Franklin County

Single-Family Homes
Median Sale Price:	Average Sale Price:	Units Sold:	Newly Listed:	Days on Market:
$227,750 +9.1%	$233,595 +7.6%	96 +23.1%	139 -8%	116 -2.5%

Condos
Median Sale Price:	Average Sale Price:	Units Sold:	Newly Listed:	Days on Market:
$189,900 +2.4%	$189,659 -4.5%	11 +83.3%	18 +125%	122 +82.1%

Single Family
Median Sale Price:	Average Sale Price:	Units Sold:	Newly Listed:	Days on Market:
$233,500 +11.8%	$233,234 +7.6%	595 +6.6%	796 0.0%	97 -6.7%

Condos
Median Sale Price:	Average Sale Price:	Units Sold:	Newly Listed:	Days on Market:
$195,000 +4.0%	$210,741 +1.7%	58 -9.4%	67 +4.7%	134 -34.6%

The most affordable county in northwest Vermont – Franklin County continues to draw buyers and investors seeking home ownership options. Town by town data varies widely with median prices and sales fluctuating based upon proximity to interstate 89, Lake Champlain or in second home areas.  

Accounting for nearly half the sales in the county, St. Albans and Swanton, together, posted healthy improvements in the median sales price after slight declines in 2018. Fairfax and Fletcher continue to thrive with the number of closed sales increasing year after year.

Single-Family Homes	MEDIAN SALE PRICE	VS 2018	UNITS SOLD	VS 2018	NEWLY LISTED	VS 2018	DAYS ON MARKET
Franklin County	$233,500	11.80%	595	6.60%	796	0.00%	97
Bakersfield	$162,250	-14.10%	16	33.30%	25	66.70%	56
Berkshire	$187,000	41.10%	11	10.00%	19	26.70%	120
Enosburg	$179,000	15.50%	23	-8.00%	38	-13.60%	136
Fairfax	$302,000	5.60%	70	11.10%	88	-3.30%	68
Fairfield	$293,000	39.50%	15	0.00%	25	8.70%	90
Fletcher	$264,000	6.90%	24	26.30%	27	-3.60%	107
Franklin	$168,000	4.40%	15	150.00%	27	22.70%	162
Georgia	$263,500	-5.90%	50	13.60%	61	0.00%	85
Highgate	$222,500	23.30%	26	-35.00%	47	-4.10%	106
Montgomery	$155,000	-23.50%	18	-5.30%	30	42.90%	150
Richford	$117,500	26.30%	35	12.90%	44	-20.00%	191
Sheldon	$200,000	9.00%	29	7.40%	36	9.10%	57
St. Albans	$242,000	16.90%	163	8.00%	200	-3.90%	98
Swanton	$229,000	14.50%	100	4.20%	129	-1.50%	75

	Median Sale Price	Average Sale Price	Units Sold	Newly Listed	Days on Market
Single-Family	$232,700 (13%)	$233,852 (9.2%)	416 (-5%)	658 (-3.4%)	97 (-8.5%)
Condos	$189,500 (5.9%)	$200,391 (0.2%)	38 (-24%)	53 (8.2%)	128 (-38.8%)
Multi-Family	$180,670 (-9.2%)	$208,646 (1.3%)	33 (6.5%)	51 (6.3%)	85 (-34.1%)
Land	$75,250 (40.7%)	$98,343 (42.1%)	30 (-11.8%)	135 (26.2%)	184 (-11.1%)

The prices of homes sold continue to increase over 2018. Homeowners, considering the sale of their property may want to act now in order to optimize their gains.  

Franklin County offers a variety of housing options and price points from city homes in St. Albans, suburban developments in Fairfax, country homes in Georgia and Swanton – or mountain living in Montgomery. Buyers may have a bit more breathing room when deciding to purchase in Franklin County – but don’t wait too long – homes and investment properties are selling on average in only 3 months on the market.

Single Family
Median Sale Price:	Average Sale Price:	Units Sold:	Newly Listed:	Days on Market:
$225,000 (+9.8%)	$230,137 (+6.8%)	227 (-14.3%)	405 (-9.8%)	102 (-8.1%)

Condo
Median Sale Price:	Average Sale Price:	Units Sold:	Newly Listed:	Days on Market:
$189,000 (+8%)	$198,749 (+3.4%)	21 (-27.6%)	45 (+45.2%)	134 (-28.7%)

 

Fueled by robust increases in the price of homes sold in St. Albans, Georgia and Fairfax – the median sale price for Franklin County rose to $225,000. Homeowners, considering the sale of their property may want to act now in order to optimize their gains.

The decline in the number of homes sold year to date may be more a factor of decreased inventory rather than a lack of demand. Countywide, sales take little more than 3 months from listing to closing.

Fairfax, within a comfortable commuting distance to employers to the north or south, has the highest median price in the county and remains a popular option among buyers. The lack of new homes coming to market affected the total number of sales. With “DOM – days on market” at only 70 days – homes were quickly purchased by ready and able buyers.

St. Albans and Swanton together account for nearly half of the sales in the county. The median sale price has increased in both cities helping push the county median up nearly 10%.

 

 

 

 

 

 

 

 

	Median Sale Price	Average Sale Price	Units Sold	Newly Listed	Days on Market
Single-Family	$208,300 (13.2%)	$216,370 (7.4%)	79 (-16%)	151 (-7.4%)	118 (-8.5%)
Condos	$185,500 (8.2%)	$198,671 (3.8%)	6 (-50%)	8 (-50%)	67 (-70.6%)
Multi-Family	$210,835 (-1.9%)	$214,112 (-3.3%)	6 (-45.5%)	13 (62.5%)	126 (-22.2%)
Land	$81,750 (31.9%)	$101,667 (36.4%)	6 (-40%)	42 (90.9%)	95 (-55.8%)

 

While the number of units sold in Franklin County declined during the 1st quarter, the median and average sale prices increased.

Inventory tightened a bit with new properties coming to market declining. The harsh winter and traditionally slow months of the year may not provide enough data to determine trends that will be seen in Franklin County during 2019.

 

 

 

 

 

 

 

 

Single Family
Median Sale Price:	Average Sale Price:	Units Sold:	Newly Listed:	Days on Market:
$208,950 (-2.8%)	$216,706 (+0.7%)	558 (+5.1%)	796 (1.4%)	104 (-14.1%)

Condo
Median Sale Price:	Average Sale Price:	Units Sold:	Newly Listed:	Days on Market:
$187,498 (-4.6%)	$207,275 (+0.1%)	64 (+60%)	64 (+1.6%)	205 (+61.4%)

The number of properties coming on the market in 2018 stabilized after declining for a few years. This was good news for buyers seeking affordable home ownership options. Franklin County, with a median price of under $209,000, is the most affordable in northwest Vermont.

Town by town data varies widely with median prices and sales fluctuating based upon proximity to interstate 89, Lake Champlain or second home areas.

Georgia and Fairfax posted the highest median sale prices of $280,000 and $286,000 respectively. A nearly 17% increase in new homes to the market in Fairfax helped push unit sales up by 6.8%. With proximity to both Burlington and St. Albans, both towns are popular options for families.

 

 

 

 

 

 

	Median Sale Price	Average Sale Price	Units Sold	Newly Listed	Days on Market
Single-Family	$205,500 (-3.2%)	$213,898 (0.3%)	436 (9%)	680 (4.6%)	106 (-14.5%)
Condos	$178,900 (-9%)	$200,015 (-5.6%)	50 (47.1%)	49 (-5.8%)	209 (60.8%)

Franklin County remains the most affordable county in northwest Vermont. The median price for a single-family home declined slightly to $205,500 as compared to $339,950 in neighboring Chittenden County.

Single-family home and condo sales in Franklin County increased over the same period last year – far outpacing the overall trend in northwest Vermont.

Land sales remain healthy and an affordable option for buyers and developers alike.

As the average price for Multi-Family properties rises by 22% in Chittenden County, investors turn to Franklin County with the convenient location off of I-89 and average pricing near $200,000.

 

 

 

Single Family
Median Sale Price:	Average Sale Price:	Units Sold:	Newly Listed:	Days on Market:
$204,500 (+1%)	$215,586 (+3%)	264 (+16.8%)	448 (+6.2%)	111 (-5.9%)

Condo
Median Sale Price:	Average Sale Price:	Units Sold:	Newly Listed:	Days on Market:
$175,000 (-15.4%)	$192,169 (-10.4%)	29 (+31.8%)	31 (-3.1%)	188 (+39.3%)

After a slow start to 2018, home sales in Franklin County rebounded during the 2nd quarter of 2018 – increasing nearly 17% over the first half of 2017.

With inventory for sale still at historic lows, the number of newly listed properties improved – providing new options for buyers searching for affordable living. Franklin County has the lowest median sale price among the four counties in northwest Vermont. Town by town the data varies. Fairfax, situated between Burlington and St. Albans, has the highest median sale price at $282,000 while St. Albans and Swanton had the most closed sales.

 

 

Single Family
Median Sale Price:	Average Sale Price:	Units Sold:	Newly Listed:	Days on Market:
$184,000 (-6.2%)	$201,289 (-3.2%)	93 (-7.9%)	161 (+10.3%)	129 (+12.2%)

Condo
Median Sale Price:	Average Sale Price:	Units Sold:	Newly Listed:	Days on Market:
$171,450 (-27%)	$191,359 (-12.8%)	12 (+9.1%)	16 (+14.3%)	228 (+48.1%)

Home buyers find affordability and options across Franklin County.

The number of new properties listed during the start of 2018 has increased, and the total number of homes available to purchase has stabilized.

Buyers are finding more home for their money in towns and cities close to Interstate 89 like Fairfax, St. Albans and Swanton– while vacation home purchases are driving median price increases in towns in the northeast part of the county.

Single Family
Median Sale Price:	Average Sale Price:	Units Sold:	Newly Listed:	Days on Market:
$214,950 (+ 5.3%)	$215,399 (+3.4%)	530 (-6.4%)	785 (-3.3%)	120 (+11.1%)

Condo
Median Sale Price:	Average Sale Price:	Units Sold:	Newly Listed:	Days on Market:
$214,950 (+ 5.3%)	$215,399 (+3.4%)	530 (-6.4%)	785 (-3.3%)	120 (+11.1%)

Inventory continues to tighten in Franklin County, which remains the most affordable market in this northwestern Vermont report.

The median sale price of a single-family home in Franklin County is $214,950, up 5% from 2016, and the median sale price of a condo is $196,438, up 1%.

However, the number of single-family homes sold dropped nearly 6.5% (to 530) while the number of newly listed homes dropped 3% (to 785). Single-family homes are staying on the market longer, too — up 11% to 120 days.

In 2016, Franklin County benefitted from the shrinking inventory in nearby Chittenden County and posted an 18% increase in residential sales. In 2017, St. Albans and Swanton slowed from their highs of the previous year, while some of the outlying towns — such as Enosburgh, Sheldon, Richford, and Montgomery — posted double-digit increases in sales, perhaps due to their proximity to the Jay Peak ski region and Canada.

Fairfax saw a 7% increase in the median sale price of a single-family home — one of the highest in the county, though still quite affordable.