Overall, the multi-family market is tight.

This lovely Georgian/Federal house at 342 Pearl Street, Burlington, is steeped in a rich history! | MLS# 4669779
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.