After 2 years of increases activity, land sales settled down in 2019.

10.1 acre parcel mixed level open field and woodland, within biking distance of Charlotte village. Waste water permits pending.  MLS# 4312692
Land    
Median Sale Price:Average Sale Price:Units Sold:Newly Listed:Days on Market:
$100,000 +14.0% $136,711 -8.7%196 -3.9%443 -4.3%291 +1.4%

After posting increased sales for the past 2 years, land sales settled down in 2019. There still remains plenty of options for purchasers looking to right-size their lifestyle, and build a new, efficient home – or for investors wanting to own their small piece of Vermont for future development.  

With a longer turnaround time and typically higher costs from land purchase to home completion, new construction may not be an option for many buyers. Some homeowners, with time and resources, have found building a viable option. We have begun to see their prior homes come to market as they move to their completed houses.

Our Agents have reported inquiries from investors across the country seeking land with soil ideal for hemp production. According to the Vermont Agency of Agriculture 7,800 acres of land has been registered for hemp cultivation—a 137% growth over 2018. While it remains to be seen whether the market demand for hemp and therefore agricultural land will remain hot—a lack of hemp processors has proved to be a roadblock.

Land across Vermont has long been used for agriculture—mostly for milk and maple syrup production.

Land SalesMEDIAN SALE PRICEVS 2018UNITS SOLDVS 2018NEWLY LISTEDVS 2018DAYS ON MARKET
Chittenden County$139,000 3.00%$8218.80%135-7.50%247
Addison County$70,000 0.00%$53-13.10%100-18.70%413
Franklin County$66,650 19.00%$38-17.40%15012.80%197
Grand Isle County$89,000 12.70%$23-17.90%58-4.90%324