|Median Sale Price||Average Sale Price||Units Sold||Newly Listed||Days on Market|
|Single-Family||$289,950 (5.4%)||$322,081 (3.5%)||1,726 (0.8%)||2,654 (-1.2%)||89 (-8.3%)|
|Condos||$226,000 (-1.3%)||$256,243 (-0.7%)||561 (7.7%)||744 (13.1%)||70 (-21.4%)|
Leaves fall from the trees, boats come out of the lakes, and hunters head for the woods. Welcome to fall in northwest Vermont, and welcome to our Fall 2018 Market Report, January – September 2018.
Each quarter, we combine the Multiple Listing Service (MLS) data with the expertise of our agents to offer a recap of real estate activity and trends in the 4 counties of northwest Vermont: Addison, Chittenden, Franklin, and Grand Isle.
Our skilled REALTORS can help you with more specific price points in certain cities and towns. Given our market leading position, we are committed to providing unparalleled service to our clients.
The data through the end of the 3rd quarter is significant in that it includes closed sales for the busiest segment of the year. Traditionally, the “height of the market” is considered late spring through summer. The ongoing story in the national and regional market is the contraction of inventory for sale, so it is remarkable that closed sales through the 3rd quarter faired as well as they did. Closed sales of Single-Family homes remain flat across the region while sales of condos, land and multi-family properties show healthy increases over the same period last year. The median price of sold, single family homes continues to rise while prices of Multi-Family homes surged as investors clamor for properties in a tight market.
With mortgage interest rates increasing recently – and additional increases expected, sellers and buyers would be wise to stay in the market during the 4th quarter of 2018 and 1st quarter of 2019, while properties may be in the most demand and at their most affordable.