market. If you’re wondering, “when does the spring real estate market start” the answer is that it can start as early as mid-January or early February. The spring market runs until around the beginning of May. The earlier you start looking for a home, the better off you’ll be! The Vermont market is competitive, so you’ll want to be prepared and partner with the best real estate firm in the area (hint: it’s us!)
Perks of the Spring Market for Buyers
Just because it’s going to be a seller’s market doesn’t mean there won’t be any perks for you as a buyer!
Mortgage rates are at an all-time low for homebuyers. Now is the time to buy if you want low rates on your future home. Prices are higher than usual, but rates are lower than ever, so take both factors into consideration when shopping for your Vermont home.
The market booms in the Vermont springtime. As a buyer, this means you get to tour more homes in beautiful spring weather, rather than in the freezing temperatures and snow. Sellers know that spring is a hot market, so more of them list their homes on the market. This gives you options and allows you to check out more properties. Sellers are actively looking for buyers in the springtime, so they’ve most likely fixed up their home with an extra coat of paint and made some small repairs, so there’s less for you to take care of upon moving in!
Challenges to Anticipate
Spring 2021 in Vermont is forecasted to continue to be a seller’s market. COVID-19 caused many people to reevaluate their living situations and there has been a population shift to Vermont. Lucky for you, Vermont is a great place to be with low COVID-19 rates compared to the rest of the country, low crime rates, and stellar school systems.
Vermont home prices have increased over the last year, but they reflect an increase in the home’s value. Having your offer accepted in this market can be tricky, but that what our agents are here to help with. We look forward to helping you navigate the market and score your dream home!
As more people are coming to Vermont to buy homes, inventory is decreasing. Developments are in the works, but it all depends on timing. Not to worry, this just means you will have to partner with a creative agent who stays connected within the market and is skilled at pairing listings with their clients. Having a real estate agent with a wide network of connections is more important now than ever.
Do you want to learn more about what to expect this spring in Vermont real estate? Are you still wondering when does the spring real estate market starts in Vermont? Reach out to one of our agents for clarification, or to start your home-buying journey. We love living in Vermont and we want to share that experience with you! Contact Josiah Allen Real Estate today.