Washington County

Home to the state capital of Montpelier, with Barre being the most populous municipality, the Washington County real estate market is robust yet challenging.  A drop of 15% in homes available for sale failed to meet buyer demand resulting in a 27% decline in closed sales.  As a result, the median sale price jumped by nearly 16%.  As we write this report, we are saddened by the flood damage sustained throughout much of the county during severe, July storms.  Homes and businesses alike are cleaning up and hoping to rebuild.  The short- and long-term effects of this devastation have yet to be realized.

The first quarter of 2023 was challenging for the single-family home market in Washington County, with a significant decline of around 45% in sales volume compared to the same period last year. Additionally, new listings for single-family homes in the county dropped by approximately 26% year-over-year, contributing to the limited inventory and increased competition among buyers.

Despite the challenges faced by the single-family home market, the median sold price for single-family homes in Washington County increased by approximately 23% compared to the first quarter of 2022, indicating that demand remains strong in this segment of the market.

The condo market in Washington County was more stable, with flat sales volume but a significant increase of around 52% in the median sold price for condos compared to the first quarter of 2022. However, the number of new listings for condos dropped by approximately 21% year-over-year, indicating that inventory remains limited in this segment of the market as well.

With easy access to I-89 for commuting north or south, and an affordable median sale price, we have represented more buyers and sellers in Washington County over the past couple of years. A 33% increase in the median price since 2019 puts current homeowners in a strong equity position, while still providing affordability for buyers. City living, proximity to ski resorts, and lovely country property – Washington County offers diverse housing options and great quality of life.

With easy access to I-89 for commuting north or south, and an affordable media sale price, we are happy to include Washington County in our Vermont Market Report. City living, proximity to ski resorts, and country property – Washington County offers diverse housing options.