The Multi-Family market saw a big jump in the average home sale price

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Northwest Vermont    
Median Sale Price:Average Sale Price:Units Sold:Newly Listed:Days on Market:
$322,500 (+13.2%)$487,965 (+64.8%)36 (+33.3%)32 (-37.3%)112 (+72.3%)

Chittenden County     
Median Sale Price:Average Sale Price:Units Sold:Newly Listed:Days on Market:
$413,500 (+24.4%)$608,718 (+55%)24 (+33.3%)18 (-37.9%)90 (+55%)

The multi-family market showed a healthy increase in the median price sold and a big jump in the average price sold – driven largely by some high priced sales in Chittenden County.

With 24 closed transactions in Chittenden County during the 1st quarter and only 53 properties available during that time, the market remains competitive for investors. Although the days on the market from list to close increased over the same period last year, this still represents only 3.5 months on the market for closed properties- indicative of a typical “seller’s market”. Newer apartment complexes coming online have eased the historically low vacancy rate in the greater Burlington area a bit, however there is still strong demand from renters.