Northwest Vermont Market Report – Page 2 – Mid-Year 2024 Market Report

Chittenden County Mid-Year Report

July, 2024July, 2024 by Coldwell Banker Hickok & Boardman

17 Pinnacle Drive, Milton, VT ~ This stunning home on Pinnacle Drive in Milton is a hidden gem with 2.95 acres!

A surge in newly listed condos and single-family homes resulted in 658 closed sales during the first 6 months of the year. This is the first time in over 5 years that the number of closed sales has not declined. Burlington, Essex, Williston, Hinesburg, and Jericho all posted increases in sales.

Single-Family January-June 2024
Median Sale Price:	Average Sale Price:	Units Sold:	Newly Listed:	Days on Market:
$575,000 +4.9%	$680,847 +13.5%	404 -0.3%	605 +9.2%	31 +10.7%

Condos January-June 2024
Median Sale Price:	Average Sale Price:	Units Sold:	Newly Listed:	Days on Market:
$355,750 -1.2%	$413,025 -1.3%	254 +8.6%	390 +30.4%	23 +35.3%

South Burlington’s drop-in single-family sales reflects a shift in new construction sales during the first half of 2023 vs 2024. As O’Brien’s Hillside East closes many new homes through the remainder of 2024, the results in South Burlington will shift.

Condos were a bright spot in Chittenden County sales, increasing nearly 9% with a 30% jump in available condos. South Burlington, Essex, Colchester, and Burlington lead the market.

SINGLE FAMILY SALE PRICE	MEDIAN	VS 2023	UNITS SOLD	VS 2023	NEWLY LISTED	VS 2023	DAYS ON MARKET
Bolton	$547,600	-5.3%	3	-25.0%	3	-40.0%	5
Burlington	$530,750	-13.0%	72	4.4%	112	47.4%	28
Charlotte	$675,000	22.7%	13	85.7%	21	61.5%	18
Colchester	$560,000	9.2%	34	-19.1%	59	-22.4%	35
Essex	$575,000	18.9%	63	1.6%	85	16.4%	38
Hinesburg	$726,000	26.8%	18	350.0%	27	68.8%	57
Huntington	$282,500	13.0%	2	0.0%	5	66.7%	12
Jericho	$564,750	-4.3%	18	63.6%	27	12.5%	58
Milton	$500,000	17.7%	39	-4.9%	44	-8.3%	22
Richmond	$525,000	10.0%	10	25.0%	24	84.6%	6
Shelburne	$690,000	-22.0%	17	-19.1%	29	-14.7%	46
South Burlington	$583,500	-6.8%	54	-25.0%	89	-6.3%	24
St. George	$885,000	31.1%	1	-75.0%	2	-60.0%	5
Underhill	$775,000	43.5%	12	33.3%	18	12.5%	65
Westford	$375,000	-33.7%	7	0.0%	11	57.1%	25
Williston	$742,250	21.5%	34	9.7%	35	2.9%	22
Winooski	$410,000	13.9%	7	-36.40%	14	-12.5%	7

CONDO SALE PRICE	MEDIAN	VS 2023	UNITS SOLD	VS 2023	NEWLY LISTED	VS 2023	DAYS ON MARKET
Bolton	$315,000	11.3%	4	33.3%	4	33.3%	17
Burlington	$320,000	-15.0%	45	2.3%	87	70.6%	19
Charlotte	$350,000	0.0%	1	0.0%	2	100.0%	6
Colchester	$361,750	-8.4%	24	20.0%	37	19.4%	18
Essex	$353,250	-2.5%	39	8.3%	55	1.9%	29
Hinesburg	$545,000	89.2%	1	0.0%	3	50.0%	4
Jericho	$345,000	-9.5%	3	-25.0%	2	-60.0%	5
Milton	$488,952	103.7%	14	180.0%	17	21.4%	65
Richmond	n/a	0.0%	n/a	0.0%	1	0.0%	n/a
Shelburne	$510,000	-14.6%	13	-13.3%	29	81.3%	21
South Burlington	$339,000	1.2%	78	16.4%	107	39.0%	21
Williston	$460,000	8.9%	25	-10.7%	36	16.1%	13
Winooski	$339,000	-3.7%	7	-36.4%	10	-28.6%	12

Addison County Mid-Year Report

July, 2024August, 2024 by Coldwell Banker Hickok & Boardman

46 Riverview Street, Ferrisburgh, VT ~ Nestled on the banks of Otter Creek, with direct access to Lake Champlain, this property built in 2021 offers convenient one-level living with an open concept design.

The median sale price of single-family homes jumped nearly 10% in Addison County as inventory on the market did not see the rebound recognized in other areas of northwest Vermont. Closed sales dropped sharply, exceeding the rate of decline in previous years. Middlebury saw a 25% decline in closed sales, however, an increase in newly listed homes may turnaround those results in the 3rd quarter. While we may speculate that second home and luxury home purchasers paused during the first half of the year, the increase in the median sale price does not support that theory. With a small statistical sample over the 6 months of this report, we will have a better barometer as to the market trends in Addison County as the year progresses.

Single-Family January-June 2024
Median Sale Price:	Average Sale Price:	Units Sold:	Newly Listed:	Days on Market:
$412,500 +9.7%	$517,985 +10.9%	90 -25.6%	148 -13.5%	51 +41.7%

Condos January-June 2024
Median Sale Price:	Average Sale Price:	Units Sold:	Newly Listed:	Days on Market:
$385,000 +19.2%	$400,500 +5.0%	4 -50.0%	8 0.0%	22 +57.1%

SINGLE-FAMILY SALE PRICE	MEDIAN	VS 2023	UNITS SOLD	VS 2023	NEWLY LISTED	VS 2023	DAYS ON MARKET
Addison	$320,000	-39.5%	3	0.0%	8	14.3%	102
Bridport	$460,500	81.8%	2	-66.7%	7	-46.2%	309
Bristol	$380,000	3.8%	5	-58.3%	9	-35.7%	50
Cornwall	$1,075,000	104.8%	4	-20.0%	6	-25.0%	3
Ferrisburgh	$630,000	19.1%	8	-20.0%	15	-6.3%	24
Goshen	$297,500	0.0%	2	0.0%	1	0.0%	22
Granville	$126,000	-69.3%	1	-50.0%	1	-66.7%	5
Hancock	$349,000	-7.2%	1	0.0%	3	-40.0%	7
Leicester	$324,223	-27.0%	2	-50.0%	4	33.3%	97
Lincoln	$492,500	-26.1%	4	100.0%	6	200.0%	71
Middlebury	$410,000	11.6%	12	-25.0%	23	15.0%	28
Monkton	$558,500	45.1%	7	-22.2%	7	-41.7%	73
New Haven	$561,375	15.8%	6	20.0%	9	80.0%	19
Orwell	$350,000	16.9%	1	-90.0%	3	-72.7%	253
Panton	$340,000	1.5%	3	200.0%	5	66.7%	3
Ripton	n/a	0.0%	n/a	0.0%	2	-33.3%	n/a
Salisbury	$340,000	23.6%	4	33.30%	7	-22.2%	20
Shoreham	$389,500	-6.10%	8	60.00%	8	14.30%	124
Starksboro	$350,000	53.90%	3	-50.00%	5	-37.50%	48
Vergennes	$390,000	11.40%	11	0.00%	13	8.30%	19
Waltham	n/a	0.00%	n/a	0.00%	2	-33.30%	n/a
Weybridge	$410,000	-18.30%	3	-40.00%	3	-50.00%	8
Whiting	n/a	0.00%	n/a	0.00%	1	0.00%	n/a

Franklin County Mid-Year Report

July, 2024July, 2024 by Coldwell Banker Hickok & Boardman

493 Nichols Road, Fairfax, VT ~ Experience tranquility and versatility in this beautifully-maintained, 3-bedroom, 2-bath home featuring an adjacent 2-bedroom apartment.

There is lots of good news for the housing market in Franklin County. Still the most affordable of the counties in this report, sales of single-family homes and condos surged this year. This was fueled by a 15% increase in homes listed for sale. The data by city/town shows a clear correlation between the increase in inventory and the increase in closed sales. St. Albans, Swanton, Georgia, and Enosburg lead the way, while sales and inventory dropped sharply in Fairfax. The new inventory to market bodes well for buyers’ options in their home search.

Single-Family January-June 2024
Median Sale Price:	Average Sale Price:	Units Sold:	Newly Listed:	Days on Market:
$369,000 5.4%	$384,663 +7.3%	197 +8.2%	316 +14.5%	46 +2.2%

Condos January-June 2024
Median Sale Price:	Average Sale Price:	Units Sold:	Newly Listed:	Days on Market:
$314,000 +10.2%	$320,127 +6.1%	28 +100.0%	28 -9.7%	21 +162.5%

SINGLE-FAMILY SALE PRICE	MEDIAN	VS 2023	UNITS SOLD	VS 2023	NEWLY LISTED	VS 2023	DAYS ON MARKET
Bakersfield	$289,000	27.2%	7	75.0%	9	80.0%	14
Berkshire	$251,000	-8.1%	5	25.0%	10	100.0%	18
Enosburg	$286,500	-10.2%	12	71.4%	14	0.0%	58
Fairfax	$500,000	-4.4%	19	-40.6%	25	-24.2%	26
Fairfield	$511,950	-104.8%	8	60.0%	13	62.5%	47
Fletcher	$369,000	41.0%	3	200.0%	4	-33.3%	43
Franklin	$339,000	3.7%	4	-42.9%	8	-11.1%	15
Georgia	$464,000	-4.3%	17	21.4%	25	19.1%	27
Highgate	$376,000	-1.6%	5	-44.4%	21	0.0%	10
Montgomery	$280,000	30.7%	9	350.0%	11	37.5%	77
Richford	$192,000	-1.1%	12	-14.3%	19	-9.5%	64
Sheldon	$320,700	-0.2%	10	66.7%	15	36.4%	36
St. Albans	$375,000	-10.3%	51	4.1%	92	24.3%	51
Swanton	$375,000	-23.0%	35	25.0%	50	25.0%	60

Grand Isle County Mid-Year Report

July, 2024July, 2024 by Coldwell Banker Hickok & Boardman

241 East Shore North, Grand Isle, VT ~ Discover serenity in this 3-bedroom, 3-bath lakefront home on 10.4 acres, offering majestic views of Lake Champlain & the Green Mountains.

The housing market in Grand Isle is typically cooler during the first 6 months of the year. With only 37 sales during this period, the reported data can be misleading. The median sale price of single-family homes was stable at $400,000 yet lower than the 2023 year-end median price of $423,000. No luxury home sales have been closed so far in 2024, which is very likely to change during the summer months. 81 single family homes were listed during the period which will likely result in an increase in units sold through the 3rd and 4th quarters of the year.

Single-Family January-June 2024
Median Sale Price:	Average Sale Price:	Units Sold:	Newly Listed:	Days on Market:
$400,000 +1.5%	$467,828 -9.7%	37 -2.6%	81 +20.9%	65 +1.4%

SINGLE-FAMILY SALE PRICE	MEDIAN	VS 2023	UNITS SOLD	VS 2023	NEWLY LISTED	VS 2023	DAYS ON MARKET
Alburgh	$310,000	0.17	13	0	27	0.08	84
Grand Isle	$390,000	-0.025	11	0.222	21	0.313	38
Isle La Motte	$639,900	-0.049	5	0.25	10	0.111	112
North Hero	$656,250	0.563	4	-0.333	9	0.125	62
South Hero	$595,500	-0.062	4	-0.333	14	0.556	24

Vermont Mortgage update

July, 2024 by Coldwell Banker Hickok & Boardman

As we reach the half-way mark of 2024, low inventory and lack of affordable housing continue to be the focus with the Vermont housing market. According to Commerce Secretary Lindsay Kurrle, the state is currently experiencing a deficit of 6,800 housing units, which does not account for population growth, or the roughly 2,500-3,000 units lost to properties that fall into disrepair annually.

Noteworthy recent affordable housing trends in the Vermont market include an increase in borrowers using cosigners, gifts from family members and multiple homebuyers combining resources to qualify for multi-unit properties instead of renting. Additionally, there is a recognized need to bring new buyers into the housing market through down payment assistance, grants, and shared equity programs like VHFA’s “Assist Program” (DPA) program, FHLB’s “Housing Our Workforce” (HOW) grant, “Equity Builder Program” (EBP) grant, and Champlain Housing Trust shared equity programs.

Digging into the 2024 data we see that the average home value in Vermont has risen to $392,682. In fact, Vermont has seen the highest increase in home appreciation in the country (12.8%) over the past year. Lack of housing stock, seller hesitancy (homeowners not willing to abandon favorable mortgage rates on existing loans), as well as restrictions on construction (e.g., Act 250) and a looming state property tax increase have all combined to drive up affordability at the highest rate in the nation. Despite these hurdles, the number of homes sold in Vermont was up (0.9% year over year) as of the end of May. Union Bank mortgage originations are up 10.6% (in volume) year to date and we are seeing a significant increase in demand for our construction loan products.

Freddie Mac is currently reporting the 30-year fixed rate at 6.87% and they predict that will remain above 6.5% for the remainder of the year.

Affordable housing has been made a significant priority in the United States in 2024. The government has proposed a historic investment to address the nationwide shortfall in affordable housing. More than $258 billion has been allocated to build or preserve over 2 million housing units.

The National Association of Realtors (NAR) settlement brings some speculation surrounding buyer’s agent fees, and how prospective buyers will pay for these costs. Fannie Mae, Freddie Mac, and FHA announced they will not count buyer’s agent commissions as allowable interested party contributions, while the VA announced they would allow them under certain conditions.

Finally, it should be noted that significant amendments to the Vermont property transfer tax will be implemented as of August 1, 2024. These changes include an increased tax rate for non-homestead properties (rising from 1.25% to 3.4%), adjustments for principal residences (this rate has been reduced to 0.5% on the first $200,000 of the property’s value (up from the previous $100,000 threshold) and exemptions from the tax (for the first $250,000) for mortgages funded by VHFA and USDA.

NMLS# 402933

Lamoille County Mid-Year Report

July, 2024July, 2024 by Coldwell Banker Hickok & Boardman

2728 VT Rte 109, Cambridge, VT ~ An amazing off-grid opportunity awaits new owners of this beautiful solar powered, 2-bed, 1-bath home with stunning river & mountain views, woods, & large, private, sandy river beach.

Driven by the staggering $1,265,000 median sale price in Stowe, Lamoille County has the second highest median price across the counties in this report. The number of newly listed single-family homes increased across most towns in the county resulting in a 22% surge in inventory. Morristown and Stowe posted the majority of closed sales in the county. These numbers will likely increase through the summer and fall as a result of the healthy increase in new listings, offering buyers more options for their purchase.

Single-Family January-June 2024
Median Sale Price:	Average Sale Price:	Units Sold:	Newly Listed:	Days on Market:
$503,500 +2.3%	$743,956 +7.1%	93 -4.1%	182 +22.2%	63 +28.6%

Condos January-June 2024
Median Sale Price:	Average Sale Price:	Units Sold:	Newly Listed:	Days on Market:
$385,000 -20.9%	$714,729 -24.1%	31 -40.4%	54 +1.9%	74 -22.9%

SINGLE-FAMILY SALE PRICE	MEDIAN	VS 2023	UNITS SOLD	VS 2023	NEWLY LISTED	VS 2023	DAYS ON MARKET
Belvidere	$435,000	20.8%	1	0.0%		0.0%	221
Cambridge	$430,000	19.4%	6	-60.0%	11	-42.1%	29
Eden	$307,500	16.0%	8	14.3%	13	18.2%	38
Elmore	$450,000	-40.0%	2	0.0%	11	266.7%	60
Hyde Park	$375,000	25.0%	7	0.0%	11	0.0%	22
Johnson	$220,000	-43.5%	7	16.7%	15	25.0%	120
Morristown	$597,500	40.6%	30	42.9%	47	30.6%	83
Stowe	$1,265,000	4.6%	27	-12.9%	60	46.3%	30
Waterville	n/a	0.0%	n/a	0.0%	2	-50.0%	n/a
Wolcott	$229,385	-37.2%	5	0.0%	12	50.0%	147

CONDOS SALE PRICE	MEDIAN	VS 2023	UNITS SOLD	VS 2023	NEWLY LISTED	VS 2023	DAYS ON MARKET
Cambridge	$133,200	-52.0%	3	-62.5%	8	0.0%	54
Morristown	n/a	0.0%	n/a	0.0%	n/a	0.0%	n/a
Stowe	$405,500	-57.8%	28	-31.7%	46	9.5%	76

Washington County Mid-Year Report

July, 2024July, 2024 by Coldwell Banker Hickok & Boardman

Montpelier, Vermont’s charming capital city, is located in the north-central region of the state. Home to Vermont’s iconic golden dome of the Vermont State House, Montpelier holds the oldest active legislative halls in the United States that have preserved their original interior.

Home to the state capital of Montpelier, with Barre being the most populous municipality, the Washington County real estate market is robust and varied. A 6.6% increase in single family homes for sale helped meet buyer demand, increasing the number of closed sales by the same percentage. While the median price across the county is one of the most affordable in this report, there are broad ranges between the resort towns and the business & population centers.

Single-Family January-June 2024
Median Sale Price:	Average Sale Price:	Units Sold:	Newly Listed:	Days on Market:
$382,750 6.9%	$491,045 12.8%	192 6.7%	289 6.6%	46 12.2%

Condos January-June 2024
Median Sale Price:	Average Sale Price:	Units Sold:	Newly Listed:	Days on Market:
$325,000 3.7%	$361,832 2.9%	56 12.0%	67 -4.3%	23 -4.2%

Once again, severe storms in July caused widespread flooding across the area, damaging properties and infrastructure in Barre and Plainfield, among others. It is too soon to know how these areas will rebuild and what the effect will be on the housing market. In the meantime, the resiliency of Vermonters and support of our communities is strong.

SINGLE-FAMILY SALE PRICE	MEDIAN	VS 2023	UNITS SOLD	VS 2023	NEWLY LISTED	VS 2023	DAYS ON MARKET
Barre	$305,000	8.9%	68	15.3%	89	15.6%	33
Berlin	$345,000	-10.4%	3	-57.1%	11	10.0%	28
Cabot	$260,000	188.7%	7	600.0%	6	20.0%	73
Calais	$445,000	-21.9%	6	20.0%	11	-8.3%	100
Duxbury	$550,000	-8.3%	3	50.0%	4	0.0%	56
East Montpelier	$638,750	77.4%	10	400.0%	15	25.0%	49
Fayston	$939,000	47.6%	3	0.0%	8	-11.1%	15
Marshfield	$709,500	40.8%	3	-25.0%	11	120.0%	66
Middlesex	$447,500	-20.1%	8	700.0%	8	60.0%	36
Montpelier	$475,000	9.2%	19	-34.5%	32	-15.8%	34
Moretown	$650,000	59.5%	3	-62.5%	3	-62.5%	107
Northfield	$262,500	-4.6%	14	7.7%	17	-19.1%	55
Plainfield	$584,000	79.7%	4	-20.0%	9	12.5%	196
Roxbury	$344,500	-18.0%	2	100.0%	4	33.3%	19
Waitsfield	$770,000	68.3%	6	50.0%	7	40.0%	48
Warren	$975,000	25.3%	11	57.1%	18	157.1%	70
Waterbury	$779,000	67.4%	14	-22.20%	27	-6.9%	13
Woodbury	$242,000	-18.90%	6	-25.00%	4	-33.30%	59
Worcester	$451,750	-31.30%	2	-33.30%	5	-28.60%	7

Luxury Homes Mid-Year Report

July, 2024August, 2024 by Coldwell Banker Hickok & Boardman

197 Pease Mountain Road, Charlotte VT ~ Welcome to this oasis in Charlotte, nestled on over five acres of lush landscaped beauty.

In the luxury housing market, defined as residential properties priced at $1,000,000 or more, there was a notable increase in the number of units sold during the first half of 2024, even though the median sale price saw a 12% decline. This drop in median sale price does not reflect a decrease in the value of luxury properties but is attributed to the general rise in residential property prices. Over the past few years, home prices have surged by over 40%, pushing many homes initially priced in the $750,000 range into the $1,000,000+ range.

LuxuryJanuary-June 2024
Median Sale Price:	Average Sale Price:	Units Sold:	Newly Listed:	Days on Market:
$1,187,600 -12.0%	$1,717,355 13.7%	48 29.7%	32 -25.6%	51 -5.6%

Luxury homes are characterized not just by their price but by their quality and location. Traditionally, the top 10% of the market has been considered luxury. However, as the market evolves, future reports will likely see an increase in the benchmark for luxury homes.

In 2024, there has been a reported slowdown in showings of high-end properties. While mortgage interest rates typically do not impact luxury buyers, factors such as rising property taxes and the new property transfer taxes for second homes, effective August 1, 2024, are expected to influence the market through the end of the year and beyond.

Our agents have successfully closed 1 in 4 luxury transactions in northwest Vermont, outperforming all other real estate companies in the area. This success is due to our agents’ expertise and comprehensive marketing approach, showcasing luxury homes to affluent buyers locally, nationally, and globally through our affiliation with Coldwell Banker Global Luxury.

County	Top towns	Units Closed	Median Sale Price	Average Sale Price	Low	High
Addison		6	$1,249,000	$1,656,930	$1,008,580	$3,600,000
	Cornwall	2	$1,600,000	$1,600,000	$1,400,000	$1,800,000
	Ferrisburgh	2	$2,349,000	$2,349,000	$1,098,000	$3,600,000

Chittenden		39	$1,200,000	$1,769,163	$1,000,000	$14,100,000
	Burlington	6	$1,300,000	$1,359,833	$1,029,000	$1,835,000
	Charlotte	4	$2,415,000	$2,313,750	$1,200,000	$3,225,000
	Colchester	5	$1,175,200	$1,337,040	$1,000,000	$2,010,000
	Essex	2	$1,449,500	$1,449,500	$1,249,000	$1,650,000
	Shelburne	4	$2,680,000	$5,158,750	$1,175,000	$14,100,000
	South Burlington	3	$1,053,000	$1,102,835	$1,005,504	$1,250,000
	Underhill	4	$1,117,500	$1,259,750	$1,004,000	$1,800,000
	Williston	6	$1,142,500	$1,275,833	$1,020,000	$1,650,000

Franklin		3	$1,167,120	$1,164,707	$1,127,000	$1,200,000
Lamoille		27	$1,495,000	$1,866,574	$1,000,000	$3,550,000
	Morristown	3	$1,550,000	$1,928,667	$1,036,000	$3,200,000
	Stowe	24	$1,462,500	$1,858,812	$1,000,000	$3,550,000
Washington		14	$1,280,000	$1,459,821	$1,060,000	$2,540,000
	Warren	6	$1,300,000	$1,359,833	$1,029,000	$1,835,000
	Waterbury	3	$1,260,000	$1,373,333	$1,060,000	$1,800,000

Multi-Family Homes Mid-Year Report

July, 2024July, 2024 by Coldwell Banker Hickok & Boardman

39-41 King Street, Burlington, VT ~ This multi-family 4-unit building presents a lucrative prospect for both investors and residents alike.

Over the past year, many real estate investors paused as higher mortgage interest rates adversely affected the purchase opportunities in the market. These properties are a desirable property class in large part due to low vacancy rates, rising rents, steady appreciation and tax benefits therefore, owners seemed to be holding on to their properties longer than normal. We are starting to see a slight shift in this part of the market now with a significant increase in newly listed properties. The effect of more inventory available should be evident through the remainder of 2024.

Single-Family January-June 2024
Median Sale Price:	Average Sale Price:	Units Sold:	Newly Listed:	Days on Market:
$525,000 +3.5%	$572,285 +1.4%	48 -4.0%	107 +40.8%	58 +20.8%

MULTI-FAMILY	MEDIAN SALE PRICE	VS 2023	UNITS SOLD	VS 2023	NEWLY LISTED	VS 2023	DAYS ON MARKET	VS 2023
Chittenden County	$576,000	0.20%	$33	-5.7%	79	51.90%	44	25.7%
Addison County	$445,000	55.60%	$4	-42.9%	8	0.00%	60	-46.9%
Franklin County	$327,000	13.70%	11	37.5%	18	20.00%	100	112.8%
Lamoille County	$255,000	-29.70%	$5	25.0%	8	0.00%	58	-32.6%
Washington County	$278,500	-2.30%	$20	-31.0%	39	14.70%	70	37.3%

Northwest Vermont Land Mid-Year Report

July, 2024July, 2024 by Coldwell Banker Hickok & Boardman

38 Featherbed Lane, South Hero, VT ~ Enjoy spectacular sunrises from this truly special piece of waterfront property perched up high over Lake Champlain.

The number of land parcels sold continues to decline from the height of this market segment in 2021. These results may not accurately reflect buyer interest as much as the lack of options for buyers seeking an ideal parcel to build their dream home. The days on the market (DOM) for sold parcels has declined to under 4 months demonstrating that buyers are ready to make a move when the right property hits the market. The median sold price increased sharply in Washington County and modestly in Chittenden County while Franklin County pricing readjusted after an 18% increase in 2023. With relatively small numbers of transactions, the median sale price can swing up or down, not necessarily demonstrating the appreciation or depreciation of land values.

Single-Family January-June 2024
Median Sale Price:	Units Sold:	Newly Listed:	Days on Market:
$150,000 +3.8%	79 -14.1%	153 -5.6%	134 +3.1%

LAND	MEDIAN SALE PRICE	VS 2023	UNITS SOLD	VS 2023	NEWLY LISTED	VS 2023	DAYS ON MARKET	VS 2023
Chittenden County	$225,000	8.20%	$23	-8.0%	43	0.194	76	-38.7%
Addison County	$127,500	-13.90%	$24	-20.0%	33	-0.353	150	21.0%
Franklin County	$89,900	-28.70%	19	-34.5%	55	0.058	99	-17.5%
Grand Isle County	$86,000	-8.30%	$13	62.5%	22	-0.044	255	20.9%
Lamoille County	$88,000	-8.80%	$27	3.9%	62	0.378	168	17.5%
Washington County	$199,000	53.10%	$33	-35.3%	55	-0.179	101	16.1%