{"id":1181,"date":"2017-05-08T09:01:41","date_gmt":"2017-05-08T13:01:41","guid":{"rendered":"https:\/\/www.hickokandboardman.com\/vermont-market-report\/?p=1181"},"modified":"2022-11-06T10:24:57","modified_gmt":"2022-11-06T15:24:57","slug":"multi-family-market-has-strong-buyer-demand-but-inventory-remains-low","status":"publish","type":"post","link":"https:\/\/www.hickokandboardman.com\/vermont-market-report\/2017\/05\/multi-family-market-has-strong-buyer-demand-but-inventory-remains-low\/","title":{"rendered":"Multi-Family Market has Strong Buyer Demand, but Inventory Remains Low"},"content":{"rendered":"
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Prime Burlington Hill Section – 11 Units. Rare chance to invest in one of the strongest rental markets in New England. | MLS# 4615430<\/figcaption><\/figure>\n\n\n\n\n\t\n\n\t\n\t
Multi-Family<\/th><\/th><\/th><\/th><\/th>\n<\/tr>\n<\/thead>\n
Median Sale Price:<\/td>Average Sale Price:<\/td>Units Sold:<\/td>Newly Listed:<\/td>Days on Market:<\/td>\n<\/tr>\n
$285,000 (-18.9%)<\/td>$296,039 (-24.3%)<\/td>27(-3.6%)<\/td>50<\/td>64 (-27%)<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n

\"\"The Multi-Family<\/a> market, largely driven by Chittenden County<\/a>, is experiencing similar trends as the residential real estate market: steady buyer demand, tempered by lower inventory levels.
\n<\/strong><\/p>\n

Over the past year, the historically low vacancy rate has eased a bit, however, Investors continue to show strong demand for multi-family properties given favorable trends such as a diverse professional base, consistent hiring by local institutions and businesses, and the delay of millennial buyers saddled with student loan debt to purchase their first home.<\/p>\n

The decline in average and median sold prices is a result of a small number of properties sold in the 1st quarter of the year coupled with a high-priced property sold in 2016 which has a strong effect on the data. The decline is not a result of depreciation.<\/p>\n

Our Agents report that larger, high-priced properties are not coming to market as Investors choose to hold on to those properties.<\/p>\n

With well-positioned, multi-family units selling quickly \u2013 some buyers are considering single-family homes in renter-friendly neighborhoods as an investment opportunity.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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, the historically low vacancy rate has eased a bit, however, Investors continue to show strong demand for multi-family properties given favorable trends such as a … Read more<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"_links":{"self":[{"href":"https:\/\/www.hickokandboardman.com\/vermont-market-report\/wp-json\/wp\/v2\/posts\/1181"}],"collection":[{"href":"https:\/\/www.hickokandboardman.com\/vermont-market-report\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.hickokandboardman.com\/vermont-market-report\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.hickokandboardman.com\/vermont-market-report\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.hickokandboardman.com\/vermont-market-report\/wp-json\/wp\/v2\/comments?post=1181"}],"version-history":[{"count":9,"href":"https:\/\/www.hickokandboardman.com\/vermont-market-report\/wp-json\/wp\/v2\/posts\/1181\/revisions"}],"predecessor-version":[{"id":3861,"href":"https:\/\/www.hickokandboardman.com\/vermont-market-report\/wp-json\/wp\/v2\/posts\/1181\/revisions\/3861"}],"wp:attachment":[{"href":"https:\/\/www.hickokandboardman.com\/vermont-market-report\/wp-json\/wp\/v2\/media?parent=1181"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.hickokandboardman.com\/vermont-market-report\/wp-json\/wp\/v2\/categories?post=1181"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.hickokandboardman.com\/vermont-market-report\/wp-json\/wp\/v2\/tags?post=1181"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}