Our mid-year report includes data for the first 6 months of 2020, as well as data for the 2nd quarter of 2020 alone. We cannot analyze the trends in the northwest Vermont real estate market without understanding the effects of COVID-19 which struck Vermont in mid-March.
| Single Family January-June | ||||
|---|---|---|---|---|
| Median Sale Price: | Average Sale Price: | Units Sold: | Newly Listed: | Days on Market: |
| $236,000 -7.5% | $261,921 -12.9% | 43 -27.1% | 98 -26.3% | 159 +6.0% |
| Single Family April-June | ||||
|---|---|---|---|---|
| Median Sale Price: | Average Sale Price: | Units Sold: | Newly Listed: | Days on Market: |
| $260,000 +1.0% | $261,079 -17.5% | 23 -39.5% | 60 -39.4% | 194 +33.8% |
The Grand Isle County real estate market has been more adversely affected by COVID-19 than the surrounding counties. With a large second home market, the restrictions on out-of-state travelers likely contributed to the 40% decline in home sales during Q2. The summer months are typically the height of the season for these island towns.
If more sellers list their homes for sale, after considering their individual circumstances, the demand from buyers seeking refuge and affordability can be met. The median and average sale price has fluctuated over the past three years as a result of the relatively small number of sales coupled with the purchase of luxury properties across the county. The changes in pricing are not a result of depreciation.
| MEDIAN SALE PRICE | VS 2019 | UNITS SOLD | VS 2019 | NEWLY LISTED | VS 2019 | DAYS ON MARKET | |
|---|---|---|---|---|---|---|---|
| Grand Isle County Single-Family | $236,000 | -7.50% | 43 | -27.10% | 98 | -26% | 159 |
| Alburgh | $200,000 | 35.10% | 13 | -31.60% | 23 | -48.90% | 181 |
| Grand Isle | $240,000 | -21.30% | 12 | -29.40% | 22 | -12.00% | 172 |
| Isle La Motte | $186,000 | -2.10% | 3 | 0.00% | 12 | -40.00% | 117 |
| North Hero | $302,500 | 23.80% | 8 | -33.30% | 25 | -10.70% | 157 |
| South Hero | $285,000 | -18.00% | 7 | -12.50% | 16 | 6.70% | 116 |