Vermont’s luxury property market* remained solid in 2024, driven by the desire for high-end homes that offer privacy, natural beauty, and exclusive amenities. The median sale price for luxury properties in northwest Vermont (Chittenden, Addison, Franklin, and Grand Isle Counties) reached $1,650,000, a 2.2% increase from the previous year, while the average sale price surged by 20.6% to $2,204,868 as a result of 2 sales above $10,000,000 in Chittenden County.
| Single-Family January-December 2024 | ||||
|---|---|---|---|---|
| Median Sale Price: | Average Sale Price: | Units Sold: | Newly Listed: | Days on Market: |
| $1,650,000 2.2% | $2,204,868 20.6% | 57 0.0% | 96 -5.9% | 29 -21.6% |
Despite limited inventory, with new listings dropping by 6 %, luxury homes sold quickly, averaging just 29 days on market (DOM)—a 21.6% decline that underscores the competitive nature of this segment. Discerning buyers in this market segment are ready to make a move when the property that meets their desires comes on the market.
As affluent buyers continue to seek Vermont’s premium properties, Coldwell Banker Hickok & Boardman has solidified its position as the dominant force in the luxury market. Representing more luxury buyers and sellers in northwest Vermont than any other firm, the company achieved an impressive 35% market share in this high-demand segment. Our Agents’ unmatched expertise, deep market knowledge, and personalized service have made us the go-to choice for both buyers and sellers navigating this fast-moving market.
For sellers, these conditions present a golden opportunity to capitalize on the demand for luxury property while inventory remains low. For buyers, partnering with an experienced Agent from Coldwell Banker Hickok & Boardman provides access to exclusive listings, expert strategies, and deep insights into Vermont’s luxury market. Vermont continues to attract high-net-worth individuals from metropolitan areas and out-of-state markets. Coldwell Banker Hickok & Boardman Agents are positioned to best market to and serve these discerning buyers.
*Luxury properties are defined as residential properties priced at $1,250,000 or more. Previous reports included properties priced at $1,000,000 or more. Due to increased median sale prices across all residential sales over the past 5 years, it was necessary to increase the benchmark to accurately reflect the top 10% of the market.
| Sales by County | Units | Median | Average | Low Sold Price | High Sold Price |
|---|---|---|---|---|---|
| Chittenden | 46 | $1,650,000 | $2,257,641 | $1,250,000 | $14,100,000 |
| Addison | 7 | $1,700,000 | $2,008,000 | $1,390,000 | $3,600,000 |
| Franklin | 0 | ||||
| Grand Isle | 4 | $1,660,000 | $1,942,500 | $1,450,000 | $3,000,000 |
| Lamoille | 69 | $1,600,000 | $1,964,957 | $1,250,000 | $4,000,000 |
| Washington | 17 | $1,696,500 | $2,025,382 | $1,260,000 | $5,000,000 |
