|Median Sale Price||Average Sale Price||Units Sold||Newly Listed||Days on Market|
|Single-Family||$305,000 (5.2%)||$347,505 (7.9%)||1860 (7.6%)||2744 (3.4%)||73 (-18%)|
|Condos||$244,815 (8.7%)||$276,114 (7.9%)||559 (-1.2%)||654 (-12.8%)||68 (-2.9%)|
|Multi-Family||$320,000 (6.3%)||$384,624 (-6.2%)||101 (-22.9%)||191 (12.4%)||70 (-26.3%)|
|Land||$100,000 (22.0%)||$134,793 (4.4%)||147 (-2.7%)||379 (-1.6)||290 (16.9%)|
Welcome to fall in northwest Vermont, and to our Fall 2019 Market Report through the 3rd quarter (Q3), January – September 2019.
Each quarter, we combine the Multiple Listing Service (MLS) data with the expertise of our Agents to offer a recap of real estate activity and trends in the 4 counties of northwest Vermont: Addison, Chittenden, Franklin and Grand Isle.
Traditionally, the “height of the market” is the 3rd quarter, late spring through summer; however, we have seen this heightened activity continue into fall in recent years. While the ongoing story in the national and regional market has been the contraction of inventory for sale, we did see some relief during the 3rd quarter, with new properties coming on the market increasing slightly over last year. This resulted in an increase in single-family home sales. Still buyer demand exceeds supply – pushing median and average sale prices higher.
With interest rates lower than last year, sellers and buyers would be wise to stay in the market during the 4th quarter of 2019 and 1st quarter of 2020, while properties are still in demand and at their most affordable.
Our skilled REALTORS® can help you with more specific price points in certain cities and towns. Given our market leading position, we are committed to providing unparalleled service and results for our clients.