Multi-Family Home Market Results

24-28 Orchard Terrace, Burlington, VT ~ 4-unit Multi-family in a prime student rental neighborhood with 12 bedrooms.
Multi-Family January-December 2022 
Median Sale Price:Average Sale Price:Units Sold:Days on Market:
$490,000 4.0%183 -25.0%204 -32.9%54 -8.5%

The multi-family market continues to provide purchasers with solid and predictable investment opportunities. In northwest Vermont, the median sale price rose 14% and in Chittenden County – where 75% of the multi-family sales occur – prices increased by 9.4%. Once again, these increases are driven in large part by strong demand from local and regional investors, lack of inventory, and the increases in rents for the 2022-2023 cycle. Rents had been stable the previous 2 years as landlords held off on increases during the pandemic.

The Chittenden County rental vacancy rate remains below 1%, and despite several new developments coming to the market, locally we still suffer from a lack of available rental properties. Well-located and well-maintained properties, as usual, continue to draw the most interest and are selling quickly and, in many cases, at or above list price.

Chittenden County$525,000 9.40%136-22.70%155-29.90%39
Addison County$312,500 -15.00%16-20.00%20-20.00%109
Franklin County$258,000 11.60%28-33.30%26-51.90%103
Grand Isle County$385,000 300.00%3-50.00%$3-25.00%12