More Buyers are Extending their Property Searches to Addison County

This lovely 4-bedroom Colonial will inspire you. New Haven | MLS# 4601501
County Averages
Median Sale Price:Units Sold:Days on Market:
$224,450 (+4%)254 (0%)192 (-11%)

With tight inventory in Chittenden County, more buyers are extending their property searches to Addison County. The county is also experiencing demand for high-end properties, such as lakefront estates, and from professionals who are moving to the county and seeking mid-priced properties. 

Local employers such as Middlebury College and UTC Aerospace are hiring, helping to keep market trends steady.  The Addison County median sale price rose 4% during the first 9 months of the year, while the number of sold units was unchanged from a year ago.

Stable inventory

  • The county has about 11 months of available inventory, little changed from a year earlier.
  • First-time homebuyers are looking for homes in the sub-$250,000 price range, although our Realtors note that this segment has the most competition from buyers.
  • Sold properties are requiring an average of 115 days on the market, down slightly from 122 days a year earlier.

Village Living

  • Buyers are interested in living near towns, such as Middlebury and Bristol, as well as close to ski areas such as Sugarbush and the Middlebury Snow Bowl.
  • Even though Middlebury remains one of the busiest towns for sales, transactions declined 38% during the first 9 months of the year. Pricing slipped 9%, as buyers sought lower-priced inventory.
  • Sales in Ferrisburgh jumped 43%, although buyers sought out slightly lower-priced inventory. The median sale price slipped 3% to $266,500.
  • Towns such as Vergennes and Bristol continue to attract buyers who want to live near amenities and each town boasts a great mix of restaurants and stores, our Realtors note.
  • The median sale price in Vergennes jumped almost 10% in the third quarter. Inventory in Bristol has declined from 17 months a year ago to about 11 months today.

Land and Luxury Sales

  • Land sales have jumped 64% this year through September. The stronger economy and tighter inventory levels are prompting some professionals and retirees to custom-build homes. The median sale price for land rose 15% to $84,000.
  • The county has recorded five luxury sales of more than $800,000 this year, making it the second-busiest county for high-end sales after Chittenden County. With lakefront property and mountain estates, luxury buyers have plenty of options.

 CBHB_Oct2016.indd