| County Averages | |||
|---|---|---|---|
| Median Sale Price: | Units Sold: | Newly Listed: | Days on Market: |
| $310,250 (+115.5%) | 16 (0.00%) | 59 (+15.7%) | 229 |
Grand Isle’s property market refocused on slightly higher-end properties in the first quarter of 2016 after buyers last year were drawn to mid-priced homes. As a result, the median sale price rose 55 percent to $310,250 from last year’s median sale price of $200,000. On a year-over-year basis, the median sale price more than doubled.
Still, the number of transactions was unchanged from a year earlier, which shows steady demand for properties in the lake island county. As the smallest real estate market in Northwest Vermont, one or two transactions can have a big impact on pricing and demand trends in Grand Isle.
Southern Comfort
Properties in the southern section of Grand Isle County have been attractive to buyers who work in Chittenden County, given the proximity to I-89.
One Luxury Sale
Typically a draw for high-end buyers seeking waterfront property, Grand Isle’s luxury market tends to slow in the winter months. One luxury sale was recorded in the quarter, an $815,000 waterfront property with views of the islands and Green Mountains.
A Small Market
As Grand Isle is the smallest real estate market by volume in Northwest Vermont, a few sales can have a big impact on median sale prices or volume.
Five land sales were recorded in the first quarter, compared with just two a year earlier. The median sale price more than doubled to $109,900.
