Buyers back in the market in Addison County

County Averages   
Median Sale Price:Units Sold:Newly Listed:Days on Market:
$215,000 (+2.4%)257 (+14.2%)559 (0.4%)158
A healthier economy and lower gas prices are helping bring buyers back to the real estate market in Addison County.

Middlebury is the county’s most active town for home sales. The number of transactions jumped by almost 29%, while the median sale price rose 8.8% to $225,000.

Some towns, such as Cornwall and Hancock, recorded signifi cant jumps in median sale prices, which is due to the small number of overall transactions. That means one or two expensive sales can have an oversized infl uence in median pricing.

Land sales were relatively steady at 26 transactions, while the median sale price rose 15.7% to $88,500. Some retirees and homebuyers have been seeking land purchases in the county in order to custombuild homes.

A Vibrant Local Economy

Employers including UTC Aerospace, a supplier of aerospace and defense products, and Middlebury College are hiring, helping to draw more buyers into the market.

Lower Gas Prices

When gas prices decline, as they have in recent months, the county becomes more desirable to buyers who work in Chittenden County because commuting costs are lower.

Steady Luxury Sales

With high-end waterfront property, luxury buyers are drawn to the county. Five out of this year’s luxury sales were recorded in the county, including four sales in Cornwall and one in Hancock.

Higher Sales and Pricing

All of those trends helped boost the number of transactions by 14.2%, while the median sales price rose 2.4%.