Published February 1, 2025
January 2025 Vermont Market Update
January 2025 Vermont Real Estate Market Update
More Homes on the Market, But Prices Adjusting
Active listings rose 13.78% from January of last year, and almost 40% from the month of December, giving buyers more options to choose from. However, pending sales dipped slightly from last January, down by 8.16%, but increased by just under 27% from December, making for a strong start to the year and indicating there are many people who added buying a new home to their list of New Year's resolutions! Closings dipped by almost 30% from December, as expected given the holidays and lower under contract numbers we'd been seeing, though we saw a slight uptick year over year with 187 properties closed, a 2.75% increase from the January prior. While month over month, the average sale price remained relatively unchanged, year over year, it fell by 3.38% down to $520,306. The median sale price has held steady at $450,000 for January 2024 and January 2025, which suggests that while some higher-end homes may be adjusting, the core market remains strong.Homes are Taking Longer to Sell
The average days on market (DOM) increased to 44 days, a 7.32% rise from last January and a 12.82% increase from the month of December, while the median DOM jumped to 25 days, a 78.57% increase year over year and a 19% increase from the 21 days we saw in December. This means homes across all price points and categories are generally taking a bit longer to sell, allowing buyers to have a little bit more time when making decisions.
Luxury Market Update
The Vermont luxury real estate market saw 11 sales over $1M in January, down from 13 last January. The highest sale was $2.8M, compared to $3.5M in January 2024. The numbers are down from December as well, where we saw 17 homes close over $1M with the highest priced sale selling for $4M.
What This Means for Buyers & Sellers
Sellers: Pricing your home right from the start is key. Well-priced properties are still selling, but buyers are taking more time to decide and now have more options to choose from. Buyers: More inventory and slightly longer market times could mean better opportunities, but well-priced homes still move relatively quickly. If you're considering buying a home in Vermont, now is a great time to explore before the spring market kicks into high gear and competition rises. As always, whether you're thinking about buying or selling, we’re here to help you navigate the market. Reach out anytime with questions!Curious about how much your home is worth in the current market? Find out using our free home value tool.
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