February 22, 2021
I don’t personally handle real estate transactions, but I can say without any fear of contradiction that the partner in my firm who does (and his three assistants) have been busier in the last year than in the last 25. Residential real estate in the twin states is white hot, as city folks abandon urban America in large numbers. It is not uncommon for houses to go on the market and, within a matter of days, for the owners to receive offers of the listing price (or, frequently, more than the listing price) sight-unseen.
So it comes as no surprise that, as VT Digger reports in this article, sales of Vermont homes priced at $1 million or higher tripled last year. In 2019, there were 112 transactions involving houses valued at $1 million or more. Last year? 313.
And the overall market has shown a startling increase in house valuation. In 2007, the median purchase price for a newly-constructed house in Vermont was $270,000. In 2019, that number had barely budged, at $279,528. Last year that number ballooned to $352,537.
By the way, if you want to purchase my house for $1 million, let’s talk.