If there is comfort in consistency, then rest easy about the real estate market. While other sectors of the U.S. economy have been erratic for the last few years, the real estate market has remained steady since 2015, and that is still the picture in northwestern Vermont.
Early 2018 Northwest Vermont Market Report
The year 2017 ended as it started. Inventory remained tight, which caused steadfast price growth. The median price increased for each property type (single family, condos, multi-family, and land) in our four-county region, and the median price of a single-family home jumped by 4.5% to $277,000 compared to the end of 2016. The median condo price was up by 3.4%. These increases were due to declining inventory, which caused multiple-offer situations in some towns and drove prices upward. (READ MORE)
Luxury Home Sales
Sales of Luxury homes increased substantially in northwestern Vermont in 2017 — up 28% with 46 units sold, compared to 2016. The story remains the same: Nationally, the luxury home market is being affected as consumers seek smaller homes with lighter tax burdens, but data still shows that Vermont has one of the more affordable luxury home markets in New England based on property value — which might be contributing to another strong showing for this market in northwestern Vermont. (READ MORE)