According to a semi-annual report from Coldwell Banker Hickok & Boardman, Chittenden County saw a jump in condo and single-family home sales in the first six months of 2024, with 658 closed sales, marking the first time in more than five years that the number of sales has not declined.
The median sales price of a single-family home in Chittenden County was $575,000 in the first half of the year, up 4.9% from 2023. The median sales price in 2021 was $415,000, up 38.5% over the three years between 2021 and 2024.
The median sales price of a condo in Chittenden County was $355,750 in the first half of the year, down 1.2% from 2023. Still, condos were a “bright spot” in the number of sales, which increased by nearly 9%, with the number of available condos increasing by 30%, according to the report. South Burlington, Essex, Colchester and Burlington lead the market in availability.
Hinesburg and Milton are the hotspots for selling single-family homes and condos respectively.
Looking at individual cities and towns in Chittenden County, Hinesburg stands out as a hotspot, with a median single-family home price of $726,000, up 26.8% from 2023. The number of homes sold in Hinesburg in the first half of 2024 was 18, 350% more than in 2023.
Underhill also saw a very strong increase in the median single-family home price in the first half of 2024, up 43.5% from 2023 to $775,000. 12 homes were sold in Underhill in the first half of the year, up 33.3% from 2023.
At the other end of the spectrum, the median price of a single-family home in Shelburne fell 22% to $690,000 in the first half of 2024 compared to 2023. In the first six months of the year, 17 homes were sold in Shelburne, down 19.1% from 2023.
For condos, Milton saw a 103.7% increase in median price to nearly $489,000 in the first half of 2024 compared to 2023. Despite this jump in prices, the number of condos sold in Milton increased 180% in 2024 compared to 2023, with 14 units sold.
Contact Dan D’Ambrosio at 660-1841 or [email protected]. Follow him on Twitter @DanDambrosioVT.
