"I will provide the best service possible for every client I represent... I will always remember that to have a winning relationship with my clients, we must always have a mutual goal. I will never lose sight that my integrity, loyalty, understanding, accountability and creativity are what make me stand out from the real estate masses."
Nancy Jenkins, CRB, CRS
PRUDENTIAL REALTY MART
120 Kimball Ave., Suite 110
South Burlington, VT 05403 |
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The difference between ordinary and extraordinary--is that something extra.
Vermont’s economy has been waiting for recovery and 2003 began the delivery. Job
growth has begun, median family income is up to approximately $56,000, and the
unemployment rate is down to 4% and dropping.
The national economy is showing signs of growth, and the stock market has demonstrated
strong increases with most indexes up 25% from last year. It is going to be a
very good year to invest in real estate. Take advantage of historically low rates to find
just the right home (or vacation home) for your family—or build up your real estate
investment portfolio.
2003 THE YEAR IN REVIEW • Average Prices by County
| Chittenden County |
$255,022 |
up 11.5% (from 2002) |
| Addison County |
$192,503 |
up 14% |
| Franklin County |
$154,412 |
up 14.1% |
| Lamoille County |
$283,904 |
up 30.4% |
| Grand Isle County |
$173,057 |
down 3% |
The highest average sale prices were in Charlotte (at $493,445), and Shelburne (at
$318,364), where higher-priced lakefront sales continue to drive prices higher. Shelburne
has competition from both South Burlington (at $297,858), and Williston (at $291,712),
where new construction and resale homes remain strong.
The average condominium sale in Chittenden County increased 4.4% to $164,933 and
the median price was $139,500—making condos a reasonable alternative for first-time
buyers.
The January 2004 issue of Smart Money Magazine notes that unlike many areas of the
country which are overvalued, Vermont real estate is “fairly valued” (home prices are in
balance with family income).
Kiplingers Magazine notes that the median price of a home in Burlington is $166,417
and that 2002-2003 appreciation was 3.1%, and appreciation from 1998 to 2003 was
35.5% cumulative.
Our survey of local appraisers notes that the average appreciation rate was in the 8-10%
range for 2003 in Chittenden County for single family homes and condominiums.
My outlook for 2004 is for continued economic well being for our market area (the entire
State of Vermont), as well as the nation. The job market will continue to recover and
grow, bringing greater prosperity to Vermont families and an increase in the number of
incoming relocation moves. Appreciation should be strong in 2004 with rates going up
slightly but not enough to slow or significantly impact residential real estate growth.
We are pleased to have assisted over 215 families with their moves in 2003. Our team
has expanded to bring you unmatched service, including a full time Technology
Manager. We recognize that each of our client’s needs are unique. Our commitment is to
fulfill your needs with both cutting-edge technology and “The Best Marketing Available.”
If you need Real Estate assistance or information, or if 2004 is your year for a move or
investment purchase, we look forward to working with you, your friends, co-workers and
your family.
Our best wishes for a safe, happy and prosperous 2004
Nancy & The Jenkins Team
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TOLL FREE: 888-567-4049