April 2024 Vermont Market Update

Along with the sunshine and greenery that's starting to pop, the local real estate market is warming up as well!

Noteworthy Highlights:

• Last month, new listings were up 6.67% from April of last year and 10.8% from just last month. It's certainly felt like there's been some more new inventory, which will help to spark more buyers to start looking again.

• More homes are going under contract, which makes sense since more are being listed. Pending sales went up by 17% year-over-year.

• The median days on the market dropped 20% from last month down to just 8 days, but is still sitting slightly higher than it was last April. Anything under 10 days is great for sellers and means that homes are selling quite quickly, so buyers will want to make sure they are prepared and ready to act when the right house comes along. If you need help getting your ducks in a row, let us know!

• The average sales price creeped up quite a bit from what it was in March - 14.55% higher to be exact, and rose almost 4.6% from April of 2023. Tripling the number of sales above $1M from last month was a factor in this jump.

• Currently, buyers are only paying an average of about .17% over list price instead of over 1% that they paid last year.

Want to know more about the current market, where it's headed, and what your options are? Or just want to chat about real estate in general? Reach out, we'd love to talk further!

Curious about how much your home is worth in the current market? Find out using our free home value tool.