First Quarter 2018

Spectacular Main house with 24′ cathedral ceiling, gracious guest house plus rustic cabin on 24 acres with mountain views & pond. MLS# 4674273

 

Single Family    
Median Sale Price:Average Sale Price:Units Sold:Newly Listed:Days on Market:
$276,500 (+11.9%)$294,085 (+5.7%)348 (-2.5%)573 (-12.52%)117 (+6.4%)
Condo    
Median Sale Price:Average Sale Price:Units Sold:Newly Listed:Days on Market:
$207,500 (-15.6%)$243,270 (-13.2%)118 (-0.8%)178 (+12.7%)84 (-29.4%)

Our 1st quarter market update provides an overview of the real estate activity in early 2018 throughout northwest Vermont (Addison, Chittenden, Franklin, and Grand Isle Counties). Historically, the first 3 months of the year represent the slowest period for sales. With a smaller number of sales, data within this report can be affected in a positive or negative direction without truly representing a trend in the market.

Median prices rose for single-family homes in northwest Vermont during the first quarter with Addison and Chittenden Counties showing strong increases. Despite a reported decline in median price, which brought pricing back to 2016 levels, Condos still remain a popular option among purchasers looking for ease of maintenance in their home. The number of condos coming on the market increased as a result of new construction in cities such as South Burlington and Williston.

While the number of properties sold dropped year over year, this is a reflection of the limited inventory on the market during the end of 2017 and early 2018. Chittenden County posted an 8% increase in units sold after a weak 1st quarter in 2017.