| Multi-Family | ||||
|---|---|---|---|---|
| Median Sale Price: | Average Sale Price: | Units Sold: | Newly Listed: | Days on Market: |
| $285,000 (-9.5%) | $358,291 (-7.0%) | 130 (-3.7%) | 225 (+6.1%) | 92 (+2.2%) |
Multi-family properties are moving quickly in population hubs such as Burlington and Winooski, where the number of days from listing to closing is now 66.
Despite a 6% increase in units for sale across northwestern Vermont, new inventory remains tight in these key cities. Overall, the multi-family market is tight.
A 4% decline in units sold in 2016, twinned with a couple of higher-priced sales, resulted in a near 10% dip in median sales prices across northwestern Vermont for 2017. This reflects a shift in available inventory, not necessarily a decline in property values.
The number of multi-family properties sold decreased by nearly 4% in 2017, but the number of newly listed units on the market was up by more than 6% — to 225 in all four counties.
Rents have been high in northwestern Vermont, but landlords are starting to feel a pinch as newer multi-family options have become available since 2015, causing a shift in historically low vacancy rates in the area.
