As summer winds down, the Northwest Vermont real estate market appears to have hit a seasonal pause. Across Grand Isle, Chittenden, and Franklin counties, August brought a lull in activity, with closed sales essentially flat from July and new listings down 17.2%. With fall approaching, the market may see renewed activity as buyers and sellers consider their plans before winter.

The median sales price was $512,000, down 2.5% from July and 2.9% year over year. Home sellers are still receiving close to asking price, with a median of 98.9% of list price, while homes took a median of 18 days to sell, up from 16 days in July. For people thinking of selling their home this year, pricing and preparation remain important as homebuyers have somewhat more time to evaluate their options.

For buyers, active inventory in Northwest Vermont remains significantly higher than a year ago, with 733 properties on the market, up 38% year over year. While fewer new listings came on the market in August, the overall inventory level gives buyers more choices than they had at this time last year. Interest rates also remain an important consideration when planning a purchase and evaluating monthly costs.

At Coldwell Banker Islands Realty, we’re watching the fall market closely, particularly for lakefront properties where timing can be an important part of a purchase or sale before winter. Thinking about buying or selling in Northwest Vermont? Contact our local team to learn what the latest market data means for your specific property or real estate plans.