Coldwell Banker Hickok & Boardman Realty's Fall 2014 Real Estate Market Report is an analysis of Northwest Vermont's third quarter market results. Read on to find out current market trends in your town. Contact me today with questions on your LOCAL real estate market!
This report provides detailed real estate market information on Chittenden, Franklin, Grand Isle and Addison counties. Within each county report, you can also find a breakdown by town. Having up-to-date information on current real estate market conditions in your area can help you both as a Buyer and a Seller! If you have any questions about this report or want to talk about a specific property or locale, please contact me today!
*All statistical information below is a comparison of the third quarter of 2014 to the third quarter of 2013.
CHITTENDEN COUNTY VT REAL ESTATE MARKET REPORT
Pricing remained stable in the first nine months of this year, with the median sale price for residential properties increasing by 2.9%. While prices rose slightly, the number of sold transactions declined by 4.3%. Homes in the $250,000 to $350,000 range remain in high demand, but inventory in that segment is low. Above $500,000, there is much more inventory, allowing buyers to be much more selective. Be sure to check more town-specific market data for Chittenden county here!
BURLINGTON VT REAL ESTATE MARKET REPORT
Burlington remains a desirable market for homebuyers. This, combined with a very tight inventory, has driven up the median sale price by 9.9%- although this increase is more prevalent on home sales below $500,000.
SHELBURNE VT REAL ESTATE MARKET REPORT
Shelburne posted strong pricing gains with the median sale price rising 12.8% to $391,000. Buyers there are attracted by the Village charm, proximity to Burlington, and lakefront access.
LUXURY REAL ESTATE MARKET REPORT
This real estate report also provides insight on the Luxury Market. Northwest Vermont's luxury median sale price this quarter is $1.24 million. Ten $1 million-plus homes has been recorded so far this year. Waterfront properties dominate with seven of the sold properties located on the shores of Lake Champlain. Seven of the sales were located in Chittenden County, two were recorded in Addison County, and the final sale was in Grand Isle. Buyers have a wide range of high-end properties to choose from. These properties take time to market, although well-priced luxury homes sell more quickly than others.
The complete report is currently available online only at www.VermontMarketReport.com.