Vermont Real Estate Trends - A New Way to Look at Vermont Realty

Over the past year the Vermont real estate market has struggled to rebound from a fierce decline following the nationwide collapse of the housing market. In the recent months, Vermont real estate has seen a significant increase in the number of new listings on the market. In November there were just 83 new condos and 352 new single family homes on the market. Those numbers climbed throughout the winter months and in March there were 152 new condos and 777 new houses.

While the asking price for Vermont homes for sale have remained relatively steady over the past 6 months, the most recent data suggests that the influx of inventory has perhaps saturated the market and driven sale prices down. While the average sale price for a condo was almost $260,000 in September, it fell to the $180,000 mark by the end of December. House prices suffered an even worse fate and in January the average sale price was almost 30% below the average list price.

The state legislature appears divided on what role real estate will play in the economic recovery of the state. While one faction wants to increase property taxes in order to supplement with the state education budget, another faction has suggested a state-wide return of property taxes. What neither side has thus far addressed is how they could use this opportunity to inject renewed vigor into Vermont’s struggling real estate market.