Our region, which proved an oasis of stability during the recent national housing slowdown, last year witnessed strong demand for residential property. Yet as within any real estate market, demand often varies from town to town, and our goal is to provide homebuyers, sellers and investors with the information they need to make informed decisions.
Sales of residential units – single-family homes, condominiums and mobile homes – jumped 16.3% across Chittenden, Franklin, Grand Isle and Addison counties. Reﬂecting a stabilizing economy, the median sales price was little changed. Pending listings – or homes that went under contract in 2012 – rose 14.4%, signaling increasing consumer conﬁdence.
Burlington, lauded for its vibrant arts scene and lakeside setting, enjoyed especially robust demand, with sales of residential units surging 42%. With thriving businesses such as Dealer.com and Seventh Generation, the Queen City continues to attract relocating professionals, while a diverse employment base and growing student population is prompting more investors to consider buying multi-family homes.
Our Early 2013 Market Report also provides insights into the ﬂourishing multi-family market, as well as the region’s luxury market, with its growing demand for waterfront properties and country estates.
Please take a moment to read through the report’s highlights or contact one of our knowledgeable Realtors about their in-depth views on the market. Our goal as the leader in Northwest Vermont’s real estate market is to provide unparalleled services to our customers.