Multi-Family Market

Multi-Family real Estate Market 2016
Turn-key 3 unit investment property. MLS#4480526    |   Renovated Burlington 4 + Unit! MLS#4442453
Multi-Family Averages
Median Sale Price:Units Sold:Newly Listed:Days on Market:
$351,000 (+12.3%)29 (45%)39 (-30.4%)84

With an extremely low vacancy rate and a growing and diverse professional population, Northwestern Vermont continues to draw local and out-of-state investors to its multi-family property market.

Across the four counties, the number of sales jumped 45 percent, while the median sales price gained 12.3 percent to $351,000 during the first quarter. Our agents are finding that well-priced, well-located properties are selling quickly, especially given the tight inventory for these homes.

Inventory remains an issue for the multi-family market, given that there’s more demand from buyers than can currently be met by sellers, especially in Burlington and neighboring Winooski. Given the interest from investors, our agents note that it’s an excellent time to list multi-family properties for sale.

The following are details about trends impacting the multi-family market:

2016 Multi-Family Real Estate


Winooski Remains Attractive

Investors continue to search for multi-family properties in this revitalized mill town, thanks to demand from professionals who like the atmosphere and lower costs than Burlington. Multi-family sales in Winooski rose to 5 transactions in the first quarter compared with 3 a year ago. A lack of inventory continues to be an issue.

Higher Vacancy Rate

The rental market’s vacancy rate has seen some easing in recent months due to new apartment building construction. In December the rate stood at about 3 percent in Chittenden County, or almost double the rate from a year earlier. Our Realtors note that it hasn’t impacted pricing for multi-family properties, although rents are stabilizing.

Burlington Shifts to Lower Price Points

In the city of Burlington, multi-family property sales jumped 71 percent to 12 transactions in the first quarter, the median sale price slipped by about one-fifth to $372,500. Investors are searching for smaller multi-family properties, which is shifting the price-point lower.

About 3,500 new units are either planned or have been built recently in Chittenden County, which may bring the vacancy rate higher and continue to stabilize rents, according to Allen & Brooks’ December report.
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