Maui’s real estate boom has been ‘very well-controlled’
Vermont realtor David Hickey said he’s seen a boom in sales for homes in the Pacific city’s suburbs, including his own, which he attributes to the city’s strong job market and the citywide economic recovery.
“I think the trend in terms of sales is very well-regulated,” he said.
“We’re seeing more people coming in to buy homes, but the demand for them is still very strong.
We have lots of people who are just looking to put their families first and be more affordable than ever.”
Hickey said the city has had a strong economy since the city opened its doors to the public in 1976, but it’s also seen some of its most expensive homes built on the East Coast, where the cost of homes has skyrocketed.
“We’re going to see the average price of a home in Vermont jump a little bit, but we are not going to be able to sustain that,” he predicted.
The real estate market in Vermonters most expensive city has been boosted by the influx of people seeking to move out of the state, especially in the West Valley, where home prices have skyrocketed, and some of the most expensive houses have been built.”
I would be very surprised if we see a large uptick in sales in Vermouth.”
The real estate market in Vermonters most expensive city has been boosted by the influx of people seeking to move out of the state, especially in the West Valley, where home prices have skyrocketed, and some of the most expensive houses have been built.
Hickey believes a strong local economy will help drive demand in the area, which is currently experiencing its strongest job growth in 30 years.
“There’s a lot of opportunity in Vermintown, especially around West Valley,” he noted.
“It’s very well controlled.
I think it’s really a very well managed market, and it’s going to continue to grow.”
But even as Vermont is seeing a surge in home sales, Hickey says the real estate bubble is still a concern.
“In terms of the price, it’s probably not as much as it used to be.
But I think Vermont has some of these properties that are under-utilized, and there’s just a lot that needs to be done,” he explained.
“In Vermont, the average value of a house in the city is going up.”
“There are a lot more properties that need to be put up.”