The number of land parcels sold continues to decline from the height of this market segment in 2021. These results may not accurately reflect buyer interest as much as the lack of options for buyers seeking an ideal parcel to build their dream home. The days on the market (DOM) for sold parcels has declined to under 4 months demonstrating that buyers are ready to make a move when the right property hits the market. The median sold price increased sharply in Washington County and modestly in Chittenden County while Franklin County pricing readjusted after an 18% increase in 2023. With relatively small numbers of transactions, the median sale price can swing up or down, not necessarily demonstrating the appreciation or depreciation of land values.
| Single-Family January-June 2024 | |||
|---|---|---|---|
| Median Sale Price: | Units Sold: | Newly Listed: | Days on Market: |
| $150,000 +3.8% | 79 -14.1% | 153 -5.6% | 134 +3.1% |
| LAND | MEDIAN SALE PRICE | VS 2023 | UNITS SOLD | VS 2023 | NEWLY LISTED | VS 2023 | DAYS ON MARKET | VS 2023 |
|---|---|---|---|---|---|---|---|---|
| Chittenden County | $225,000 | 8.20% | $23 | -8.0% | 43 | 0.194 | 76 | -38.7% |
| Addison County | $127,500 | -13.90% | $24 | -20.0% | 33 | -0.353 | 150 | 21.0% |
| Franklin County | $89,900 | -28.70% | 19 | -34.5% | 55 | 0.058 | 99 | -17.5% |
| Grand Isle County | $86,000 | -8.30% | $13 | 62.5% | 22 | -0.044 | 255 | 20.9% |
| Lamoille County | $88,000 | -8.80% | $27 | 3.9% | 62 | 0.378 | 168 | 17.5% |
| Washington County | $199,000 | 53.10% | $33 | -35.3% | 55 | -0.179 | 101 | 16.1% |
