Land showed a healthy increase in 2018

Nice, open level lot with Adirondack Mountain views in a great location close to South Burlington/Shelburne town line. MLS# 4714389
Northwest Vermont    
Median Sale Price:Average Sale Price:Units Sold:Newly Listed:Days on Market:
$88,000 (0%)$150,130 (+36.7%)203 (+7.4%)463 (-19.3%)289 (+1.4%)

Land sales across northwest Vermont showed a healthy increase over 2017. With inventory of homes for sale declining year over year coupled with a strong seller’s market – many buyers are turning to land purchases to build a custom home. 

Addison County closed nearly the same number of land sales as Chittenden County – but at a more affordable median price of $70,000.

With an increase in sales and a decline in new land listings to the market, parcels that have been for sale for an extended period of time are being absorbed. Developers are looking for land in key locations to satisfy the demand from potential homeowners looking to down size or right size their lifestyle.

Still, land owners can plan on nearly a year, on average, for a property to sell.