| Northwest Vermont | ||||
|---|---|---|---|---|
| Median Sale Price: | Average Sale Price: | Units Sold: | Newly Listed: | Days on Market: |
| $310,000 (+10.7%) | $450,155 (+39.9%) | 78 (+36.8%) | 98 (-16.2%) | 109 (-0.9%) |
| Chittenden County | ||||
|---|---|---|---|---|
| Median Sale Price: | Average Sale Price: | Units Sold: | Newly Listed: | Days on Market: |
| $377,500 (+13.8%) | $519,974 (+15.4%) | 107 (+23%) | 123 (-12.8%) | 72 (+4.6%) |
Investors continue to show strong demand for multi – family properties especially in Chittenden County which accounts for 65% of the total units closed in northwest Vermont during the 1st six months of the year.
The number of properties listed during the time frame dropped more than 16% and, since 2015, the properties available has declined 38%. Limited inventory coupled with the demand pushed the median price of multi-family homes up 11% across the region and 13% in Chittenden County. A few high-priced sales in Burlington drove the average sale price up to more than $575,000. Despite the building of newer apartment complexes and a slight easing of the historically low vacancy rate – demand is still high from renters. Amenities included in the newer complexes are appealing to tenants – however, these units may come with higher rents. Therefore, investors seek out opportunities by purchasing more traditional, multi-family buildings or single-family properties in neighborhoods to meet the pent-up demand.
