| Land January-December 2023 | ||||
|---|---|---|---|---|
| Median Sale Price: | Average Sale Price: | Units Sold: | Newly Listed: | Days on Market: |
| $139,000 +0.4% | $210,078 -0.2% | 185 -20.9% | 301 -6.8% | 118 -23.4% |
The number of land parcels sold in 2023 declined sharply over the prior year on top of the 27% decline in 2022. This period of decline follows amplified sales realized in 2021. However, 2023 results do not accurately reflect buyer interest as much as the same shortage in available inventory we are seeing in other segments of the real estate market. The number of days on the market for land is just over 4 months, down from 5 months in 2022 and 8 months in 2021 demonstrating that buyers were ready to make a move when the right property hit the market.
Franklin County’s median sale price jumped over 18% yet remains more affordable than other northwest Vermont counties. Washington & Addison Counties posted the most sales in the region with 99 and 60 lots closed respectively.
| MEDIAN SALE PRICE | VS 2022 | UNITS SOLD | VS 2022 | NEWLY LISTED | VS 2022 | DAYS ON MARKET | VS 2022 | |
|---|---|---|---|---|---|---|---|---|
| Chittenden County | $210,000 | 8.0% | 45 | -33.80% | 62 | -45.60% | 114 | -17.40% |
| Addison County | $133,500 | 6.0% | 60 | -24.10% | 83 | 5.10% | 124 | -30.30% |
| Franklin County | $93,500 | 18.4% | 54 | -1.80% | 108 | 12.50% | 90 | -35.30% |
| Grand Isle County | $93,750 | -1.7% | 26 | -18.80% | 48 | 41.20% | 169 | 12.70% |
| Lamoille County | $120,000 | -18.6% | 54 | -40.00% | 95 | -28.00% | 144 | -10.00% |
| Washington County | $135,000 | 10.7% | 99 | -13.90% | 124 | -15.70% | 109 | -5.20% |