| County Averages | ||
|---|---|---|
| Median Sale Price: | Units Sold: | Days on Market: |
| $204,900 (+7%) | 461 (+22%) | 165 (-9%) |
The residential property market in Grand Isle County tends to split between high-end waterfront properties and mid-priced residential homes.
Our Realtors have noted a slow-down in demand through the summer and into early fall, which could be due to a number of factors.
Because Grand Isle is the smallest real estate market in Northwest Vermont, a handful of transactions may have a large impact on the county’s pricing and demand trends.
Inventory Levels
- The county has 20 months of available inventory, slightly more than a year earlier.
- More than 300 properties remained on the market in the third quarter, a slight increase from a year-earlier.
- Our Realtors noted that sales slowed in the summer and early fall, possibly because of the water issues.
Luxury Sales
- The county has recorded only one luxury sale this year, an $815,000 waterfront property with views of the islands and Green Mountains.
- Demand for higher-end properties may have been hurt by the water quality issues noted above.
Land Sales: A Bright Spot
- Seventeen land sales were recorded in the first 9 months of 2016, an increase of 89% from a year earlier. The median sales price rose 22% to $73,333. Some buyers are opting to purchase lots and construct custom-built homes, rather than searching for pre-existing inventory.
Lake Quality Concerns
- Some areas of the islands, such as Alburgh, have been on alert for blue-green algae, according to the Vermont Department of Health. Algae can develop quickly into large blooms, which can be harmful to pets.
- After a dry summer, the water level in Lake Champlain has dropped a foot below normal, which has land-locked some docks, according to the Burlington Free Press. The current water level is the lowest since 2001.
