{"id":1895,"date":"2018-07-23T14:37:37","date_gmt":"2018-07-23T18:37:37","guid":{"rendered":"https:\/\/www.hickokandboardman.com\/vermont-market-report\/?p=1895"},"modified":"2020-12-22T09:38:52","modified_gmt":"2020-12-22T14:38:52","slug":"multi-family-listings-see-16-drop-despite-strong-demand","status":"publish","type":"post","link":"https:\/\/www.hickokandboardman.com\/vermont-market-report\/2018\/07\/multi-family-listings-see-16-drop-despite-strong-demand\/","title":{"rendered":"Multi Family Sales Soar With Robust Increases in Units Closed & Median Sale Prices"},"content":{"rendered":"
\"\"
Great Victorian, well maintained, two unit home in quaint village of Bakersfield.Multi-Family Homes<\/a><\/figcaption><\/figure>\n

\n\n\n\n\t\n\n\t\n\t
Northwest Vermont<\/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
$310,000 (+10.7%)<\/td>$450,155 (+39.9%)<\/td>78 (+36.8%)<\/td>98 (-16.2%)<\/td>109 (-0.9%)<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n
\n\n\n\n\n\t\n\n\t\n\t
Chittenden County <\/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
$377,500 (+13.8%)<\/td> $519,974 (+15.4%)<\/td>107 (+23%)<\/td>123 (-12.8%)<\/td>72 (+4.6%)<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n

\"\"Investors continue to show strong demand for multi \u2013 family properties<\/a> especially in Chittenden County<\/a> which accounts for 65% of the total units closed in northwest Vermont during the 1st six months of the year.
\n<\/strong><\/p>\n

The number of properties listed during the time frame dropped more than 16% and, since 2015, the properties available has declined 38%. Limited inventory coupled with the demand pushed the median price of multi-family homes up 11% across the region and 13% in Chittenden County. A few high-priced sales in Burlington<\/a> drove the average sale price up to more than $575,000. Despite the building of newer apartment complexes and a slight easing of the historically low vacancy rate \u2013 demand is still high from renters. Amenities included in the newer complexes are appealing to tenants – however, these units may come with higher rents. Therefore, investors seek out opportunities<\/a> by purchasing more traditional, multi-family buildings or single-family properties in neighborhoods to meet the pent-up demand.<\/p>\n

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

Investors continue to show strong demand for multi \u2013 family properties especially in Chittenden County which accounts for 65% of the total units closed in northwest Vermont during the 1st six months of the year. The number of properties listed during the time frame dropped more than 16% and, since 2015, the properties available has … 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\/1895"}],"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=1895"}],"version-history":[{"count":6,"href":"https:\/\/www.hickokandboardman.com\/vermont-market-report\/wp-json\/wp\/v2\/posts\/1895\/revisions"}],"predecessor-version":[{"id":3036,"href":"https:\/\/www.hickokandboardman.com\/vermont-market-report\/wp-json\/wp\/v2\/posts\/1895\/revisions\/3036"}],"wp:attachment":[{"href":"https:\/\/www.hickokandboardman.com\/vermont-market-report\/wp-json\/wp\/v2\/media?parent=1895"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.hickokandboardman.com\/vermont-market-report\/wp-json\/wp\/v2\/categories?post=1895"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.hickokandboardman.com\/vermont-market-report\/wp-json\/wp\/v2\/tags?post=1895"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}