| Single-Family January-December 2021 | ||||
|---|---|---|---|---|
| Median Sale Price: | Average Sale Price: | Units Sold: | Newly Listed: | Days on Market: |
| $340,600 +19.5% | $398,214 +24.1% | 422 +11.6% | 436 +0.9% | 60 -45.5% |
| Condo January-December 2021 | ||||
|---|---|---|---|---|
| Median Sale Price: | Average Sale Price: | Units Sold: | Newly Listed: | Days on Market: |
| $255,000 +4.1% | $289,607 +6.8% | 28 +40% | 25 -3.9% | 53 -71.8% |
The real estate market is booming in Addison County, achieving the highest median sale price for a single-family home since our report began six years ago. The number of homes sold increased by 12% – nearly triple the increase across the region. The pace of the market accelerated as well with the average time from listing to close at only 2 months – down from 3 months mid-year. Middlebury, Bristol, Vergennes, and Ferrisburgh topped the county for the most homes sold in 2021, followed closely by Monkton, Orwell, and New Haven. The highest median sale prices were reported in Cornwall, Addison, and Lincoln. Accessibility to Lake Champlain, the mountains, and an easy commute to the greater Burlington area for employment are motivators for buyers. Farm to table dining options, art galleries, and a more rural landscape enhance the quintessential Vermont life experience.
| MEDIAN SALE PRICE | VS 2020 | UNITS SOLD | VS 2020 | NEWLY LISTED | VS 2020 | DAYS ON MARKET | |
|---|---|---|---|---|---|---|---|
| Addison County Single-Family | $340,600 | 19.50% | 422 | 11.60% | 436 | 0.90% | 60 |
| Addison | $540,000 | 61.20% | 17 | -19.10% | 19 | 0.00% | 70 |
| Bridport | $324,250 | 66.30% | 18 | 38.50% | 14 | -6.70% | 130 |
| Bristol | $323,500 | 22.10% | 43 | 10.30% | 40 | -16.70% | 60 |
| Cornwall | $544,000 | 27.40% | 14 | -26.30% | 13 | -50.00% | 32 |
| Ferrisburgh | $339,500 | 6.10% | 28 | -17.70% | 27 | -40.00% | 80 |
| Goshen | $212,900 | -17.80% | 3 | 0.00% | 4 | 0.00% | 174 |
| Granville | $150,000 | -61.50% | 5 | 66.70% | 9 | 125.00% | 84 |
| Hancock | $140,500 | 40.50% | 7 | 133.30% | 5 | 25.00% | 151 |
| Leicester | $301,250 | 6.80% | 18 | 20.00% | 17 | 70.00% | 80 |
| Lincoln | $345,000 | 34.80% | 15 | 50.00% | 14 | 27.30% | 100 |
| Middlebury | $365,000 | 32.70% | 68 | 3.00% | 67 | -6.90% | 41 |
| Monkton | $420,000 | 24.60% | 24 | -14.30% | 24 | -29.40% | 34 |
| New Haven | $420,000 | 27.70% | 22 | 37.50% | 23 | -4.20% | 28 |
| Orwell | $280,000 | 30.10% | 23 | 130.00% | 26 | 73.30% | 125 |
| Panton | $405,000 | 20.00% | 10 | 66.70% | 10 | 42.90% | 37 |
| Ripton | $349,000 | 26.90% | 6 | -40.00% | 8 | -33.30% | 35 |
| Salisbury | $337,500 | 36.00% | 20 | 100.00% | 24 | 100.00% | 17 |
| Shoreham | $330,000 | 6.50% | 15 | -11.80% | 19 | 46.20% | 39 |
| Starksboro | $267,000 | -22.20% | 14 | -17.70% | 18 | -5.30% | 48 |
| Vergennes | $265,000 | 9.70% | 29 | 20.80% | 32 | 52.40% | 13 |
| Waltham | $363,285 | 51.10% | 6 | 50.00% | 5 | 25.00% | 21 |
| Weybridge | $475,000 | 72.10% | 13 | 44.40% | 12 | 20.00% | 44 |
| Whiting | $264,500 | 124.20% | 4 | 300.00% | 6 | 100.00% | 255 |
As travel restrictions for out of state buyers loosen, sales of homes, including lakefront property in Addison County, should recover. Historically, the area accounts for 12-15% of the luxury home sales in northwest Vermont.
Buyers are attracted to the relative affordability compared to neighboring 
A 25% increase in homes available for purchase in Vergennes resulted in a 23% rise in single family homes sold through the year. Undoubtedly, Vergennes’ thriving downtown and proximity to 
Buyers are drawn to 
Buyers are drawn to the community amenities of towns that make up 
Due to the relatively low number of transactions during the 1st quarter, it may be too early to draw conclusions.