Franklin County fared well during the first half of 2020

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Our mid-year report includes data for the first 6 months of 2020, as well as data for the 2nd quarter of 2020 alone. We cannot analyze the trends in the northwest Vermont real estate market without understanding the effects of COVID-19 which struck Vermont in mid-March. 

Single Family
January-June
    
Median Sale Price:Average Sale Price:Units Sold:Newly Listed:Days on Market:
$245,500 +9.1% $244,681 +6.3241 +6.2%357 -12.3%117 +14.7%
Condo
January-June
    
Median Sale Price:Average Sale Price:Units Sold:Newly Listed:Days on Market:
$210,000 +11.1% $217,892 +9.6%25 +19.1%
41 -8.9%112 -16.4%
Single Family
April-June
    
Median Sale Price:Average Sale Price:Units Sold:Newly Listed:Days on Market:
$257,000 +10.4% $251,980 +6.4%145 -2.7%218 -14.8%
117 +25.8%
Condo
April-June
    
Median Sale Price:Average Sale Price:Units Sold:Newly Listed:Days on Market:
$243,250 +26.4% $240,075 +20.8%14 -6.7%23 -37.8%104 -35.4%

Franklin County fared well during the first half of 2020 despite the limitations caused by COVID-19. The affordability of homes and convenient location near I-89 make the county an excellent option for buyers. The number of units sold increased for single-family homes and condos during the period. This is likely a result of the availability of inventory and a median price $115k less than nearby Chittenden County.

The median price of single-family homes in Franklin County has increased by nearly 20% since 2018, but remains an affordable option for buyers and is good news for sellers who have increased equity in their home.

St. Albans and Swanton represent 42% of the sales closed in Franklin County, while Montgomery tops the county in median sale price at $310,000.

 MEDIAN SALE PRICEVS 2019UNITS SOLDVS 2019NEWLY LISTEDVS 2019DAYS ON MARKET
Franklin County Single-Family$245,500 9.10%2416.20%357-12%117
Bakersfield$249,950 2.00%860.00%9-18.20%169
Berkshire$155,000 -13.20%3-25.00%6-33.30%167
Enosburg$208,000 5.10%1536.40%16-20.00%152
Fairfax$300,000 -2.00%23-4.20%417.90%64
Fairfield$263,000 -10.20%70.00%8-20.00%102
Fletcher$275,000 4.60%90.00%5-68.80%244
Franklin$310,500 98.70%8166.70%9-40.00%211
Georgia$283,500 -5.90%240.00%343.00%127
Highgate$218,000 3.80%21162.50%3233.30%65
Montgomery$310,000 108.10%50.00%166.70%120
Richford$111,450 19.50%10-28.60%16-40.70%254
Sheldon$234,950 48.70%6-25.00%13-43.50%66
St. Albans$244,500 11.50%61-13%992.10%86
Swanton$235,000 4.40%4117.10%53-23.20%115