South Burlington Market Statistics for Condominiums and Single Family Homes For March 2015
One of the hottest markets in Chittenden County, and one of the overall most active markets in the entire state of Vermont, is South Burlington. It's no surprise that locals and transplants alike flock to the City of South Burlington, located just a few miles to the South of Vermont's largest city, Burlington. South Burlington has some of the best school systems around (although I've told clients time and time again that you really can't go wrong with any of the school systems anywhere in Chittenden County), has great shopping opportunities (Hannafords, Lowes, Trader Joes, Healthy Living, University Mall to name a few), and a fanatastic location near Burlington, Williston, Essex, and easy acces to I-89. Nearly any home in South Burlington can be deemed "well located" when looking at accessibility to shopping, schools, and employers, but you can also find privacy in select areas or homes and condos with a more "urban" feel. Frankly, the City of South Burlington has it all. So, what does all of this mean for market data? Pricing, median sales, etc?
Let's explore the data for March, 2015 to give you a snapshop of what you can expect when you buy that next home or condo in this highly desirable location in Vermont:
There were 42 new condo and home listings and 22 sold listings for the month of March. More importantly, there were 40 "pending" listings which means they will close in the near future, likely 4-6 weeks. The average sales price for the month was $314,000, which was an 18% increase from the previous month. The average sales price the same period for 2014 was only $268,000, which means the market in South Burlington active and improving. The average days on the market was 82, which was a decrease of over 35% from the previous month. The average days on the market this time a year ago was 85 days.
Overall the market in Chittenden County, and specifically South Burlington, is healthy and showing improving property values as we exit the first quarter of 2015. This type of healthy market is precisely why Dousevicz Inc is going to be launching two new neighborhoods in South Burlington the later part of 2015, totalling a combined 159 housing units. If you would like information on buying your next home or condo in South Burlington, call Brad today at 802-238-9367 or email him at firstname.lastname@example.org. Here's to Spring!