Vermont Land Market Report

By County	Median Price	VS 2024	Units Sold	VS 2024	New Listings	VS 2024	Average DOM
All Five Counties	$141,000	-8.1%	116	3.6%	228	9.6%	134
Chittenden County	$250,000	11.1%	25	8.7%	42	-2.3%	125
Addison County	$145,000	13.7%	17	-29.2%	45	36.4%	63
Franklin County	$89,000	-1.0%	25	31.6%	50	-9.1%	182
Grand Isle County		0.0%		0.0%	2	0.0%
Washington County	$146,500	-26.4%	38	15.2%	65	18.2%	125
Lamoille County	$120,000	36.4%	23	-14.8%	56	-9.7%	131

Land sales in northwest and central Vermont remained resilient so far in 2025, despite downward pressure on prices. Across the counties, the median sale price of land declined 8.14% to $141,000, while the average sale price dropped sharply by 33.65% to $183,952. This significant dip in average pricing suggests fewer premium parcels sold this year. Nonetheless, 116 land parcels were sold, marking a slight 3.57% increase in activity compared to 2024. The pace of the market has slowed slightly, with average days on market (DOM) rising to 134 days, up 8%.

At the county level, Chittenden County retained the highest land values, with a median sale price of $250,000—up 11% year-over-year—and 25 parcels sold, a healthy 8.7% increase. In contrast, Addison County experienced a significant slowdown in both volume and pace: sales fell 29%, even as the median price rose to $145,000. Franklin County saw a 31.6% jump in unit sales, despite a modest 1% drop in median sale price, showing growing buyer interest in more affordable parcels. Washington County recorded the highest sales volume, with 38 parcels sold, but also experienced the steepest pricing drop—median sales price down 26%, and the average sales price down 62%. Meanwhile, Lamoille County posted the region’s highest price appreciation, with a median sales price jump of 36% to $120,000, even though the number of parcels sold dipped slightly.

Looking at historical context, 2025’s median sale price of land at $141,000 remains well above pre-pandemic levels (the median was just $76,500 in 2017). While sales volumes are far below the 2021 pandemic peak of 274 units, they have stabilized in recent years. The rising number of new listings (+9.6%) signals growing seller confidence and may offer buyers more negotiating room in the months ahead. Despite overall pricing volatility, land remains an attractive option for buyers seeking custom builds, especially as home inventory remains tight in many Vermont towns.

Footnotes:

1. PrimeMLS, PrimeMLS.com

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.

The number of land parcels sold continues to decline from the height of this market segment in 2021. These results may not accurately reflect buyer interest as much as the lack of options for buyers seeking an ideal parcel to build their dream home. The days on the market (DOM) for sold parcels has declined to under 4 months demonstrating that buyers are ready to make a move when the right property hits the market. The median sold price increased sharply in Washington County and modestly in Chittenden County while Franklin County pricing readjusted after an 18% increase in 2023. With relatively small numbers of transactions, the median sale price can swing up or down, not necessarily demonstrating the appreciation or depreciation of land values.

Single-Family January-June 2024
Median Sale Price:	Units Sold:	Newly Listed:	Days on Market:
$150,000 +3.8%	79 -14.1%	153 -5.6%	134 +3.1%

LAND	MEDIAN SALE PRICE	VS 2023	UNITS SOLD	VS 2023	NEWLY LISTED	VS 2023	DAYS ON MARKET	VS 2023
Chittenden County	$225,000	8.20%	$23	-8.0%	43	0.194	76	-38.7%
Addison County	$127,500	-13.90%	$24	-20.0%	33	-0.353	150	21.0%
Franklin County	$89,900	-28.70%	19	-34.5%	55	0.058	99	-17.5%
Grand Isle County	$86,000	-8.30%	$13	62.5%	22	-0.044	255	20.9%
Lamoille County	$88,000	-8.80%	$27	3.9%	62	0.378	168	17.5%
Washington County	$199,000	53.10%	$33	-35.3%	55	-0.179	101	16.1%

Land January-December 2023
Median Sale Price:	Average Sale Price:	Units Sold:	Newly Listed:	Days on Market:
$139,000 +0.4%	$210,078 -0.2%	185 -20.9%	301 -6.8%	118 -23.4%

The number of land parcels sold in 2023 declined sharply over the prior year on top of the 27% decline in 2022. This period of decline follows amplified sales realized in 2021. However, 2023 results do not accurately reflect buyer interest as much as the same shortage in available inventory we are seeing in other segments of the real estate market. The number of days on the market for land is just over 4 months, down from 5 months in 2022 and 8 months in 2021 demonstrating that buyers were ready to make a move when the right property hit the market.

Franklin County’s median sale price jumped over 18% yet remains more affordable than other northwest Vermont counties. Washington & Addison Counties posted the most sales in the region with 99 and 60 lots closed respectively.

	MEDIAN SALE PRICE	VS 2022	UNITS SOLD	VS 2022	NEWLY LISTED	VS 2022	DAYS ON MARKET	VS 2022
Chittenden County	$210,000	8.0%	45	-33.80%	62	-45.60%	114	-17.40%
Addison County	$133,500	6.0%	60	-24.10%	83	5.10%	124	-30.30%
Franklin County	$93,500	18.4%	54	-1.80%	108	12.50%	90	-35.30%
Grand Isle County	$93,750	-1.7%	26	-18.80%	48	41.20%	169	12.70%
Lamoille County	$120,000	-18.6%	54	-40.00%	95	-28.00%	144	-10.00%
Washington County	$135,000	10.7%	99	-13.90%	124	-15.70%	109	-5.20%

Single-Family January-June 2023
Median Sale Price:	Units Sold:	Newly Listed:	Days on Market:
$144,500 -3%	92 -28%	162 -14.7%	130 -18.2%

The number of land parcels that have sold during the first half of 2023 declined sharply over the same period last year, on top of the 27% decline in 2022. This period of decline follows amplified sales realized in 2021. However, this year’s results do not accurately reflect buyer interest as much as the same shortage in available inventory we are seeing in other segments of the real estate market. The number of days on the market for land is just over 4 months, down from 5 months in 2022 and 8 months in 2021 demonstrating that buyers were ready to make a move when the right property hit the market.

Franklin County’s median price jumped nearly 28% to $126,000 yet remains more affordable than other northwest Vermont counties.  Addison County and Franklin County, with more undeveloped land, posted the most sales in the region with 30 and 29 closed respectively. 

Long term, the solution must include more and larger development to meet demand. Reputable and well-established builders are working hard to roll out new projects and additional phases of established communities. Extensive permitting and labor shortages are impacting cost, ultimately absorbed by purchasers. More action by state and local officials is needed to satisfy demand, address affordability, and positively impact our aging housing stock.

	MEDIAN SALE PRICE	VS 2022	UNITS SOLD	VS 2022	NEWLY LISTED	VS 2022	DAYS ON MARKET	VS 2022
Chittenden County	$208,000	-13.3%	25	-34.2%	36	-43.8%	124	-34.3%
Addison County	$148,000	8.8%	30	-33.3%	51	21.4%	124	-33.3%
Franklin County	$126,000	27.3%	29	0.0%	52	-13.3%	120	-34.1%
Grand Isle County	$93,750	3.7%	8	-50.0%	23	-4.2%	211	-45.5%

Warning: According to American Land Title, real estate transactions have been a prime target of cybercrime over the past decade. There is little sign of this slowing. Instead, fraudsters continue to evolve their scam and money laundering tactics to avoid detection.

This latest trend involves vacant lots or unencumbered properties (no mortgage). Fraudsters impersonate property owners to illegally sell commercial or residential property. Sophisticated fraudsters use the real property owner’s Social Security and driver’s license numbers in the transaction, as well as legitimate notary credentials which have all been fabricated. Commonly, the real owner of the property does not live nearby and is not aware of the sale.  While many of these properties are posted on national websites as “for sale by owner” (FSBO), scammers are beginning to connect with real estate agents to list the property while posing as the real seller.

To combat schemes like this, South Burlington residents can now register to be notified by email whenever a document (sale of house, lien, mortgage, etc.) is filed in the South Burlington Clerk’s office. Other municipalities may be considering programs like this.

According to American Land Title, a monitoring system like this doesn’t prevent fraud from happening, at least you will be alerted if or when a document is filed. Be extremely wary if you find a land parcel for sale below market price, with a seller who is urgent to sell, and not available to meet in person.

	MEDIAN SALE PRICE	VS 2021	UNITS SOLD	VS 2021	NEWLY LISTED	VS 2021	DAYS ON MARKET
Northwest Vermont	$147,000	54.7%	127	-27.4%	189	-14.1%	159
Chittenden County	$230,000	32.8%	37	-22.9%	64	16.4%	137
Addison County	$136,000	46.2%	45	-11.8%	$42	-36.4%	210
Franklin County	$99,000	62.3%	29	-48.2%	$59	-19.2%	132
	$90,375	0.4%	16	-20.0%	24	-7.7%	116

New Construction

While there is still an appetite for homeowners to consider building their custom home, some builders may not be able to start the project for 2 – 3 years. This is affecting some land sales where land gains tax may be a factor in the event a primary residence is not completed within the prescribed timeframe.
A number of Developers have projects in the pipeline for late 2022 and 2023, which will provide much needed single-family and condominium inventory to the market. Still, more building is needed to satisfy demand.

Land January-June 2021
Median Sale Price:	Average Sale Price:	Units Sold:	Newly Listed:	Days on Market:
$104,298 -5.1%	316 29%	244 +23.9%	372 -25%	241 -24.7%

Land sales in northwest Vermont increased by 29% in 2021 to 316 parcels sold. Limited inventory of existing homes coupled with buyer preferences for amenities, energy-efficiency, and newly envisioned living spaces contributed to this solid growth. While the median sale price dropped slightly across the region, land prices in Chittenden County grew.

Supply chain disruptions, lumber prices, and labor shortages affected housing starts nationally. Vermont is no different. The builders we work with are working diligently to control pricing, manage construction, and deliver beautiful homes timely. Buyers who can manage longer turnaround times and the higher costs associated with building will be able to customize their dream home while benefitting from low mortgage rates, energy-efficient construction, and often much lower maintenance costs.

	MEDIAN SALE PRICE	VS 2020	UNITS SOLD	VS 2020	NEWLY LISTED	VS 2020	DAYS ON MARKET
Chittenden County	$187,000	10.00%	$82	-4.70%	98	-24.60%	214
Addison County	$95,000	5.60%	$101	42.30%	109	-17.40%	273
Franklin County	$62,000	-7.50%	$89	43.60%	114	-23.00%	211
Grand Isle County	$96,450	-10.30%	$44	69.20%	51	-40.70%	275

Land January-June 2021
Median Sale Price:	Average Sale Price:	Units Sold:	Newly Listed:	Days on Market:
$94,500 -14.10%	174 180.7%	244 +23.9%	219 -11.7%	233 -23.1%

Land sales in northwest Vermont have nearly tripled so far in 2021 with 174 parcels sold. Limited inventory for existing homes and buyer preferences for amenities, energy-efficiency, and newly envisioned living spaces contribute to this solid growth. While the median sale price across the region dropped slightly to $94,500 – a piece of land in Chittenden County is nearly double. 

You can’t listen to the news without hearing about soaring lumber prices, labor shortages, and supply chain disruptions affecting housing starts nationally. The story is no different in Vermont. The builders that we work with are working diligently to control pricing, manage construction, and deliver beautiful homes timely. A number of options are available for buyers who can manage longer turnaround times and higher costs associated with building – but in the end, low-interest rates, energy-efficiency options, and the ability to customize their dream home make new construction very attractive.

	SALE PRICE MEDIAN	VS 2020	UNITS SOLD	VS 2020	NEWLY LISTED	VS 2020	DAYS ON MARKET
Chittenden County	$173,250	-13.4%	48	129%	55	-16.7%	204
Addison County	$91,500	8.3%	50	138%	65	3.2%	297
Franklin County	$61,000	27.1%	56	273%	73	-1.4%	233
Grand Isle County	$90,000	-30.8%	20	300.0%	26	-42.2%	149

Land January-December 2020
Median Sale Price:	Average Sale Price:	Units Sold:	Newly Listed:	Days on Market:
$109,950 +10.0%	$159,496 +16.5%	244 +23.9%	495 +11.5%	321 +9.2%

After a brief slow down in early 2020, land sales ended up increasing across the region. The declining inventory for existing homes and buyer preferences for amenities, energy-efficiency, and newly envisioned living spaces contribute to this growth.

Options remain for purchasers looking to build their dream home. Factors to consider include the longer wait time to occupancy and higher costs associated with building a home during the pandemic.

More buyers in 2020 found the option to build new a wise choice. Demand for land and new construction is expected to be strong in 2021.

	MEDIAN SALE PRICE	VS 2019	UNITS SOLD	VS 2019	NEWLY LISTED	VS 2019	DAYS ON MARKET
Chittenden County	$170,000	22.30%	86	4.90%	130	-3.70%	278
Addison County	$90,000	28.60%	70	32.10%	132	32.00%	437
Franklin County	$67,000	-0.70%	62	59.00%	147	-2.70%	264
Grand Isle County	$107,500	20.80%	26	13.00%	86	48.30%	292

	MEDIAN SALE PRICE	VS 2019	UNITS SOLD	VS 2019	NEWLY LISTED	VS 2019	DAYS ON MARKET
All Counties Multi-Family	$99,500	-0.3%	158	6.8%	403	5.8%	317
Chittenden County	$160,000	22.3%	53	-11.7%	104	-7.1%	218
Addison County	$82,000	21.5%	50	28.2%	104	28.4%	431
Franklin County	$53,500	-28.9%	39	30.0%	121	-10.4%	280
Grand Isle County	$81,350	-21.4%	16	-15.8%	74	39.6%	375