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Chittenden County housing market among the hottest in the country

“There’s still a lot of competition in the entry level price range.”

The Burlington and South Burlington area is ranked among the hottest real estate markets for October 2022, according to Realtor.com.”It’s low supply and high demand,” Real estate agent Krista Hoffsis said. “Every Realtor will tell you they have a list of buyers as long as their arm and they’re looking for listings.”Hoffsis is with Four Seasons Sotheby’s International Realty in South Burlington. She said it’s true, the market is hot. Right now, she has plenty of buyers, many from out-of-state, but not enough listings to show them. “There’s still a lot of competition in the entry-level price range so that’s anywhere from $350,00 to $500,00,” Hoffsis said. “That’s where we’re seeing the most multiple offer situations and less time on market.”Hoffsis said “creampuff homes,” which are ones with little to no renovations needed, in the entry-level price range aren’t staying on the market for more than two weeks. The average is about 10 days, but usually, they’re gone by the weekend. Buyers are also paying over the asking price most of the time. She also recommends that buyers have a prequalifying letter from a lender to help make their offer more appealing.

BURLINGTON, Vt. —

The Burlington and South Burlington area is ranked among the hottest real estate markets for October 2022, according to Realtor.com.

“It’s low supply and high demand,” Real estate agent Krista Hoffsis said. “Every Realtor will tell you they have a list of buyers as long as their arm and they’re looking for listings.”

Hoffsis is with Four Seasons Sotheby’s International Realty in South Burlington. She said it’s true, the market is hot. Right now, she has plenty of buyers, many from out-of-state, but not enough listings to show them.

“There’s still a lot of competition in the entry-level price range so that’s anywhere from $350,00 to $500,00,” Hoffsis said. “That’s where we’re seeing the most multiple offer situations and less time on market.”

Hoffsis said “creampuff homes,” which are ones with little to no renovations needed, in the entry-level price range aren’t staying on the market for more than two weeks. The average is about 10 days, but usually, they’re gone by the weekend.

Buyers are also paying over the asking price most of the time. She also recommends that buyers have a prequalifying letter from a lender to help make their offer more appealing.