| MEDIAN SALE PRICE | VS 2019 | UNITS SOLD | VS 2019 | NEWLY LISTED | VS 2019 | DAYS ON MARKET | |
|---|---|---|---|---|---|---|---|
| All Counties | |||||||
| Multi-Family | $350,000 | 0.30% | 164 | 14.70% | 214 | -8.20% | 87 |
| Chittenden County | $417,300 | 7.00% | 108 | 17.40% | 138 | -4.20% | 57 |
| Addison County | $250,000 | 13.60% | 15 | 114.30% | 20 | -13.00% | 220 |
| Franklin County | $229,750 | 8.50% | 40 | -4.80% | 51 | -16.40% | 111 |
| Grand Isle County | $179,900 | -44.10% | 1 | -50.00% | 5 | 0.00% | 475 |
The investor market remains strong in northwest VT, mostly driven by low-interest rates and strong equity positions in existing properties for owners. The median sale price of $350,000 was stable across the region with 7% growth to $417,300 in Chittenden County.
The number of units sold grew substantially over 2019, while properties coming on the market continued a year over year decline. Burlington, the largest city in Vermont, accounts for most multi-family sales in the region, boasting an average sale price in excess of $700,000.
According to the recently published Allen, Brooks & Minor Report, the apartment vacancy rate in Chittenden County is the lowest reported in the past six years at 1.1%. As long as tenants can stay on top of their rent payments – some struggling with unstable unemployment – and housing for college students remains in high demand, the desirability of owning multi-family properties in the region will continue.
