|Median Sale Price:||Average Sale Price:||Units Sold:||Newly Listed:||Days on Market:|
|$100,000 (+22%)||$128,185 (-4.7%)||80 (-15.8%)||265 (+3.1%)||280 (+3.3%)|
While land sales have increased across northwest Vermont over the past 2 years, there is still plenty to choose from. Land prices vary greatly based upon location, permitting, and infrastructure. With a shortage of homes available for sale, the idea of buying land and building a home has been a solution for some. However, for many, the land, permitting and development costs combine to make new homes more expensive than older, existing home stock.
Chittenden County posted the largest number of land sales with a 15.6% increase over 2018. Although Chittenden County’s median sales price – at $122,500 – is the highest in the region, available lots include a building lot in the New North End of Burlington to multiple acres in nearby communities with mountain views.
Franklin and Grand Isle Counties recorded healthy increases in new land listings coming on the market – providing many affordable options for the right buyer. Still, land owners can plan on a year, on average, for their property to sell.