Northwest Vermont's Real Estate Market
How's the real estate market in Vermont? This report will give you a detailed market results for 2018, and what trends to look for in 2019 in Northwest Vermont's housing market.
Our early 2019 Market Report provides a recap of real estate sales throughout the four counties in northwest Vermont: Addison, Chittenden, Franklin and Grand Isle. In addition to residential real estate sales, we look at results and trends in luxury & multi family home sales – as well as land sales throughout the region.
Low inventory continues to be the story in the local and national housing market. Properties coming on the market for sale have been in short supply for a few years resulting in fewer closed sales while demand remains strong. Steadfast price growth for single and multi-family homes in northwest Vermont is good news for sellers – and has challenged some first-time home buyers who were caught in multiple offer scenarios in certain hot price points and locations. (READ MORE)
LUXURY MARKET RESULTS &TRENDS
Luxury Home sales in Northwest Vermont have continued to increase over previous years. While only two additional properties sold in 2018 (vs 2017), there has been an overall increase of 71% in units sold since 2015. The median sale price increased by 4.4% with the average sale price declining for the second year in a row.
Nationally, the luxury market has slowed a bit but Vermont remains one of the most affordable luxury home markets in New England – which may be bolstering sales here. Local lenders report that Jumbo loans remain remarkably competitive offering favorable options for the cash buyer. (READ MORE)
CLICK HERE to read more about the current real estate market in Vermont!