If you have been watching the news, reading the paper or listening to the radio you have probably heard nothing but bad news about the real estate market. Fortunately Real Estate is a local business and the Burlington Area Multi Family Market remains strong. Check out the Summer 2011 Northwest Vermont Report provided by Coldwell Banker Hickok & Boardman. This report looked at the months of May through August and broke the report down by towns, areas and segments of the market. In the multi family sector the average sale price in Chittenden County for Multi Family properties increased 17% from $267,485 in 2010 to $314,017 between May and August in 2011. The average days on market also decreased from 97 in 2010 to 78 days in 2011. Contact Us if you are considering buying or selling or if you would like to learn more about the local market.
Blog :: 10-2011
In Freddie Mac's 2011 Economic Outlook they reported an increase in households across the country that are choosing to rent rather than own. This article in Housing Wire talks about how the rise in rentals is positive for the Multi Family market. "In the year ending June 2011, the Census Bureau reported a net increase of 1.4 million households that moved into rental housing, a 4% rise in the number of tenant households." With this increase in households moving into rentals and the low vacancy rate in Chittenden County, now may be a great time to purchase an investment property. While many people immediately think about Multi Family properties when they hear about rentals, single family homes and condos can also be a great investments. Contact Us today to talk about some of the advantages of owning an investment property and capitalize on the increased demand for rental housing.