Vermont, the most affordable market in our New England luxury region, prices have fallen since its 2021 high. Coming from a $8M average in 2021, it has sunk to $6M in 2022 and averaged $5.5 and $5.9M in the past two years. Though in those years, the market has sped up, averaging 199 and 146 Days On Market (DOM) in 2023 and 2024 respectively. This is twice as fast as the rest of the US market on average.
Highlights
Average sales price stabilized at $6M in 2024, well below 2021's $8M peak
Market velocity is exceptional at 146 DOM in 2024, twice as fast as US average
Unusual trends
Vermont sellers are more realistic about the market prices than the rest of the US luxury markets. With sales to list price ratios above 90% for most properties, it's a relatively stable market.
A clear trend we see in most markets is apparent in Vermont over the last 2 years. The properties that sell slower than 180 DOM receive a much lower percentage of their list price than the faster selling properties. In 2024, the difference between the fast selling and slow selling properties was 18% of list price; this was 7% in 2023.
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