| Luxury Homes | |||
|---|---|---|---|
| Median Sale Price: | Average Sale Price: | Units Sold: | Days on Market: |
| $1,053,000 (-2%) | $1,181,408 (-7.9%) | 35 (29.6%) | 108 (18.7%) |
Sales of luxury properties remain strong so far this year. In the 3rd quarter alone – the number of properties sold increased by 29% with the median sale price increasing 7%. Year to date, the median price has declined slightly.
Lakefront properties in Addison, Chittenden and Grand Isle Counties continue make up a good portion of the closed sales. However, the trend toward properties away from the lake, newer construction with amenities, views, and proximity to the greater Burlington area employers continues with sales of homes in South Burlington and Shelburne for example.
While inventory of luxury homes has declined slightly over the past few years, architecturally designed lakefront and hillside homes with stunning views are available for the discerning buyer.
