The Vermont land market faced notable challenges in 2024, with sales volume declining despite steady price growth. The median sale price for land in northwest Vermont rose by 6.8% to $148,500 – a 75% increase over the past eight years.
| By County | Median Price | VS 2023 | Units Sold | VS 2023 | New Listings | VS 2023 | Average DOM |
|---|---|---|---|---|---|---|---|
| Chittenden County | $225,000 | 7.1% | 45 | 0.0% | 94 | 51.6% | 81 |
| Addison County | $120,000 | -10.1% | 47 | -21.7% | 75 | -9.6% | 100 |
| Franklin County | $90,000 | -3.7% | 43 | -20.4% | 103 | -4.6% | 126 |
| Grand Isle County | $90,000 | -4.0% | 23 | -11.5% | 44 | -8.3% | 189 |
| Lamoille County | $152,500 | 27.1% | 58 | 7.4% | 111 | 16.8% | 122 |
| Washington County | $145,000 | 7.4% | 66 | -33.3% | 124 | 0.0% | 83 |
The average sale price dipped by 6.3%, reflecting variability in parcel types and development potential. Units sold dropped by 14.6%, with only 158 transactions, as rising costs and regulatory barriers continued to deter many buyers.
New listings in the region grew modestly by 5.0%, with a 52% increase in land for sale in Chittenden County. But ongoing challenges such as labor shortages, infrastructure limitations, and permitting complexities hampered the pace of development. The average days on market (DOM) decreased slightly by 2.5% to 115 days, suggesting that buyers remain active but are increasingly selective about the properties they pursue.
Land is still a critical segment in Vermont’s real estate market, particularly as developers seek opportunities to address the state’s housing shortage. However, building on undeveloped land often requires a substantial investment in utilities, road access, and zoning compliance. Buyers looking to navigate these complexities need the expertise of an experienced Agent who understands local regulations and market trends.
For Sellers, pricing land competitively, thoughtfully, and, if appropriate, highlighting its development potential will be key to attracting serious buyers. Looking ahead, Vermont’s focus on housing initiatives and infrastructure investment may unlock new opportunities for land sales and development in 2025, offering optimism to a market poised for growth.