| Single-Family January-June 2023 | ||||
|---|---|---|---|---|
| Median Sale Price: | Average Sale Price: | Units Sold: | Newly Listed: | Days on Market: |
| $1,350,000 3.9% | $1,510,999 -17.4% | 37 0% | 22 -56.9% | 54 -6.9% |
The luxury market could arguably be stated as the market segment most impacted by the pandemic. As virtual work allowed people to move almost anywhere, many affluent buyers with both resources and flexibility chose Vermont. The number of properties sold jumped substantially, values escalated, and sales absorbed the available inventory. Prior to the pandemic Luxury homes had, on average, a 2–3-year supply on hand. This quickly dropped and has remained low.
Demand has calmed, however not diminished and sales in 2023 are flat with last year. Buyers are still shopping, as agents report a solid number of showings for new listings. Many buyers have been willing to look outside of the traditional Burlington or lake front properties to meet their needs. This may reflect a new balance of purchasers buying as a second home and many choosing to make these purchases their primary residents.
| County | Top towns | Units Closed | Median Sale Price | Average Sale Price | Low | High |
|---|---|---|---|---|---|---|
| Addison | 3 | $2,600,000 | $2,616,666 | $1,800,000 | $3,450,000 | |
| Chittenden | 31 | $1,200,000 | $1,360,707 | $1,000,000 | $2,900,000 | |
| Burlington | 12 | $1,115,000 | $1,344,083 | $1,000,000 | $2,900,000 | |
| Charlotte | 2 | n/a | $1,800,000 | $1,015,000 | $1,525,000 | |
| Colchester | 2 | n/a | $1,270,000 | $1,500,000 | $2,100,000 | |
| Essex | 1 | $1,375,000 | $1,375,000 | $1,375,000 | $1,375,000 | |
| Richmond | 1 | $1,565,000 | $1 | $1,565,000 | $1,565,000 | |
| Shelburne | 8 | $1,178,500 | $1,208,188 | $1,040,000 | $1,497,500 | |
| South Burlington | 2 | n/a | $1,663,723 | $1,425,000 | $1,902,445 | |
| Underhill | 1 | $1,075,000 | $1,075,000 | $1,075,000 | $1,075,000 | |
| Williston | 2 | n/a | $1,452,500 | $1,145,000 | $1,760,000 | |
| Franklin | - | |||||
| Grand Isle | 3 | $1,725,000 | $1,958,333 | $1,350,000 | $2,800,000 | |
| Lamoille | 3 | $1,725,000 | $1,958,333 | $1,350,000 | $2,800,000 | |
| Washington | 3 | $1,725,000 | $1,958,333 | $1,350,000 | $2,800,000 |