Annual Market Report Champlain Valley Vermont Full Year 2022
Market Overview At A Glance
CHAMPLAIN VALLEY
The Champlain Valley region housing market, defined by Chittenden, Franklin and Grand Isle counties, began to normalize in 2022 after nearly two red-hot years.
Limited inventory remained a major driving factor, and the total number of units sold was down by 17% across the Champlain Valley region. However, the average sales price increased by 12%, and the average days on market decreased by 29%. Additionally properties sold above list price by +2.1%.
The hottest markets in the Champlain Valley continued to be in and around Chittenden County. These higher population centers saw no reprieve from inventory scarcity and, as a result, continued to drive up prices. Franklin and Grand Isle counties showed similar trends, but at a lower volume level. There is a full breakdown by county and town in this report for more details at a local market level.
Moving into 2023, the majority of headlines on a national level are predicting a downturn in the housing market. However, we have not seen that swift downturn of activity in the Champlain Valley region. Yes, the market has begun to normalize, but we anticipate that buyer demand will continue to be strong, driven by limited inventory and that pricing will continue to stabilize. Pricing appropriately for Sellers will become of the utmost importance in order to sell in a timely manner.
Now more than ever, you need an experienced real estate professional to guide you through this ever- changing market.
Champlain Valley Overview
All Properties | All Price Points
Source: Trendgraphix Data - (1/1/2022 - 12/31/2022) vs. Previous Year To Date (1/1/2021 - 12/31/2021)All Property Types - All Price Points - Chittenden, Franklin & Grand Isle Counties - VT Champlain Valley 2022 2021 +/ - % TOTAL SALES IN UNITS: 5,804 6,976 - 16.8% TOTAL SALES DOLLARS: $2,640,575,000 $2,825,456,000 - 6.5% AVERAGE SALE PRICE: $454,941 $405,025 + 12.3% AVERAGE DAYS ON MARKET: 30 42 - 28.6% SOLD PRICE VS. LIST PRICE: 103.36% 101.23% + 2.1%
Key Market Highlights
OVERVIEW
OVERVIEW
OVERVIEW
CHITTENDEN COUNTY
BY TOWN FRANKLIN COUNTY
BY TOWN GRAND ISLE COUNTY
BY TOWN
Chittenden County Overview
All Properties | All Price Points
Source: Trendgraphix Data - (1/1/2022 - 12/31/2022) vs. Previous Year To Date (1/1/2021 - 12/31/2021)All Property Types - All Price Points - Chittenden County - VT Champlain Valley 2022 2021 +/ - % TOTAL SALES IN UNITS: 4,074 4,780 - 14.8% TOTAL SALES DOLLARS: $2,059,203,000 $2,174,756,000 - 5.3% AVERAGE SALE PRICE: $505,450 $454,970 + 11.1% AVERAGE DAYS ON MARKET: 23 31 - 25.8% SOLD PRICE VS. LIST PRICE: 103.87% 101.70% + 2.1%
Chittenden County by Town
All Properties | All Price Points
BOLTON 2022 2021 +/- % TOTAL SALES IN UNITS: 18 19 - 5.3% AVERAGE SALE PRICE: $336,389 $237,111 + 41.9% AVERAGE DAYS ON MARKET: 21.0 10.0 + 110.0% SOLD PRICE VS. LIST PRICE: 101.73% 103.71% - 1.9% BURLINGTON 2022 2021 +/- % TOTAL SALES IN UNITS: 411 438 - 6.2% AVERAGE SALE PRICE: $550,332 $535,855 2.7% AVERAGE DAYS ON MARKET: 20.0 28.0 - 28.6% SOLD PRICE VS. LIST PRICE: 102.23% 100.74% + 1.5% CHARLOTTE 2022 2021 +/- % TOTAL SALES IN UNITS: 52 56 - 7.1% AVERAGE SALE PRICE: $843,054 $740,894 + 13.8% AVERAGE DAYS ON MARKET: 49.0 92.0 - 46.7% SOLD PRICE VS. LIST PRICE: 100.70% 100.66% 0.0% COLCHESTER 2022 2021 +/- % TOTAL SALES IN UNITS: 215 268 - 19.8% AVERAGE SALE PRICE: $432,206 $453,639 - 4.7% AVERAGE DAYS ON MARKET: 27.0 50.0 - 46.0% SOLD PRICE VS. LIST PRICE: 105.30% 100.37% + 4.9% ESSEX 2022 2021 +/- % TOTAL SALES IN UNITS: 284 358 - 20.7% AVERAGE SALE PRICE: $449,115 $360,500 + 24.6% AVERAGE DAYS ON MARKET: 15.0 18.0 - 16.7% SOLD PRICE VS. LIST PRICE: 106.03% 103.29% + 2.7%
HUNTINGTON 2022 2021 +/- % TOTAL SALES IN UNITS: 25 23 + 8.7% AVERAGE SALE PRICE: $357,250 $358,652 - 0.4% AVERAGE DAYS ON MARKET: 45.0 41.0 + 9.8% SOLD PRICE VS. LIST PRICE: 104.75% 98.30% + 6.6% HINESBURG 2022 2021 +/- % TOTAL SALES IN UNITS: 61 79 - 22.8% AVERAGE SALE PRICE: $446,237 $369,685 + 20.7% AVERAGE DAYS ON MARKET: 19.0 61.0 - 68.9% SOLD PRICE VS. LIST PRICE: 102.97% 100.13% + 2.8% JERICHO 2022 2021 +/- % TOTAL SALES IN UNITS: 41 70 - 41.4% AVERAGE SALE PRICE: $527,717 $500,737 + 5.4% AVERAGE DAYS ON MARKET: 30.0 24.0 + 25.0% SOLD PRICE VS. LIST PRICE: 106.83% 101.40% + 5.4% MILTON 2022 2021 +/- % TOTAL SALES IN UNITS: 106 163 - 35.0% AVERAGE SALE PRICE: $389,361 $345,434 + 12.7% AVERAGE DAYS ON MARKET: 30.0 27.0 + 11.1% SOLD PRICE VS. LIST PRICE: 103.47% 102.67% + 0.8% RICHMOND 2022 2021 +/- % TOTAL SALES IN UNITS: 32 41 - 22.0% AVERAGE SALE PRICE: $474,656 $445,082 + 6.6% AVERAGE DAYS ON MARKET: 8.0 37.0 - 78.4% SOLD PRICE VS. LIST PRICE: 104.67% 103.68% + 1.0% SHELBURNE 2022 2021 +/- % TOTAL SALES IN UNITS: 122 142 - 14.1% AVERAGE SALE PRICE: $842,471 $639,627 + 31.7% AVERAGE DAYS ON MARKET: 31.0 34.0 - 8.8% SOLD PRICE VS. LIST PRICE: 101.83% 98.78% + 3.1%
ST GEORGE 2022 2021 +/- % TOTAL SALES IN UNITS: 16 17 - 5.9% AVERAGE SALE PRICE: $155,813 $399,269 - 61.0% AVERAGE DAYS ON MARKET: 35.0 11.0 + 218.2% SOLD PRICE VS. LIST PRICE: 99.92% 103.37% - 3.3% SOUTH BURLINGTON 2022 2021 +/- % TOTAL SALES IN UNITS: 348 389 - 10.5% AVERAGE SALE PRICE: $477,243 $448,471 + 6.4% AVERAGE DAYS ON MARKET: 24.0 29.0 - 17.2% SOLD PRICE VS. LIST PRICE: 105.88% 103.99% + 1.8% UNDERHILL 2022 2021 +/- % TOTAL SALES IN UNITS: 31 33 - 6.1% AVERAGE SALE PRICE: $470,662 $409,241 + 15.0% AVERAGE DAYS ON MARKET: 34.0 43.0 - 20.9% SOLD PRICE VS. LIST PRICE: 104.79% 101.19% + 3.6% WESTFORD 2022 2021 +/- % TOTAL SALES IN UNITS: 17 33 - 48.5% AVERAGE SALE PRICE: $466,816 $408,207 + 14.4% AVERAGE DAYS ON MARKET: 27.0 44.0 - 38.6% SOLD PRICE VS. LIST PRICE: 104.78% 100.55% + 4.2% WILLISTON 2022 2021 +/- % TOTAL SALES IN UNITS: 169 158 + 7.0% AVERAGE SALE PRICE: $529,935 $452,154 + 17.2% AVERAGE DAYS ON MARKET: 16.0 21.0 - 23.8% SOLD PRICE VS. LIST PRICE: 103.58% 102.99% + 0.6% WINOOSKI 2022 2021 +/- % TOTAL SALES IN UNITS: 72 106 - 32.1% AVERAGE SALE PRICE: $395,194 $379,705 + 4.1% AVERAGE DAYS ON MARKET: 18.0 18.0 0.0% SOLD PRICE VS. LIST PRICE: 104.12% 102.24% + 1.8%
Franklin County Overview
All Properties | All Price Points
Source: Trendgraphix Data - (1/1/2022 - 12/31/2022) vs. Previous Year To Date (1/1/2021 - 12/31/2021)All Property Types - All Price Points - Franklin County - VT Franklin County 2022 2021 +/ - % TOTAL SALES IN UNITS: 1,378 1,746 - 21.1% TOTAL SALES DOLLARS: $435,928,000 $486,444,000 - 10.4% AVERAGE SALE PRICE: $316,348 $278,605 + 13.5% AVERAGE DAYS ON MARKET: 42 60 - 30.0% SOLD PRICE VS. LIST PRICE: 101.64% 100.33% + 1.3%
Franklin County by Town
All Properties | All Price Points
BAKERSFIELD 2022 2021 +/- % TOTAL SALES IN UNITS: 16 22 - 27.3% AVERAGE SALE PRICE: $265,500 $314,325 - 15.5% AVERAGE DAYS ON MARKET: 49.0 70.0 - 30.0% SOLD PRICE VS. LIST PRICE: 100.54% 99.97% + 0.6% BERKSHIRE 2022 2021 +/- % TOTAL SALES IN UNITS: 18 23 -21.7% AVERAGE SALE PRICE: $283,861 $194,752 45.8% AVERAGE DAYS ON MARKET: 39.0 111.0 -64.9% SOLD PRICE VS. LIST PRICE: 102.85% 98.21% 4.7% ENOSBURG 2022 2021 +/- % TOTAL SALES IN UNITS: 39 41 - 4.9% AVERAGE SALE PRICE: $233,852 $192,083 + 21.7% AVERAGE DAYS ON MARKET: 40.0 80.0 - 50.0% SOLD PRICE VS. LIST PRICE: 100.70% 97.88% + 2.9% FAIRFAX 2022 2021 +/- % TOTAL SALES IN UNITS: 78 103 - 24.3% AVERAGE SALE PRICE: $368,507 $353,764 + 4.2% AVERAGE DAYS ON MARKET: 31.0 42.0 - 26.2% SOLD PRICE VS. LIST PRICE: 102.82% 101.18% + 1.6% FAIRFIELD 2022 2021 +/- % TOTAL SALES IN UNITS: 10 21 - 52.4% AVERAGE SALE PRICE: $293,080 $249,669 + 17.4% AVERAGE DAYS ON MARKET: 26.0 34.0 - 23.5% SOLD PRICE VS. LIST PRICE: 105.77% 98.85% + 7.0%
FRANKLIN 2022 2021 +/- % TOTAL SALES IN UNITS: 18 39 - 53.8% AVERAGE SALE PRICE: $319,756 $190,362 + 68.0% AVERAGE DAYS ON MARKET: 44.0 128.0 - 65.6% SOLD PRICE VS. LIST PRICE: 96.96% 97.49% - 0.5% FLETCHER 2022 2021 +/- % TOTAL SALES IN UNITS: 13 25 - 48.0% AVERAGE SALE PRICE: $318,300 $319,240 - 0.3% AVERAGE DAYS ON MARKET: 74.0 44.0 + 68.2% SOLD PRICE VS. LIST PRICE: 99.54% 99.29% + 0.3% GEORGIA 2022 2021 +/- % TOTAL SALES IN UNITS: 68 81 - 16.0% AVERAGE SALE PRICE: $394,147 $354,423 + 11.2% AVERAGE DAYS ON MARKET: 22.0 30.0 - 26.7% SOLD PRICE VS. LIST PRICE: 104.15% 101.84% + 2.3% HIGHGATE 2022 2021 +/- % TOTAL SALES IN UNITS: 49 36 + 36.1% AVERAGE SALE PRICE: $250,680 $242,364 + 3.4% AVERAGE DAYS ON MARKET: 49.0 24.0 + 104.2% SOLD PRICE VS. LIST PRICE: 101.60% 101.27% + 0.3% MONTGOMERY 2022 2021 +/- % TOTAL SALES IN UNITS: 31 41 - 24.4% AVERAGE SALE PRICE: $290,471 $214,567 + 35.4% AVERAGE DAYS ON MARKET: 92.0 138.0 - 33.3% SOLD PRICE VS. LIST PRICE: 97.60% 96.05% + 1.6% RICHFORD 2022 2021 +/- % TOTAL SALES IN UNITS: 28 41 - 31.7% AVERAGE SALE PRICE: $206,826 $152,259 + 35.8% AVERAGE DAYS ON MARKET: 71.0 116.0 - 38.8% SOLD PRICE VS. LIST PRICE: 99.25% 97.88% + 1.4%
ST ALBANS CITY 2022 2021 +/- % TOTAL SALES IN UNITS: 86 126 - 31.7% AVERAGE SALE PRICE: $298,838 $273,148 + 9.4% AVERAGE DAYS ON MARKET: 40.0 29.0 + 37.9% SOLD PRICE VS. LIST PRICE: 101.23% 100.92% + 0.3% SHELDON 2022 2021 +/- % TOTAL SALES IN UNITS: 18 29 - 37.9% AVERAGE SALE PRICE: $319,343 $301,297 + 6.0% AVERAGE DAYS ON MARKET: 33.0 56.0 - 41.1% SOLD PRICE VS. LIST PRICE: 100.16% 99.72% + 0.4% ST ALBANS TOWN 2022 2021 +/- % TOTAL SALES IN UNITS: 114 128 - 10.9% AVERAGE SALE PRICE: $366,673 $307,728 + 19.2% AVERAGE DAYS ON MARKET: 38.0 57.0 - 33.3% SOLD PRICE VS. LIST PRICE: 101.78% 101.12% + 0.7% SWANTON 2022 2021 +/- % TOTAL SALES IN UNITS: 103 117 - 12.0% AVERAGE SALE PRICE: $298,916 $272,222 +9.8% AVERAGE DAYS ON MARKET: 45.0 62.0 - 27.4% SOLD PRICE VS. LIST PRICE: 101.66% 100.28% +1.4%
Grand Isle County Overview
All Properties | All Price Points
Source: Trendgraphix Data - (1/1/2022 - 12/31/2022) vs. Previous Year To Date (1/1/2021 - 12/31/2021)All Property Types - All Price Points - Grand Isle County - VT Grand Isle County 2022 2021 +/ - % TOTAL SALES IN UNITS: 352 450 - 21.8% TOTAL SALES DOLLARS: $145,344,000 $164,255,000 - 11.5% AVERAGE SALE PRICE: $412,908 $365,012 + 13.1% AVERAGE DAYS ON MARKET: 59 89 - 33.7% SOLD PRICE VS. LIST PRICE: 101.43% 97.82% + 3.7%
Grand Isle County by Town
All Properties | All Price Points
ALBURG 2022 2021 +/- % TOTAL SALES IN UNITS: 59 64 - 7.8% AVERAGE SALE PRICE: $268,493 $328,284 - 18.2% AVERAGE DAYS ON MARKET: 91.0 95.0 - 4.2% SOLD PRICE VS. LIST PRICE: 97.08% 96.04% + 1.1% GRAND ISLE 2022 2021 +/- % TOTAL SALES IN UNITS: 43 58 - 25.9% AVERAGE SALE PRICE: $449,444 $357,110 + 25.9% AVERAGE DAYS ON MARKET: 39.0 78.0 - 50.0% SOLD PRICE VS. LIST PRICE: 100.95% 98.85% + 2.1% ISLE LA MOTTE 2022 2021 +/- % TOTAL SALES IN UNITS: 17 20 - 15.0% AVERAGE SALE PRICE: $312,053 $231,520 + 34.8% AVERAGE DAYS ON MARKET: 95.0 101.0 - 5.9% SOLD PRICE VS. LIST PRICE: 98.97% 98.83% + 0.1% NORTH HERO 2022 2021 +/- % TOTAL SALES IN UNITS: 35 52 - 32.7% AVERAGE SALE PRICE: $407,425 $408,321 - 0.2% AVERAGE DAYS ON MARKET: 35.0 116.0 - 69.8% SOLD PRICE VS. LIST PRICE: 102.03% 97.87% + 4.3% SOUTH HERO 2022 2021 +/- % TOTAL SALES IN UNITS: 22 31 - 29.0% AVERAGE SALE PRICE: $815,450 $469,097 + 73.8% AVERAGE DAYS ON MARKET: 24.0 45.0 - 46.7% SOLD PRICE VS. LIST PRICE: 106.49% 98.60% + 8.0%
Vermont
Vermont New York
Champlain Valley
Hudson Valley
South Burlington: 802.864.0541
Kingston: 845.331.3100
Rhinebeck: 845.876.5100
Central Vermont
Tivoli: 845.757.5000
Rutland: 802.774.7007
Catskill: 518.943.7533
Killington: 802.746.4203
Hudson: 518.822.0800
Stowe: 802.253.7267
Upstate New York
Northeast Kingdom
Saratoga Springs: 518.580.8500
St. Johnsbury: 802.751.7582
Bolton Landing: 518.644.9500
Lake Placid: 518.523.2550
Southern Vermont
Central New York
Mount Snow: 802.464.1200
Stratton: 802.297.1100
Syracuse: 315.685.8100
Manchester: 802.362.4551
Thousand Islands Region: 315.685.8100
Okemo: 802.228.4537
Finger Lakes Region: 315.685.8100
Upper Valley
Western New York
Fairlee: 802.333.4701
Buffalo: 716.320.1414
Rochester: 585.394.7111
New Hampshire
Lake Sunapee Region
New London: 603.526.4050
Lakes Region of New Hampshire
Meredith: 603.677.7012
Southern New Hampshire Bedford: 603.413.7600
Peterborough: 603.924.3321
Upper Valley
Hanover: 603.643.6070
New York
Hudson Valley
Kingston: 845.331.3100
Champlain Valley South Burlington: 802.864.0541
Rhinebeck: 845.876.5100
Central Vermont
Tivoli: 845.757.5000
Rutland: 802.774.7007
Catskill: 518.943.7533
Killington: 802.746.4203
Hudson: 518.822.0800
Stowe: 802.253.7267
Upstate New York
Northeast Kingdom St. Johnsbury: 802.751.7582
Saratoga Springs: 518.580.8500
Bolton Landing: 518.644.9500
Lake Placid: 518.523.2550
Southern Vermont
Central New York
Mount Snow: 802.464.1200
Stratton: 802.297.1100
Syracuse: 315.685.8100
Thousand Islands Region: 315.685.8100
Manchester: 802.362.4551
Finger Lakes Region: 315.685.8100
Okemo: 802.228.4537
Upper Valley Fairlee: 802.333.4701
Western New York
Buffalo: 716.320.1414
Rochester: 585.394.7111
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