Addison County Experience an Uptick to Homes Sales

Stunning Post and Beam Colonial built in 1837 and beautifully restored in Ferrisburgh. | MLS# 4502106

 

Single Family    
Median Sale Price:Average Sale Price:Units Sold:Newly Listed:Days on Market:
$255,000 (+11.1%)$279,539 (+9.7%)256 (+6.2%)470 (-6.9%)132 (-7%)

Condo    
Median Sale Price:Average Sale Price:Units Sold:Newly Listed:Days on Market:
$191,000 (+12.4%)$254,520 (+22.5%)17 (+70%)17 (-19%)71 (+9.2%)

Residential sales in Addison County continue to recover after a few soft years. 

First-time homebuyers looking for properties listed at $200,000 – $250,000 have created a growing market in Addison County. Our Realtors have noticed that parents of Middlebury College students are purchasing condos as either short-term or long-term dwellings. The median sale price of a condo in Addison County has jumped to $191,000, while the median sale price of a single-family home has increased by 11%, to $255,000.

Lower inventory in nearby Chittenden County might be pushing buyers a bit farther south, where buyers may find more house for their money.

There has been a sharp decline in Q3 inventory (-27%) in single-family homes in Addison County over the past 4 years, while sales have increased 21%.

While there is still an inventory shortage among all price ranges, sales have risen on homes listed between $250,000 to $450,000, according to our Realtors.