| Single Family | ||||
|---|---|---|---|---|
| Median Sale Price: | Average Sale Price: | Units Sold: | Newly Listed: | Days on Market: |
| $276,500 (+11.9%) | $294,085 (+5.7%) | 348 (-2.5%) | 573 (-12.52%) | 117 (+6.4%) |
| Condo | ||||
|---|---|---|---|---|
| Median Sale Price: | Average Sale Price: | Units Sold: | Newly Listed: | Days on Market: |
| $207,500 (-15.6%) | $243,270 (-13.2%) | 118 (-0.8%) | 178 (+12.7%) | 84 (-29.4%) |
Our 1st quarter market update provides an overview of the real estate activity in early 2018 throughout northwest Vermont (Addison, Chittenden, Franklin, and Grand Isle Counties). Historically, the first 3 months of the year represent the slowest period for sales. With a smaller number of sales, data within this report can be affected in a positive or negative direction without truly representing a trend in the market.
Median prices rose for single-family homes in northwest Vermont during the first quarter with Addison and Chittenden Counties showing strong increases. Despite a reported decline in median price, which brought pricing back to 2016 levels, Condos still remain a popular option among purchasers looking for ease of maintenance in their home. The number of condos coming on the market increased as a result of new construction in cities such as South Burlington and Williston.
While the number of properties sold dropped year over year, this is a reflection of the limited inventory on the market during the end of 2017 and early 2018. Chittenden County posted an 8% increase in units sold after a weak 1st quarter in 2017.