Multi-Family Home Market Results

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.