Addison County Market Results

Single-Family Q1 2023
New Listings	Units Sold	Median Sold Price	Days on Market
52 (-33%)	47 (-11%)	$325k (-2.11%)	10 (+43%)

Condos Q1 2023
New Listings	Units Sold	Median Sold Price	Days on Market
4 (+0%)	3 (-57%)	$525K (+74%)	0

 

The first quarter of 2023 was challenging for the housing market in Addison County, Vermont. The county saw a significant drop in the number of new listings, with a decline of around 33% compared to the same period last year. This limited the options available to potential buyers and contributed to an overall decline in sales. In fact, the number of homes sold in the county dropped by approximately 11% year-over-year. The median sold price for homes in Addison County also decreased by around 2% compared to the first quarter of 2022. This is not a reflection of a drop in home values, but more a change in the mix and limited number of properties that closed during this period. Despite these declines, Addison County remains an attractive area for homebuyers due to its scenic countryside and vibrant communities. It will be interesting to see how the market evolves throughout the rest of the year and whether the shortage of available inventory will continue to be a challenge for both buyers and sellers alike.

• The housing market in Addison County, Vermont, experienced a challenging first quarter in 2023, with a significant drop of approximately 33% in new listings compared to the same period last year. This limited the options available to potential buyers and contributed to an overall decline of around 11% in sales volume.
• Despite the challenges faced by the housing market in Addison County, the median sold price for homes only decreased by around 2% compared to the first quarter of 2022, suggesting that demand remains strong in this segment of the market.
• With limited inventory and fewer options available, it is likely that buyers will continue to face increased competition for available properties, increased prices and bidding wars in many cases. However, the market remains attractive to buyers looking for scenic countryside and vibrant communities, and it will be interesting to see how the market evolves throughout the rest of the year.

	NEW LISTINGS	VS 2022	UNITS SOLD	VS 2022	MEDIAN SALE PRICE	VS 2022	MEDIAN DOM
Addison	1	5	3	3	$529 K	$530 K	71
Single Family	1	5	3	3	$529 K	$530 K	71
Condo	0	0	0	0	$0	$0	0
Bridport	5	2	3	1	$260 K	$290 K	37
Single Family	5	2	3	1	$260 K	$290 K	37
Condo	0	0	0	0	$0	$0	0
Bristol	5	5	4	8	$267 K	$320 K	6
Single Family	5	5	4	8	$267 K	$320 K	6
Condo	0	0	0	0	$0	$0	0
Cornwall	1	2	1	1	$270 K	$550 K	146
Single Family	1	2	1	1	$270 K	$550 K	146
Condo	0	0	0	0	$0	$0	0
Ferrisburgh	5	6	4	3	$628 K	$411 K	5
Single Family	5	6	4	3	$628 K	$411 K	5
Condo	0	0	0	0	$0	$0	0
Granville	1	0	1	1	$590 K	$333 K	5
Single Family	1	0	1	1	$590 K	$333 K	5
Condo	0	0	0	0	$0	$0	0
Middlebury	11	16	7	9	$365 K	$302 K	4
Single Family	8	14	5	4	$306 K	$334 K	7
Condo	3	2	2	5	$587 K	$302 K	0
Monkton	3	5	2	6	$412 K	$408 K	7
Single Family	3	5	2	6	$412 K	$408 K	7
Condo	0	0	0	0	$0	$0	0
New Haven	1	4	2	2	$281 K	$372 K	26
Single Family	1	4	2	2	$281 K	$372 K	26
Condo	0	0	0	0	$0	$0	0
Orwell	5	2	3	1	$299 K	$134 K	37
Single Family	5	2	3	1	$299 K	$134 K	37
Condo	0	0	0	0	$0	$0	0
Panton	1	4	1	1	$335 K	$310 K	3
Single Family	1	4	1	1	$335 K	$310 K	3
Condo	0	0	0	0	$0	$0	0
Ripton	1	0	1	0	$285 K	$0	5
Single Family	1	0	1	0	$285 K	$0	5
Condo	0	0	0	0	$0	$0	0
Salisbury	2	4	2	4	$301 K	$304 K	47
Single Family	2	4	2	3	$301 K	$279 K	47
Condo	0	0	0	1	$0	$535 K	0
Salisbury	2	2	4	3	$213 K	$275 K	48
Single Family	2	2	4	3	$213 K	$275 K	48
Condo	0	0	0	0	$0	$0	0
Vergennes	7	9	7	8	$300 K	$335 K	7
Single Family	6	7	6	7	$315 K	$345 K	16
Condo	1	2	1	1	$300 K	$275 K	0
Weybridge	4	5	2	2	$450 K	$325 K	19
Single Family	4	5	2	2	$450 K	$325 K	19
Condo	0	0	0	0	$0	$0	0
Total	56	82	50	60	$326 K	$325 K	8
Single Family	52	78	47	53	$325 K	$332 K	10
Condo	4	4	3	7	$525 K	$302 K	0