Coldwell Banker Hickok & Boardman Realty’s Early 2013 Vermont Real Estate Market Report for Northwest Vermont provides detailed real estate market information on Chittenden, Franklin, Grand Isle and Addison counties. There is also town-specific information on Burlington, South Burlington, Milton, Colchester & Winooski as well as market information specific to the following School Districts: Chittenden South, Chittenden Central & Chittenden East.
Burlington residential sales were up an impressive 42% and Burlington condo sales gained 35% over the same period from last year as new hires for growing business such as Dealer.com, Seventh Generation and Green Mountain Coffee Roasters entered the market. Institutions like the University of Vermont and Fletcher Allen Health Care also continue to bring in new Buyers eager to see new property inventory. Both single family homes & condos showed modest gains in their median sale price.
South Burlington saw a modest 5.3% increase in residential sales although the median sales price dipped slightly. While the median sales price for condos rose by 8.9%, single-family homes median sale prices fell by 14.5% making the overall median residential sales price in South Burlington lower than the same period last year.
LUXURY & MULTI-FAMILY REAL ESTATE: 2012 versus 2011
This real estate report also provides insight on the Luxury Market and the Multi-Family market. Luxury homes sales in 2012 represented a 70% boost in transactions from 2011. All but two of the 17 total sales were recorded in Chittenden County with Shelburne and Charlotte accounting for the bulk of those sales. Two thirds of the total sales were waterfront properties. The overall median luxury sale price in 2012 was $1.35 million.
In the multi-family market, rental vacancy rates continue to sit well below the national average (1.7% in Chittenden County VT compared to 4.5% nationally as of December 2012) creating a high demand for available rental units & pushing sales of multi-family properties in the market. Sales for duplexes and other multi-family homes jumped 16% across Chittenden, Franklin and Grand Isle counties. In Chittenden county alone, sales rose an astounding 43% in 2012.
The complete report is currently available online only at www.VermontMarketReport.com.
If you have any questions about this report or want to talk about a specific property or locale, please contact me today!