Chittenden County/Burlington VT Area 2009 Statistics – Residential Real Estate
Taking a look back at the residential real estate market in the Burlington VT Area (including Burlington, South Burlington, Williston, Essex, Essex Jct., Hinesburg, St. George, Underhill, Jericho, Westford, Milton, Colchester, Winooski, Charlotte, Shelburne, Richmond, Bolton, and Huntington) for 2009 a total of 872 single family homes, 513 condos and 63 multi-families sold in Chittenden County according to the North Western Vermont Board of Realtor’s MLS Statistics. According to the same statistics the average sale price of a single family home in Chittenden County, Vermont was $302,446, for a condo the average price was $212,653, and for multi-families the average price was $277,666, for 2009. When we compare these 2009 Burlington VT Area numbers and statistics to those in 2008 the number of single family home sales is actually up by a hundred and three homes from 769 in 2008 or 11.8%, however, the average price per unit sold is down $17,103 or 5.3% from the $319,549 average in 2008. And as for the Burlington area condo market the number of sales is only down by 5 units when compared to 2008 statistics and the average price per unit sold is down $9,054 or 4.5% from the $221,707 average in 2008. As for multi-families, the number of sales were down by 15 units and the average price per multi-family unit was down $24,541 or 8.1% from 2008.
Looking at these numbers, Chittenden County residential real estate as a whole has really stayed pretty steady. The correction was minor when comparing percentages in price per units sold with 2008 stats. The Burlington area market has seen a drop in prices per unit but total number of single family homes, condos, and multi-family sales in 2009, when viewed from a combined perspective, is actually above the number of units sold in 2008 by 83 units! Any thoughts?
