{"id":1603,"date":"2018-02-06T12:32:07","date_gmt":"2018-02-06T17:32:07","guid":{"rendered":"https:\/\/www.hickokandboardman.com\/vermont-market-report\/?p=1603"},"modified":"2022-11-06T11:07:58","modified_gmt":"2022-11-06T16:07:58","slug":"downsizing-homeowners-and-rightsizing-first-time-buyers-are-in-the-market-for-the-same-homes","status":"publish","type":"post","link":"https:\/\/www.hickokandboardman.com\/vermont-market-report\/2018\/02\/downsizing-homeowners-and-rightsizing-first-time-buyers-are-in-the-market-for-the-same-homes\/","title":{"rendered":"Downsizing homeowners and rightsizing first-time buyers are in the market for the same homes"},"content":{"rendered":"
\"\"<\/a>
This home sits on over 5 acres with scenic country views in Shelburne<\/a>.| MLS# 4667841<\/a><\/figcaption><\/figure>\n

\n\n\n\n\t\n\n\t\n\t
Single 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
$322,000 (+4.2%)<\/td>$367,836 (+3.4%)<\/td>1,256 (-1.0%)<\/td>1,571(-3.6%)<\/td>72 (-5.3%)<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n
\n\n\n\n\n\t\n\n\t\n\t
Condo<\/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
$232,000 (+4.0%)<\/td>$259,649 (+3.9%)<\/td>642 (-4.0%)<\/td>713 (-0.8%)<\/td>81 (+17.4%)<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n
\n<\/strong>\"\"<\/a><\/strong><\/p>\n

The median and average sales prices of single-family homes and condos rose in Chittenden County by 3-4% for the second straight year, while the median price for land rose by 8%.\u00a0\u00a0<\/strong><\/p>\n

Chittenden County<\/a> is an example of how a change in market demand has caused an increase in land sales<\/a>, which were up here by almost 14% compared to all of 2016. Downsizing homeowners (Baby Boomers) and rightsizing first-time buyers <\/a>(Millennials) are in the market for the same homes \u2014 small and efficient, and near amenities \u2014 so developers are seeking parcels and starting the permitting process to fill those housing needs.<\/p>\n

Therefore, the boost of land sales in Chittenden County could be a direct result of a decreased inventory in single-family homes and condos since 2015. New developments<\/a> such as Hillside at O\u2019Brien Farm<\/a> in South Burlington are creating buzz in northwestern Vermont as homeowners look toward easy-maintenance living near town, village and city centers. (Construction has started on Hillside. The first homeowners move in this spring.)<\/p>\n

The number of newly listed single-family homes and condos dipped across Chittenden County, but Burlington<\/a>, Colchester<\/a> and South Burlington<\/a> all saw increases in newly listed properties<\/a>, compared to 2016. Those towns also saw a boost in closings, because inventory increased. These results are positive \u2014 and bode well for the market overall \u2014 but these increases come in the wake of dramatic declines in 2016 inventory and sales in those towns.<\/p>\n

\"\"<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The median and average sales prices of single-family homes and condos rose in Chittenden County by 3-4% for the second straight year, while the median price for land rose by 8%.\u00a0\u00a0 Chittenden County is an example of how a change in market demand has caused an increase in land sales, which were up here by … 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":[4],"tags":[],"_links":{"self":[{"href":"https:\/\/www.hickokandboardman.com\/vermont-market-report\/wp-json\/wp\/v2\/posts\/1603"}],"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=1603"}],"version-history":[{"count":10,"href":"https:\/\/www.hickokandboardman.com\/vermont-market-report\/wp-json\/wp\/v2\/posts\/1603\/revisions"}],"predecessor-version":[{"id":3874,"href":"https:\/\/www.hickokandboardman.com\/vermont-market-report\/wp-json\/wp\/v2\/posts\/1603\/revisions\/3874"}],"wp:attachment":[{"href":"https:\/\/www.hickokandboardman.com\/vermont-market-report\/wp-json\/wp\/v2\/media?parent=1603"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.hickokandboardman.com\/vermont-market-report\/wp-json\/wp\/v2\/categories?post=1603"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.hickokandboardman.com\/vermont-market-report\/wp-json\/wp\/v2\/tags?post=1603"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}