Month: July 2025

Land Market Report 2025

Loading the Elevenlabs Text to Speech AudioNative Player…

By CountyMedian PriceVS 2024Units SoldVS 2024New ListingsVS 2024Average DOM
All Five Counties $141,000 -8.1%1163.6%2289.6%134
Chittenden County $250,000 11.1%258.7%42-2.3%125
Addison County $145,000 13.7%17-29.2%4536.4%63
Franklin County $89,000 -1.0%2531.6%50-9.1%182
Grand Isle County0.0%0.0%20.0%
Washington County $146,500 -26.4%3815.2%6518.2%125
Lamoille County $120,000 36.4%23-14.8%56-9.7%131

Land sales in northwest and central Vermont remained resilient so far in 2025, despite downward pressure on prices. Across the counties, the median sale price of land declined 8.14% to $141,000, while the average sale price dropped sharply by 33.65% to $183,952. This significant dip in average pricing suggests fewer premium parcels sold this year. Nonetheless, 116 land parcels were sold, marking a slight 3.57% increase in activity compared to 2024. The pace of the market has slowed slightly, with average days on market (DOM) rising to 134 days, up 8%.

At the county level, Chittenden County retained the highest land values, with a median sale price of $250,000—up 11% year-over-year—and 25 parcels sold, a healthy 8.7% increase. In contrast, Addison County experienced a significant slowdown in both volume and pace: sales fell 29%, even as the median price rose to $145,000. Franklin County saw a 31.6% jump in unit sales, despite a modest 1% drop in median sale price, showing growing buyer interest in more affordable parcels. Washington County recorded the highest sales volume, with 38 parcels sold, but also experienced the steepest pricing drop—median sales price down 26%, and the average sales price down 62%. Meanwhile, Lamoille County posted the region’s highest price appreciation, with a median sales price jump of 36% to $120,000, even though the number of parcels sold dipped slightly.

Looking at historical context, 2025’s median sale price of land at $141,000 remains well above pre-pandemic levels (the median was just $76,500 in 2017). While sales volumes are far below the 2021 pandemic peak of 274 units, they have stabilized in recent years. The rising number of new listings (+9.6%) signals growing seller confidence and may offer buyers more negotiating room in the months ahead. Despite overall pricing volatility, land remains an attractive option for buyers seeking custom builds, especially as home inventory remains tight in many Vermont towns.

Footnotes:

  1. PrimeMLS, PrimeMLS.com

2025 Mid-Year Mortgage Update


NMLS# 402933
UBLocal.com

Loading the Elevenlabs Text to Speech AudioNative Player…

As we pass the midpoint of 2025, the Vermont housing market continues to navigate a complex and rapidly evolving landscape. While affordability and housing availability remain front and center, new challenges—and a few encouraging opportunities—are shaping this year’s outlook.

Despite rising interest rates, Vermont homeowners continue to lead the nation in home equity strength. Nationally, equity withdrawals surged 22% year over year, reaching nearly $25 billion in Q1—the largest such figure in 17 years. These withdrawals highlight the significant wealth Vermonters have tied up in their homes.

Mortgage interest rates are expected to decline modestly in the second half of 2025, likely averaging in the mid-to-upper 6% range for a 30-year fixed mortgage. This depends on potential Federal Reserve rate cuts, with September as a likely starting point. However, rates remain sensitive to inflation and economic data.

Housing Affordability

Vermont is addressing affordability with a range of mortgage programs. Local lenders like Union Bank consistently rank as top VHFA partners, and innovative tools like the LendTogether shared equity program aim to further improve access.

According to the U.S. Census Bureau, 820 permits were issued as of May 2025, down from 1,036 in May 2024. Despite fewer permits, Union Bank continues to report healthy construction lending.

As of mid-June, Freddie Mac reports the average 30-year mortgage rate at 6.81%, slightly lower than this time last year. Though affordability remains strained, 809 new housing units were authorized through April, signaling modest growth in construction activity.

Beware of the Rise of Title Pirates

Scammers are targeting unoccupied land and mortgage-free properties, fraudulently listing them for sale. Warning signs include:

  • Communication only by email
  • Refusal to meet in person
  • Cash-only demands
  • No in-person notary

Awareness is critical to stopping these fraudulent practices.

Looking Ahead

While obstacles remain, demand for mortgage and construction financing remains strong. Union Bank continues to offer local insight, trusted guidance, and tailored solutions to help communities thrive—regardless of market conditions.

Footnotes:

  1. Union Bank
  2. MPA Record home equity, falling rates drive borrowers back to HELOCs
  3. Freddie Mac Mortgage Updates
  4. U.S. Census Bureau New Construction Update

Luxury Real Estate Market 2025

25 Oakledge Drive, Burlington, VT – This home offers breathtaking views of Lake Champlain, the Adirondack Mountains, and Shelburne Point from nearly every room, creating a perfect blend of privacy, natural beauty, and urban convenience.
Loading the Elevenlabs Text to Speech AudioNative Player…

Median PriceVS 2024Units SoldVS 2024New ListingsVS 2024Average DOM
All Five Counties $1,512,500 -8.3%4250.0%23-0.583
Chittenden County $1,512,500 -8.3%2864.7%18-0.333367
Addison County $3,200,000 77.8%1-66.7%0533
Franklin County $1,359,000 –10.0%101
Grand Isle County $1,399,900 –30.0%2-0.58
Washington County $1,550,000 -1.5%912.5%2-0.7778115
Lamoille County $1,700,000 6.3%12613.5%109

Nationally, luxury home prices remain strong. Median sold prices for single-family luxury homes increased 1.8% year-over-year, while attached properties (such as high-end condos and townhomes) saw 8.4% year-over-year growth, and an impressive 16.5% jump over 2023. This is largely driven by continued demand in major urban markets like New York City and Los Angeles, where trophy properties remain coveted.

Luxury inventory has climbed to a two-year high, with single-family listings up 40% since last year. This increase in supply reflects growing seller confidence and improved market conditions. Yet, despite more listings, high-quality properties continue to sell at strong prices—proof that buyers remain active, and values are holding firm.

A shift in buyer behavior is also shaping today’s market. A “tale of two luxury buyers” is emerging:

  • The no-compromise buyer, willing to pay a premium for turnkey, best-in-class properties.
  • The value-oriented buyer, more focused on long-term investment potential, location trade-offs, or renovation opportunities.

Luxury real estate is increasingly viewed as a cornerstone of wealth protection. According to Luxury Property Specialists surveyed, 68% of clients are maintaining or increasing their real estate investments, and even more are making all-cash purchases—highlighting the role of real estate as a hedge against market volatility.

Looking ahead, practicality is expected to outweigh lifestyle-driven splurges. Economic uncertainty is prompting buyers to refocus on tax strategies, liquidity, and long-term value. Also contributing to future growth is the 47% jump in U.S. home prices over the past five years, which has created trillions in equity—ushering in a new generation of move-up buyers entering the luxury tier. Millennials and Gen Z are making a stronger impact, seeking modern features like sustainability, turnkey convenience, and smart home technology.

Vermont’s luxury market…is reflecting many of the national trends, but with a distinctly regional character. While prices have corrected slightly, buyer activity was strong during the first half of the year, revealing underlying demand and greater market depth.

As of mid-2025, the median luxury home price across northwest and central Vermont is $1,512,500, a decrease of 8% year-over-year. The average sale price also fell 28.7%, likely due to a broader mix of properties entering the market, and more negotiated deals. However, this price shift did not deter buyers—luxury home sales are up 50%, with 42 units sold so far in 2025, the highest on record for the region.

In northwest Vermont, Chittenden County remains a luxury leader, accounting for 28 of the 42 sales. Lamoille County saw remarkable activity as well, with 126 transactions, reflecting the appeal of resort and second-home destinations like Stowe. Addison County posted the highest median sale price at $3.2 million, although this was based on very limited volume.

The days on market for luxury homes jumped to 83 days, up significantly from last year, signaling a shift in pace. Buyers are taking more time to evaluate options, and sellers must now emphasize presentation, pricing, and condition more than ever. Inventory is somewhat limited in certain counties, with new luxury listings down overall by 50%, making well-positioned homes even more attractive.

Proven Strength: Our market share reflects consistent performance across the luxury market, reinforcing the confidence high-end buyers and sellers have in our company and brand.

Footnotes:

  1. PrimeMLS, PrimeMLS.com
  2. Coldwell Banker Global Luxury 2025 Mid-Year Report
  3. UBS Global Wealth Report 2025: Wealth growth accelerated in 2024

Multi-Family Homes Market Report 2025

103 Caroline Street, Burlington, VT – Located at 103 Caroline Street in Burlington’s sought-after Five Sisters neighborhood just moments from Callahan Park. This rare duplex offers incredible potential.
Loading the Elevenlabs Text to Speech AudioNative Player…

By CountyMedian PriceVS 2024Units SoldVS 2024New ListingsVS 2024Average DOM
All Five Counties $536,000 26.9%8727.9%16311.6%69
Chittenden County $596,463 3.6%5875.8%9013.9%51
Addison County $475,000 6.7%40.0%1137.5%111
Franklin County $356,250 8.9%8-27.3%13-27.8%142
Grand Isle County0.0%0.0%20.0%
Washington County $320,000 14.9%17-15.0%4720.5%85
Lamoille County $625,000 145.1%860.0%1362.5%141

Multi-family properties across northwest and central Vermont are experiencing significant price appreciation and renewed buyer activity in 2025. The median sale price across all five counties rose to $536,000, up 26.86% year-over-year, while the average sale price increased over 33% to $652,704. Sales volume also climbed, with 87 multi-family properties sold, a nearly 28% increase over 2024.

New listings were up as well—163 properties listed, marking a healthy 11.6% increase—providing more opportunities in a segment often marked by tight supply. Despite rising interest rates nationally, the average days on market (DOM) rose only modestly to 69 days, suggesting that properties are still moving at a reasonable pace relative to their price points.

Chittenden County remains the most active and competitive market for multi-family housing, with 58 properties sold, representing a 76% increase in sales and a median sale price of $596,463. Washington County had more moderate pricing but steady activity, with 17 sales and a nearly 15% increase in median price. In contrast, Franklin County experienced a decline in activity, with only 8 properties sold (down 27%) and listings down as well. Addison County remained flat in sales but posted moderate price appreciation.

Footnotes:

  1. PrimeMLS, PrimeMLS.com,