Millennials’ Preference will Boost the Sale of Smaller Homes

small homesAs Millennials enter the housing market, we can expect more of the smaller homes to be sold. Panelists during an International Builders’ show’s press conference said that with Millennials, it is not the size of their home; it is the essentials, such as home technology that matters more. This certain preference could have been brought about by the fact that 3 million new jobs were created in 2014 and the reduced down payment requirements of first-time buyers.

According to NAHB Vice President of Research, Rose Quint, all these events led her to believe that more people will come into the market and as younger, first-time buyers, they will demand for smaller and more affordable homes. Other than that, based on the result of two surveys, Millennials will want homes that are energy efficient with master bedrooms, walk-in closets, a separate laundry room, and garage storage. Location-wise, 66% of them prefer to live in the suburbs, while only 10% said they want to stay in the central city.

We are very much aware that builders will build what demand calls for and at this point in time, that’s smaller energy-efficient homes. High-end outdoor kitchens with plumbing and appliances, and two-story foyers and family rooms are out!

Come Check Out Our Open House This Saturday, January 31st!

P1000669

Open House | 633 Piette Meadow Road, Hinesburg
Saturday, January 31st from 1PM to 3PM

Gorgeous, bright and sunny home set on almost 6 acres with a very special horse barn is waiting for you to call home. This dormered cape with an expansive floor plan offers three bedrooms and a large bonus room over the garage. Perfect for a guest or game room. The master suite offers a dual sink vanity and jetted soaking tub for your relaxation. The first floor features beautiful hardwood and tile floors throughout, a fully updated eat-in kitchen, office, formal living room with fireplace, dining room and a 2-story post and beam cathedral ceiling family room with a massive field stone fireplace and wood stove insert. Enjoy sitting or bbqing on the large decks that run the full length of the house. Don’t forget the 2 car garage, convenient mudroom, full walk-out basement and plenty of storage! The yard is professionally landscaped and includes raised bed gardens. This home is set in a quiet country setting in a small neighborhood of like properties. Less than 30 minutes to Burlington!

Directions: From Route 116 turn onto CVU Road. Turn right onto Piette Road. Right onto Piette Meadow Road. Home on left.

Hosting Agent: Tom Martin

For further information regarding our Open Houses, please call (802) 488-3488.
Please click here for more details regarding this property.

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Northwestern Vermont Real Estate Market Update – January 26, 2015

P1000570
Chittenden County
Active: 695
List Price Sale Price SP/LP DOM
Avg $415,933 - 171
Median $339,900 - - 139
Pending: 161
List Price Sale Price SP/LP DOM
Avg $293,560 - - 111
Median $259,900 - - 89
Closed YTD: 53
List Price Sale Price SP/LP DOM
Avg $292,970 $289,915 0.9895723112 119
Median $266,900 $269,900 1.011240165 71
2014 Closed YTD: 54
List Price Sale Price SP/LP DOM
Avg $286,954 $275,746 0.9609414749 77
Median $260,000 $261,500 1.005769231 56
Multi-Family
Active 42
Pending 14
Land
Active 141
Pending 9
Franklin County
Active: 386
List Price Sale Price SP/LP DOM
Avg $225,272 - - 207
Median $199,256 - - 159
Pending: 47
List Price Sale Price SP/LP DOM
Avg $178,328 - - 140
Median $179,000 - - 52
Closed YTD: 17
List Price Sale Price SP/LP DOM
Avg $187,912 $178,559 0.9502267019 152
Median $199,000 $185,000 0.9296482412 57
2014 Closed YTD: 18
List Price Sale Price SP/LP DOM
Avg $207,944 $202,191 0.9723338976 104
Median $209,000 $207,500 0.9928229665 98
Multi-Family
Active 17
Pending 3
Land
Active 123
Pending 1
Grand Isle County
Active: 134
List Price Sale Price SP/LP DOM
Avg $352,555 - - 266
Median $259,950 - - 230
Pending: 10
List Price Sale Price SP/LP DOM
Avg $226,172 - - 216
Median $199,758 - - 230
Closed YTD: 4
List Price Sale Price SP/LP DOM
Avg $269,450 $256,750 0.9528669512 237
Median $281,450 $276,500 0.9824125067 206
2014 Closed YTD: 6
List Price Sale Price SP/LP DOM
Avg $322,333 $302,088 0.9371922825 153
Median $317,000 $312,500 0.9858044164 142
Multi-Family
Active 2
Pending 0
Land
Active 62
Pending 2
Addison County
Active: 282
List Price Sale Price SP/LP DOM
Avg $349,943 - - 226
Median $259,450 - - 156
Pending: 29
List Price Sale Price SP/LP DOM
Avg $247,976 - - 212
Median $189,900 - - 99
Closed YTD: 10
List Price Sale Price SP/LP DOM
Avg $283,480 $265,840 0.9377733879 151
Median $269,450 $256,250 0.9510113194 42
2013 Closed YTD: 14
List Price Sale Price SP/LP DOM
Avg $222,264 $209,879 0.9442779757 141
Median $207,000 $188,650 0.911352657 124
Multi-Family
Active 11
Pending 1
Land
Active 113
Pending 6
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