{"id":253,"date":"2015-07-20T15:38:22","date_gmt":"2015-07-20T19:38:22","guid":{"rendered":"http:\/\/www.hickokandboardman.com\/vermont-market-report-new\/?p=253"},"modified":"2018-07-24T10:17:30","modified_gmt":"2018-07-24T14:17:30","slug":"slower-demand-high-end-property","status":"publish","type":"post","link":"https:\/\/www.hickokandboardman.com\/vermont-market-report\/2015\/07\/slower-demand-high-end-property\/","title":{"rendered":"Slower Demand for High End Property"},"content":{"rendered":"

The luxury residential market in Northwest Vermont offers a range of spectacular properties, drawing\u00a0buyers interested in waterfront estates, country properties, as well as stately city residences.<\/strong><\/p>\n

While our Agents are seeing signs of renewed activity in the luxury market, this segment has been slower to\u00a0recover than the region\u2019s mid-range housing. One reason may be Vermont\u2019s relatively high property taxes,\u00a0which may potentially dissuade vacation-home buyers from purchasing in the state. Below are a few trends\u00a0that are impacting the market for homes above $800,000.<\/p>\n

\n

A Slower Pace<\/h3>\n

Sellers have readjusted their expectations for sales prices amid slower demand for high-end property. That\u00a0means buyers may find excellent values among the region\u2019s luxury properties, with some homes selling below\u00a0assessed value.<\/p>\n

City Living<\/h3>\n

Our Agents note that buyers are increasingly looking for high-end homes in or close to Burlington because of\u00a0a desire to be near restaurants, the arts, and the University of Vermont Medical Center.<\/p>\n

Waterfront Property<\/h3>\n

Buyers seeking waterfront properties are interested in homes with higher elevations and seawalls in good\u00a0condition, given concerns about flooding.<\/p>\n

Traditionally, the region\u2019s waterfront properties have maintained a strong draw on luxury buyers. However, the first\u00a0half of 2015 has seen a shift toward properties closer to town or with large acreage. Only four of this year\u2019s sales\u00a0included waterfront access.<\/p>\n

\n

Chittenden County represented the bulk of high-end sales, with nine transactions above $800,000. Four sales were\u00a0located in Addison County, while Grand Isle recorded one transaction.<\/p>\n

\"CBHB_2015_Spring_NewGraph_Luxury\"<\/p>\n\n\n\n\n\t\n\n\t\n\t
MARKET INSIGHTS<\/th>\n<\/tr>\n<\/thead>\n
Four of this year\u2019s fourteen $800,00-plus home sales are waterfront properties.<\/td>\n<\/tr>\n
Nine of this year\u2019s luxury sales are located in Chittenden County.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n","protected":false},"excerpt":{"rendered":"

The luxury residential market in Northwest Vermont offers a range of spectacular properties, drawing\u00a0buyers interested in waterfront estates, country properties, as well as stately city residences. While our Agents are seeing signs of renewed activity in the luxury market, this segment has been slower to\u00a0recover than the region\u2019s mid-range housing. One reason may be Vermont\u2019s … 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":[3],"tags":[],"_links":{"self":[{"href":"https:\/\/www.hickokandboardman.com\/vermont-market-report\/wp-json\/wp\/v2\/posts\/253"}],"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=253"}],"version-history":[{"count":18,"href":"https:\/\/www.hickokandboardman.com\/vermont-market-report\/wp-json\/wp\/v2\/posts\/253\/revisions"}],"predecessor-version":[{"id":1509,"href":"https:\/\/www.hickokandboardman.com\/vermont-market-report\/wp-json\/wp\/v2\/posts\/253\/revisions\/1509"}],"wp:attachment":[{"href":"https:\/\/www.hickokandboardman.com\/vermont-market-report\/wp-json\/wp\/v2\/media?parent=253"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.hickokandboardman.com\/vermont-market-report\/wp-json\/wp\/v2\/categories?post=253"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.hickokandboardman.com\/vermont-market-report\/wp-json\/wp\/v2\/tags?post=253"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}