{"id":4382,"date":"2023-08-02T14:21:11","date_gmt":"2023-08-02T18:21:11","guid":{"rendered":"https:\/\/www.hickokandboardman.com\/vermont-market-report\/?p=4382"},"modified":"2023-08-02T14:21:33","modified_gmt":"2023-08-02T18:21:33","slug":"vermont-multi-family-market-results","status":"publish","type":"post","link":"https:\/\/www.hickokandboardman.com\/vermont-market-report\/2023\/08\/vermont-multi-family-market-results\/","title":{"rendered":"Vermont Multi-Family Market Results"},"content":{"rendered":"

\"\"<\/p>\n\n\n\n\n\t\n\n\t\n\t
Single-Family January-June 2023<\/th><\/th><\/th>\n<\/tr>\n<\/thead>\n
Median Sale Price:<\/td>Units Sold:<\/td>Newly Listed:<\/td>Days on Market:<\/td>\n<\/tr>\n
$507,500 2.6%<\/td>50 -52.8%<\/td>76 -48.5%<\/td>48 -2.0%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n

The multi-family market continues to provide owners with solid and predictable investment opportunities.  In Northwest Vermont, the median price grew a modest 2.6% while posting a 45% gain since 2020.  Despite the increase in mortgage interest rates over the past year, demand remains strong for Burlington and Chittenden County properties. In Chittenden County, where 70% of the multi- family sales closed, the median price jumped 10% over the same time last year. <\/strong><\/p>\n

These properties are a desirable property class in large part due to low vacancy rates, rising rents, steady appreciation, tax benefits, and a hedge against stock market fluctuations. Owners may be holding onto properties as they perceive a lack of alternative investment options and don\u2019t want to give up their pre-2022, low mortgage rates. The 53% decline in sales is a direct correlation to lack of inventory versus demand. Well-located and well-maintained properties, as usual, continue to draw the most interest, selling quickly, in many cases at or above list price.<\/p>\n

\"\"<\/p>\n

\"\"<\/p>\n\n\n\n\n\t\n\n\t\n\t\n\t
<\/th>MEDIAN SALE PRICE<\/th>VS 2022<\/th>UNITS SOLD<\/th>VS 2022<\/th>NEWLY LISTED<\/th>VS 2022<\/th>DAYS ON MARKET<\/th>VS 2022<\/th>\n<\/tr>\n<\/thead>\n
Chittenden County<\/td>$575,000<\/td>10.1%<\/td>35<\/td>-57.3%<\/td>52<\/td>-51.9%<\/td>35<\/td>-12.5%<\/td>\n<\/tr>\n
Addison County<\/td>$286,000<\/td>-32.7%<\/td>7<\/td>40.0%<\/td>8<\/td>-46.7%<\/td>113<\/td>79.4%<\/td>\n<\/tr>\n
Franklin County<\/td>$287,500<\/td>-3.2%<\/td>8<\/td>-55.6%<\/td>15<\/td>-16.7%<\/td>47<\/td>-44.1%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n","protected":false},"excerpt":{"rendered":"

The multi-family market continues to provide owners with solid and predictable investment opportunities.  In Northwest Vermont, the median price grew a modest 2.6% while posting a 45% gain since 2020.  Despite the increase in mortgage interest rates over the past year, demand remains strong for Burlington and Chittenden County properties. In Chittenden County, where 70% … 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\/4382"}],"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=4382"}],"version-history":[{"count":2,"href":"https:\/\/www.hickokandboardman.com\/vermont-market-report\/wp-json\/wp\/v2\/posts\/4382\/revisions"}],"predecessor-version":[{"id":4403,"href":"https:\/\/www.hickokandboardman.com\/vermont-market-report\/wp-json\/wp\/v2\/posts\/4382\/revisions\/4403"}],"wp:attachment":[{"href":"https:\/\/www.hickokandboardman.com\/vermont-market-report\/wp-json\/wp\/v2\/media?parent=4382"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.hickokandboardman.com\/vermont-market-report\/wp-json\/wp\/v2\/categories?post=4382"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.hickokandboardman.com\/vermont-market-report\/wp-json\/wp\/v2\/tags?post=4382"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}