The Multi-Family market is experiencing steady buyer demand, tempered by lower inventory levels.

One 2-bedroom unit plus three 3-bedroom units with separate utilities, ample parking, and storage, coin-op laundry in basement. | MLS# 4641648
Multi-Family    
Median Sale Price:Average Sale Price:Units Sold:Newly Listed:Days on Market:
$274,500 (-22.84%)$319,358 (-13.26%)56(-12.5%)114 (+3.64%)108 (+31.7%)

The Multi-Family market, largely driven by Chittenden County, is experiencing similar trends as the residential real estate market: steady buyer demand, tempered by lower inventory levels.

Over the past year, historically low vacancy rates have eased a bit. However, Investors continue to show strong demand for multi-family properties given the growing and diverse professional base and expanded hiring by local institutions and businesses – both positive trends in the market.

The decline in average and median sold prices is a result of less properties sold in 2017 coupled with a multi-million dollar sale in 2016 which has a strong effect on the data. The decline is not a result of depreciation.
Our agents report that larger, high priced properties are not coming to market as investors choose to hold on to those properties.
With well positioned, multi-family units selling quickly – some buyers are considering single family homes in renter friendly neighborhoods as an investment.