Activity in the Islands Slows


Median Sale Price:$144,000
Units Sold:16 (-5.9%)
Newly Listed:51 (-12.1%)
Days on Market211
With below-normal temperatures hitting Vermont this winter, home buying activity in Grand Isle slowed to below typical levels. Sales of luxury homes also slowed to a standstill, given that most high-end buyers prefer to look at the county’s waterfront properties in balmier weather. That shifted the mix of home sales to lower-priced singlefamily homes, which comprise the bulk of the county’s residential market. The median sale price for residential properties slipped 41.2% in the first three months of the year, although that includes one low-priced mobile home sale. Excluding that transaction, single-family homes saw their median sale price slip 25.3% to $183,000. Because Grand Isle is the smallest real estate market by volume in Northwest Vermont, a shift in only a few transactions can have a large impact in overall sales and pricing trends.

The county has recorded two land sales in the first quarter, or little changed from the three land sales recorded a year earlier. The median sale price slipped 61% to $50,000.