The housing market in Vermont has been battling low inventory for months. In 2022, new listings in Chittenden County were down 18% from 1498 in 2021 to 1241 in 2022. There were 112 homes on the market in November, the most for the year. In 7 out of 12 months, the Vermont real estate market had an inventory below 100 homes. Despite the low inventory, the market recorded a strong seller’s status which continued into 2023.
According to the New England Real Estate Network (NEREN), the average sales price for single-family homes increased significantly in Addison, Chittenden, Franklin, and Grand Isle Counties in 2022. Chittenden County’s average home sale price increased by 13.78% from $521,293 to $593,129 while the average sale price for condos in the County saw a 20.48% from $323,415 in 2021 to $389,667 in 2022.
The highest average sale prices were recorded in Shelburne ($1,008,869), Charlotte (at $955,369) & South Hero (at $905,257). Shelburne, Charlotte, and South Hero have some of the most expensive homes and lakefront properties in the Vermont real estate market which tend to weigh the averages higher. Only a few real estate companies and agencies can be trusted today and for residents in Vermont, Nancy Jenkins Real Estate has not only weathered the storms of change rocking the Vermont real estate market but achieved significant milestones.
In 2022, Nancy Jenkins Real Estate closed 154 homes, helping families from across Vermont, the United States, Canada, and Europe with their real estate goals. While many agencies seemed to grapple under the severe conditions besetting the real estate market, Nancy Jenkins was on top of its game, providing the highest quality of real estate services to Vermont residents.
“The last few years we’ve ping-ponged between a really aggressive market and a cooling market,” said Kelsey Houle, Director of Operation, NJRE. “With more economic stability, we believe there would be an overall balance to the market. Here in Vermont, we always see a milder reaction to any market shift. Some markets across the country are seeing drastic cooldowns. We are not seeing that in Vermont.”
As for the future, Nancy Jenkins Real Estate hopes to continue serving clients in Vermont where we have seen an increase in home values, bidding wars that are increasing selling prices, and a severely limited inventory. Nancy Jenkins Real Estate’s connections, experience, and local knowledge give them an advantage with home buyers and sellers.
About Nancy Jenkins Real Estate
Nancy Jenkins is the undisputed all-time sales leader in residential sales in Vermont. She and her team have closed over 5000 properties and over $1.26 billion in sales since 1994. Nancy has consistently ranked first or second in sales volume and homes sold for over two decades. She began her successful real estate career in 1981 and holds both the CRB and CRS designations.
Nancy was President of the Northwest Vermont Board of Realtors in 2001 and was an NVBR director from 2002 to 2007 and from 2013 to 2014. In 2010, she received NVBR’s Distinguished Service Award. Nancy was honored to be named the NVBR Realtor of the Year in 2012.
For more information, please visit www.nancyjenkins.com.
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Phone: 802-846-4888
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Website: https://nancyjenkins.com/