The Spring Market
And an update on the Big House in a Small City
Cherry Valley Lilacs
The weather may say otherwise, but spring is here. Buyers are calling, new properties are hitting the market, and everyone wants to know “what’s happening in real estate?”
Short answer - no one can say for sure. There’s enough uncertainty in the economy, and the world, that it’s hard to predict what people will choose to do with their money. Some may choose to sit tight and see what happens. But it’s a sure bet that some, at least, will decide now is the time to get a place in the country. And others will decide it’s time to leave.
One thing I’m seeing is people who were pandemic buyers are now tiring of short term rentals and either selling, or transitioning to full time leases. That’s honestly good news for the local market, as the short term rental business really took a bite out of the already-limited number of properties available for buyers who hoped to live here full time. And rentals? They simply didn’t exist. That may be loosening up.
The other continuing trend is the influx of climate refugees - people fleeing drought, fires, or excessive heat where they live. Some of them are coming back after moving away.
As of this morning, there are four village properties for sale in Franklin, the tiny arts town we call home. That’s a lot. At least three of them have been short term rental or investment properties, but all of them have benefited from some love and attention. A small town like Franklin needs full time residents, as our little school is hanging on by its fingernails. If I told you the size of our graduating class, you wouldn’t believe me. Yet it’s the heart of any town, and nearby villages which closed their schools have also lost the businesses that were once there.
So far, our new listings this spring are country properties that would be perfect for part timers or city expats. One of them is a tiny house on a gorgeous piece of property. Another that’s coming up is a downright luxurious off grid log cabin outside of town. But there are some historic beauties in the pipeline, too, old houses that make our hearts sing. If your dream is an old fashioned general store, or even an art gallery, there’s one coming up if you’re willing to put in the work to bring it up to snuff.
There are some beautiful land parcels, each with a stream or a pond, either on the market now or coming soon.
Oh - and the Big House in a Small City? A climate refugee fled a too-hot state and claimed it. We are promised it is going to be the most beautiful Christmas House in the city this year. We cannot wait!