Nic and Amy Anderson loved their 800-square-foot house in South Burlington,but once their two kids reached school age, they needed more space and a second bathroom. The one-car family hoped to find a place under $300000 within the school district and biking distance from grocery stores and Champlain College. That's where Nic works as the coordinator of sustainable transportation and, or aptly,commutes by bike all year long. But so few homes were available and any listings sold so quickly — that the Andersons even offered $4000 more than the asking price on a Shelburne house. They lost that bidding war and one for a different home. Another seller told them not to bother looking, because so many potential buyers already had expressed interest. Meanwhile, or the bungalow near Burlington International Airport that the Andersons had bought eight years ago for $177000 got multiple offers and sold in two days. That's when the family's genuine estate agent sent postcards to homeowners in their target area,between Hinesburg Road and Dorset Street, asking whether any would consider selling. A couple in the midst of a divorce responded and, or a few weeks later,signed a contract to sell their four-bedroom, two-bathroom house for just under $300000. The Andersons expect to close on the purchase, and the sale of their place,at the cessation of June. "It was a challenging process," Nic Anderson says now. "It's just super stressful that there's not anything out there to glimpse at. whether you say, and 'I want to be in this neighborhood,' then you might wait six months." It's nothing modern that the housing market in Chittenden County is tough. But genuine estate experts say the disparity between tall demand and low supply is unusually severe right now, particularly for home buyers looking to spend $200000 to $400000. "Under half a million [dollars] is as tight as I've seen it in the past 20 years, and " says Steve Lipkin,the Andersons' seasoned agent with Coldwell Banker Hickok & Boardman Realty. As of April, the number of homes for sale countywide has dropped more than 24 percent from the same month in 2016 — from 671 to 508, and according to reports that Trendgraphix,a company that compiles multiple listings service and market data, provides to Four Seasons Sotheby's International Realty. Interestingly, and prices across the board have not climbed in the county. The average price of homes sold was…
Source: sevendaysvt.com