The luxury market (defined in this report as residential sales priced $850,000 and greater) has been affected by economic conditions as well as out of state travel restrictions due to COVID-19. The number of sales declined by 48% over the same period last year and are slightly lower than 2018 levels. The median price increased by 8%, likely a result of the small number of sales as opposed to price appreciation.
| Luxury Homes January-June | |||
|---|---|---|---|
| Median Sale Price: | Units Sold: | Newly Listed | Days on Market: |
| $1,070,000 +8.1% | 15 -48.3% | 69 +43.8% | 122 +1.7% |
| Luxury Homes April-June | |||
|---|---|---|---|
| Median Sale Price: | Units Sold: | Newly Listed | Days on Market: |
| $1,085,000 +8.3% | 8 -56% | 47 +56.7% | 95 -13.6% |
14 of the 15 luxury home sales were in Chittenden County, with no luxury sales in Grand Isle County through June. Now that out of state buyers have more flexibility in traveling to Vermont (with home state quarantine allowed), we expect luxury sales in neighboring counties to increase. Nationally, the luxury market has slowed, but Vermont remains one of the most affordable luxury home markets in New England. With proximity to Boston and New York, plus an international airport, buyers able to work remotely while seeking safety from the crowds of more populated markets, and can find many options in northwest Vermont.
| Address | Town | County | Sale Price |
|---|---|---|---|
| 587 Ridgefield Road | Shelburne | Chittenden | $875,000 |
| 6659 Spear Street | Charlotte | Chittenden | $880,000 |
| 193 Poor Farm Road | Colchester | Chittenden | $885,000 |
| 2751 Thompson's Point Road | Charlotte | Chittenden | $885,000 |
| 208 Meadowood Drive | South Burlington | Chittenden | $887,500 |
| 2687 Greenbush Road | Charlotte | Chittenden | $890,000 |
| 119 Holmes Road | South Burlington | Chittenden | $1,020,000 |
| 1816 Morgan Horse Farm Road | Weybridge | Addison | $1,070,000 |
| 837 Bay Road | Shelburne | Chittenden | $1,150,000 |
| 209 Hills Point Road | Charlotte | Chittenden | $1,165,000 |
| 347 Popple Dungeon Road | Charlotte | Chittenden | $1,239,000 |
| 269 Thorpe Cove Road | Charlotte | Chittenden | $1,550,000 |
| 233 Thorpe Cove Road | Charlotte | Chittenden | $1,630,000 |
| 164 Pheasant Hill Ridge Road | Shelburne | Chittenden | $2,135,000 |
| 3735 Harbor Road | Shelburne | Chittenden | $4,950,000 |