Current Market Report
The Waterbury, Vermont real estate market for single-family homes showed notable changes in Q2 2023 compared to the same period in 2022. Limited inventory played a significant role in influencing sales activity, while an increase in average and median prices demonstrated the market's resilience despite challenges.
Waterbury, VT, land sales saw notable changes in Q2 2023 compared to the same period in 2022. Despite a limited number of land sales in the previous year, the market displayed improvements in sales volume and days on market, while average and median prices experienced declines.
The Waterbury real estate market showcased positive developments in both land sales and single-family homes during Q2 2023. For land sales, there was an increase in the number of transactions, and the days on market significantly decreased, indicating growing interest and activity in the land market. However, the decline in average and median land sales prices can be attributed to various market factors and the limited number of land sales in the previous year, which may have influenced pricing trends.
In contrast, the single-family home market in Waterbury encountered challenges with limited inventory during Q2 2023. The decrease in the number of sales and new listings indicates a competitive landscape for buyers. Nevertheless, despite these constraints, the market remained robust, as evidenced by significant increases in average and median home prices, demonstrating the region's desirability and strong market conditions.
Outlook for Q3 2023
For the Waterbury real estate market, Q3 2023 is likely to see continued changes and competitive conditions for both land sales and single-family homes. The decrease in days on market for land properties is a positive sign for land sellers and buyers, indicating potentially quicker transactions.
Buyers seeking land properties in Waterbury should be vigilant due to the limited inventory, which may lead to increased competition. On the other hand, for single-family homes, buyers should be prepared for a competitive market, and sellers should carefully consider pricing strategies to attract potential buyers.
The desirability of the Waterbury region is expected to persist, potentially driving continued appreciation in property values for both land and single-family homes.
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