{"id":915,"date":"2016-10-25T14:16:38","date_gmt":"2016-10-25T18:16:38","guid":{"rendered":"https:\/\/www.hickokandboardman.com\/vermont-market-report\/?p=915"},"modified":"2022-11-06T09:41:11","modified_gmt":"2022-11-06T14:41:11","slug":"franklin-county-has-more-than-11-months-of-inventory-on-hand","status":"publish","type":"post","link":"https:\/\/www.hickokandboardman.com\/vermont-market-report\/2016\/10\/franklin-county-has-more-than-11-months-of-inventory-on-hand\/","title":{"rendered":"Franklin County has More  Than 11 months of Inventory on Hand"},"content":{"rendered":"<figure id=\"attachment_916\" aria-describedby=\"caption-attachment-916\" style=\"width: 1586px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-916 size-full\" src=\"https:\/\/www.hickokandboardman.com\/vermont-market-report\/wp-content\/uploads\/2016\/10\/Franklin-County-Real-Estate-Fall-2016.jpg\" alt=\"\" width=\"1596\" height=\"458\" srcset=\"https:\/\/www.hickokandboardman.com\/vermont-market-report\/wp-content\/uploads\/2016\/10\/Franklin-County-Real-Estate-Fall-2016.jpg 1596w, https:\/\/www.hickokandboardman.com\/vermont-market-report\/wp-content\/uploads\/2016\/10\/Franklin-County-Real-Estate-Fall-2016-300x86.jpg 300w, https:\/\/www.hickokandboardman.com\/vermont-market-report\/wp-content\/uploads\/2016\/10\/Franklin-County-Real-Estate-Fall-2016-1024x294.jpg 1024w\" sizes=\"(max-width: 1596px) 100vw, 1596px\" \/><figcaption id=\"caption-attachment-916\" class=\"wp-caption-text\">Beautifully designed 2007 home in private country location yet close to all services and I-89. Fairfield.<\/figcaption><\/figure>\n\n<table id=\"tablepress-47\" class=\"tablepress tablepress-id-47 market_averages tablepress-responsive\">\n<thead>\n<tr class=\"row-1\">\n\t<th class=\"column-1\">County Averages<\/th><th class=\"column-2\"><\/th><th class=\"column-3\"><\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr class=\"row-2\">\n\t<td class=\"column-1\">Median Sale Price:<\/td><td class=\"column-2\">Units Sold:<\/td><td class=\"column-3\">Days on Market:<\/td>\n<\/tr>\n<tr class=\"row-3\">\n\t<td class=\"column-1\">$204,900 (+7%)<\/td><td class=\"column-2\">461 (+22%)<br \/>\n<\/td><td class=\"column-3\">165 (-9%)<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<!-- #tablepress-47 from cache -->\n<p><img loading=\"lazy\" decoding=\"async\" class=\"  alignright wp-image-917 \" src=\"https:\/\/www.hickokandboardman.com\/vermont-market-report\/wp-content\/uploads\/2016\/10\/Franklin-County-Median-Sale-Price.jpg\" alt=\"\" width=\"274\" height=\"425\" \/><strong>Franklin County is increasingly popular with first-time homebuyers and professionals who are seeking more space for their money than in neighboring <a href=\"https:\/\/www.hickokandboardman.com\/vermont\/chittenden-county.html\">Chittenden County<\/a>. With gas prices remaining stable, the county is a <a href=\"https:\/\/www.hickokandboardman.com\/vermont\/special-markets\/affordable-homes-northwest-vermont.html\">more affordable option<\/a> for professionals who commute into Burlington or other locations than in previous years.<\/strong><\/p>\n<p><a href=\"https:\/\/www.hickokandboardman.com\/vermont\/franklin-county.html\">Franklin County<\/a> has more than 11 months of inventory on hand, although that marks a decline from a year earlier, when the market had almost 16 months of inventory.<\/p>\n<h3>Affordability: Still A Draw<\/h3>\n<ul>\n<li>With tighter inventory in both Franklin and Chittenden counties, buyers are pushing up prices. The median sale price in Franklin County rose 3.1% to $202,000, marking a rare instance of the county\u2019s median sale price tipping above the $200,000 mark.<\/li>\n<li>The median sale price of $204,900 is the lowest among the four counties in Northwest Vermont.<br \/>\nPricing and demand varies considerably within Franklin County, however. Our Realtors note that buyers are gravitating to towns on the western side of the county, such as <a href=\"https:\/\/www.hickokandboardman.com\/vermont\/franklin-county\/georgia-real-estate.html\">Georgia<\/a> and <a href=\"https:\/\/www.hickokandboardman.com\/vermont\/franklin-county\/st-albans-real-estate.html\">St. Albans<\/a>, because they\u2019re closer to I-89 and attractive to commuters. Towns on the eastern side of the county are seeing both lower pricing and demand.<\/li>\n<li>Homes are selling at about 97% of their listing price, illustrating buyers\u2019 demand for moderately priced housing in the region.<br \/>\nDemand is driving up prices. The median sale price through September jumped 7% to $204,900, while the number of sales rose 22%.<\/li>\n<\/ul>\n<h3>St. Albans: A Revitalization<\/h3>\n<ul>\n<li>A $3 million renovation to St. Albans City\u2019s Main Street has drawn praise from the likes of the Montreal Gazette, which said in a recent article that the city \u201chas never looked so good.\u201d<br \/>\nSales in St. Albans City jumped 47% during the first 9 months of 2016. St. Albans Town is also benefitting, with sales rising 26%.<\/li>\n<li>The I-89 Adjacent Towns<\/li>\n<li>Buyers are also turning to Georgia and <a href=\"https:\/\/www.hickokandboardman.com\/vermont\/franklin-county\/fairfax-real-estate.html\">Fairfax<\/a>, which both offer quick access to I-89. Residential sales in Georgia rose 41% for the first 9 months of the year, while Fairfax\u2019s sales jumped 10%.<\/li>\n<\/ul>\n<h3>Land and Multi-Family Sales<\/h3>\n<ul>\n<li><a href=\"https:\/\/www.hickokandboardman.com\/vermont\/special-markets\/land-sale-franklin-county.html\">Land<\/a> purchases are heating up. A stronger economy and tight inventory are prompting some professionals and retirees to buy land and custom-build homes.<\/li>\n<li>The number of land sales jumped 59% this year through September, while the median sale price was little changed at $70,000.<\/li>\n<li>Stronger <a href=\"https:\/\/www.hickokandboardman.com\/vermont\/special-markets\/multi-family-homes-sale-franklin-county.html\">multi-family<\/a> sales. While Chittenden County is the biggest market for multi-family properties, Franklin County has a smaller, but growing, share.<\/li>\n<li>The number of sales in the county rose 13% to 18 transactions, although the median sale price slipped 19%.<\/li>\n<\/ul>\n<hr \/>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-918\" src=\"https:\/\/www.hickokandboardman.com\/vermont-market-report\/wp-content\/uploads\/2016\/10\/Franklin-County-Real-Estate-by-town-Fall-2016.jpg\" alt=\"CBHB_Oct2016.indd\" width=\"1031\" height=\"376\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Franklin County is increasingly popular with first-time homebuyers and professionals who are seeking more space for their money than in neighboring Chittenden County. With gas prices remaining stable, the county is a more affordable option for professionals who commute into Burlington or other locations than in previous years. Franklin County has more than 11 months &#8230; <a class=\"read-more\" href=\"https:\/\/www.hickokandboardman.com\/vermont-market-report\/2016\/10\/franklin-county-has-more-than-11-months-of-inventory-on-hand\/\">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":[9],"tags":[],"_links":{"self":[{"href":"https:\/\/www.hickokandboardman.com\/vermont-market-report\/wp-json\/wp\/v2\/posts\/915"}],"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=915"}],"version-history":[{"count":7,"href":"https:\/\/www.hickokandboardman.com\/vermont-market-report\/wp-json\/wp\/v2\/posts\/915\/revisions"}],"predecessor-version":[{"id":3850,"href":"https:\/\/www.hickokandboardman.com\/vermont-market-report\/wp-json\/wp\/v2\/posts\/915\/revisions\/3850"}],"wp:attachment":[{"href":"https:\/\/www.hickokandboardman.com\/vermont-market-report\/wp-json\/wp\/v2\/media?parent=915"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.hickokandboardman.com\/vermont-market-report\/wp-json\/wp\/v2\/categories?post=915"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.hickokandboardman.com\/vermont-market-report\/wp-json\/wp\/v2\/tags?post=915"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}