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Many experienced real estate agents in Vermont, including those on our Team, will tell you that the past 2+ years have been unlike anything they have ever seen in their careers.
Once Governor Phil Scott’s COVID-caused hard stop of all real estate transactions was lifted on April 20th, 2020, the real estate market has been characterized by unprecedented buyer demand in the form of multiple offers, cash deals with little to no contingencies and property value appreciation at rates nearly double that of local norms.
Several local media sources published anecdotal accounts from Realtors all over the state stating that an influx of out-of-state buyers were suddenly bidding on Vermont property, increasing buyer competition and driving up prices. Nevertheless, there was little data available to support the trend that Vermont was finally reversing the long-standing trend of negative net migration and a declining population.
However, a recent article published on VTDigger.com asserts that the state of Vermont has welcomed nearly 5,000 new residents during the calendar year of 2020. Citing a report published by the United States Census Bureau, the article suggests that an increase in remote workers and “climate change refugees” are two major forces driving the surge in population. While there was no mention of whether or not a similar trend occurred in 2021, our local MLS statistics would imply another net increase is likely.
Click HERE to read the full article on VTDigger.com.
Having been named as the top state to live in for the second year in a row by CNBC, Vermont continues to receive national attention for those looking for a change to their current living situation and lifestyle. Since 1985, we’ve helped thousands of clients buy and sell real estate in Northwest Vermont. As the top-selling real estate Team in the State of Vermont, our goal is to provide you with the local insight, information and resources necessary to make your purchase and/or sale a comfortable, informed and enjoyable experience. Contact us today to learn more about our above and beyond approach to buying or selling property in Vermont.