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Year in Review: 2014 VT Real Estate Market Report

Coldwell Banker Hickok & Boardman Realty's Year in Review: 2014 Northwest Vermont Real Estate Market Report is an analysis of Northwest Vermont's 2014 market results & trends to watch in 2015. 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. 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!

KEY POINTS

At the start of 2015, Vermont's housing market is benefiting from some positive local and national trends, including historically low mortgage rates and an improving employment market. While there are reasons for optimism, some issues remain as an overhang from 2014, which resulted in an uneven year for Northwest Vermont's real estate market, with a slowdown during the winter and summer months followed by a pickup in fourth quarter sales. Overall in 2014, Northwest Vermont posted a 0.7% decline in sales volume, while the median sale price rose 0.9%.

CHITTENDEN COUNTY VT REAL ESTATE MARKET REPORT

After sales volume slipped 6.5% during the first nine months of 2014, home sales in Chittenden County roared back in the fourth quarter. There was a nearly 20% jump in residential sales during the last three months of the year which helped the county's real estate market end the year with only a 0.8% decline from 2013. Despite the year's bumpy transaction levels, the median sale price rose 2.3% to $261,500. Some towns saw robust pricing gains, with Shelburne's median sale price jumping more than 26%, for instance. Real the full Chittenden County report here!

BURLINGTON VT REAL ESTATE MARKET REPORT

Burlington witnessed a significant jump in median pricing last year. Even though inventory levels are extremely tight, Burlington remains a desirable market for homebuyers. That helped drive median pricing up 8.1% last year, although sales volume declined by 11.9% because of a lack of available inventory. View Burlington VT homes for sale here!

SHELBURNE VT REAL ESTATE MARKET REPORT

Shelburne, which boasts mid-level to high-end luxury properties, posted the biggest pricing gain last year among Chittenden County's towns. Median pricing rose 26.3% to $435,000, although that may represent a shift towards higher-priced inventory. View Shelburne VT homes for sale here!

LUXURY REAL ESTATE MARKET REPORT

This real estate report also provides insight on the Luxury Market.  Luxury buyers will find a wide range of high-end properties in Northwest Vermont this year, from lakefront properties located in Burlington to country estates with mountain views. Throughout 2014, ten $1 million-plus home sales were recorded. Eight of those homes included lakefront access, which has been a traditional draw of Northwest Vermont's luxury market. The highest priced property was a $1.41 million 2-acre property with a Craftsman-style home and 610 feet of shoreline, located in Ferrisburgh. Seven of this year's luxury sales were located in Chittenden County, while two were recorded in Addison County's Ferrisburgh. Grand Isle's South Hero had one luxury sale, with a waterfront home selling for $1.35 million.

SEARCH FOR VT PROPERTIES WITH LAKE ACCESS HERE!

The complete report is currently available online only at www.VermontMarketReport.com.

SEARCH USING AN INTERACTIVE MAP HERE!

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