The Sale of Luxury Homes has Increased 35% Over 2016

Catering to every desire, this custom built home in Colchester has it all! | MLS# 4646487
Luxury Home Market  
Median Sale Price:Average Sale Price:Units Sold:
$1,075,000 (-1%)$1,282,935 (-1%)27 (+35%)

Of the 13 properties that sold during the first half 2017, 11 are located in Chittenden County, 1 property is in Grand Isle County and 1 property is in Addison County.    

A Country home with mountain views, luxury condominiums, a contemporary lakefront dwelling near downtown Burlington and an antique lakefront home in Ferrisburgh are just some of the sales that closed during the first 6 months of 2017. The majority of the luxury sales were away from the lake and closer proximity to amenities offered in the greater Burlington area.

With a small number of transactions, the average sold price can be dramatically affected – which is the case this year. In the first half of 2016, 4 of the 15 units closed were priced above $1.5 million; two of those closed priced over $2.0 million. In 2017, the highest priced property sold (as reported in the MLS) has been $1.395 million.

With more than 105 properties for sale, the Luxury market in Northwest Vermont provides plenty of options for buyer seeking properties in the range of $850,000 and higher. And sellers have grown more flexible in their expectations on prices and negotiations.