LandVest's President, Joseph Taggart, shares his expertise on the housing shortage in the US and the attempt to accommodate the newest generation of buyers.

High-End $2,000,000+ Market Highlights

• Inventory up 6% (133 vs record low 125 last year).
• Sales volume down 13% (203 vs 234 last year).
• Top sale: $15,100,000. 959 SeaView Ave, Osterville.
• Cape Cods high-end market continues to perform strongly despite low inventories, negative
  economic factors, and diminishing COVID-driven
[...]

January 2024 Buyer & Seller Activity Survey: Optimism Defines the First Expert Survey of 2024

LandVest's President Joseph Taggart provides his expert insight on forecasting residential home sales as we head into 2024.

LandVest had another productive year in 2023, closing nearly $800 million in sales within our Institutional Land Group. We represented our clients across 19 states transacting almost 280,000 acres of land. The market was mixed in 2023 across sectors with strong demand for scaled institutional forestland portfolios, while the market for retail and mid-sized land properties softened.

The age-old dilemma: Should you buy, or should you hold off? Should you sell, or should you wait?

Vermont's real estate market is changing. Sales of homes over $1 million decreased in 2023 by 6.5% compared to the peak the year before. Buyers placed a bigger discount on homes that needed work due to high building costs and a shortage of [...]

Last quarter we addressed the crosscurrents in the real estate market: tight inventory, sellers frozen in place by their existing low mortgages, buyers still searching for the life they want, millennials continuing to come into the market.

Now the tide is turning:  The high water of the COVID-era seller's market is retreating.  The ebb tide is leaving fewer buyers in the waters and sellers more exposed to navigational [...]

High-End $2,000,000+ Market Highlights

• Inventory up 13% (197 vs record low 174 last year).
• Sales volume down 16% (143 vs record high 171 last year).
• Top sale: $15,100,000. 959 SeaView Ave, Osterville.
• Cape Cods high-end inventory is imporiving but historically low.
• Multi-year contractor lead times hamper sales of renovations and tear-down
• [...]