| County Averages | ||
|---|---|---|
| Average Sale Price: | Units Sold: | Days on Market: |
| $1,260,000(+6.8%) | 34 | 238 |
The luxury market in Northwest Vermont provides plenty of options for buyers seeking properties in the range of $850,000 and higher.
The market for luxury properties has been slower to pick up than lower-priced homes, and as a result, sellers have grown more flexible in their expectations on prices and negotiations.
High-end buyers are typically seeking lakefront property or estates with significant views of the mountains or lake. Those properties that lack either a view or waterfront access may face more difficulties in attracting potential buyers.
Popular towns with luxury buyers include Shelburne and Charlotte, which offer waterfront estates as well as properties with excellent views and amenities. In 2016, 34 luxury homes sold in Northwest Vermont.
Waterfront properties
Half of the luxury sales in 2016 represented lakefront properties. The bulk of the waterfront sales were recorded in Chittenden County.
Time-to-market concerns
Some buyers are hesitant to commit to a purchase given the time required to market a luxury home. Professionals relocating to Northwest Vermont for a short period of time prefer to rent rather than buy. Buyers with long-term ties to the area make up much of the demand in this market segment.
Market Insights
- The average luxury sale price stands at $1.26 million
- The typical high-end home required 238 days to market
- Inventory levels remain deep, providing plenty of options for buyers
