| Luxury Homes | |||
|---|---|---|---|
| Median Sale Price: | Average Sale Price: | Units Sold: | Days on Market: |
| $1,004,000 (+1.9%) | $1,085,797 (-0.9%) | 17 (+30.8%) | 225 |
Buyer interest continues to improve in the Luxury* market across northwest Vermont.
17 properties closed during the first half of 2018 with 65% (or 11 homes) closing during the 2nd quarter. New listings are generating multiple showings and, in some cases, multiple offers. Lakefront properties have sold in all four counties – including Franklin County which has recorded 2 luxury sales in more than 3 years. Filling out the buyer demand are properties away from the lake with newer construction and amenities, privacy and views along with proximity to the greater Burlington area employers. The “days on market” – or the number of days from listing to closing – fluctuates wildly with a small data sampling. A number of the properties that sold during the 1st six months of the year were on the market for well below the 225 days in this report. With 106 properties available for purchase, buyers have many options when seeking a home in the range of $850,000 and higher.
* The Luxury market is defined as properties selling for $850,000 & above.
