October 2025 Vermont Market Update: Prices Hold Strong, But Buyer Activity Cools

As we closed out October, Vermont’s real estate market offered a telling snapshot of its current trajectory: prices remain high, luxury sales rebounded, and overall sales volume jumped—but new buyer activity softened and homes took longer to sell. While year-over-year comparisons show strength, month-over-month trends reveal a market that’s becoming more price-sensitive and measured.

Let’s dive into what the numbers are really telling us—and what it could mean for the months ahead:

New Buyer Activity Slowed From September

While total under-contract properties were still up 26.3% year-over-year, they actually declined 8.1% from September, indicating a slight seasonal cool-down and potential buyer hesitation heading into the colder months.

• Pending + Active Under Contract (AUC):

  ↘︎ Down 8.1% from September

  ↗︎ Up 1.9% vs. October 2024

→ What this tells us: While buyers are still out there, the number that are looking and writing offers has definitely decreased steadily over the last few months. This is somewhat typical seasonally, but it does feel a bit more pronounced this year, with higher interest rates and economic factors at play as well.

Closed Sales Spiked—But That’s Lagging Data

October saw a 31.4% jump in closed sales over September, and a 29.6% increase year-over-year. These closings likely reflect deals that went under contract in August or September, when buyer activity was stronger.

→ Takeaway: Closings are a trailing indicator. This surge shows buyers were still active late summer into early fall, but doesn’t reflect the current pace of offers being made.

New Listings Dipped, But Is Still Higher Than Last Year

• Total New Listings:

  ↘︎ Down 8.2% from September

  ↗︎ Up 14% from October 2024

→ What it means: As we head toward winter, we often see a decline in the number of homes being listed for sale. Last year, the market oddly surged through the fall months, but this year it looks like we're falling back into more of a typical seasonal pattern.

Homes Are Taking Longer to Sell

• Average DOM: 40 days ↗︎ (↑ 29% YoY)

• Median DOM: 15 days ↗︎ (↑ 36% YoY)

→ Month-over-month DOM stayed flat, which suggests this trend is sticking. Buyers are taking more time to evaluate homes, negotiate, and move at their own pace—especially if a home is overpriced or needs updates.

Prices Are Holding Strong—but List-to-Sale Ratios Show Flexibility

• Average Sale Price: $577,785

  ↗︎ Up 2.6% from September

  ↗︎ Up 9.3% from October 2024

• Median Sale Price: $485,000

  ↗︎ Up 2.3% from September

  ↗︎ Up 7.8% YoY

→ Despite slower contract activity, prices actually climbed month-over-month, largely due to strength in the luxury market (more on that below). But…

• List-to-Sale Ratios dipped again:

  • Avg: 98.33%

  • Median: 99.00%

    (Both down slightly from September and last October)

→ Translation: Sellers are still achieving strong numbers, but fewer homes are selling above asking, and buyers are more comfortable negotiating—particularly if the home has sat for a while.

High-End Market Continues to Stay Strong

• Homes Sold Over $1M: 26

  ↗︎ Doubled from last October (13)

  ↗︎ Up from 22 in September

• Highest Sale: $7.9M (sold at full list)

→ Luxury volume helped drive up the overall average sale price this month. But it’s worth noting: this sector is volatile, and one big month doesn’t guarantee continued strength in Q4.

Price Reductions, BOMs, and Expireds Still High

• 323 price changes (↗︎ slightly from Sept)

• 52 homes came back on market (↘︎ down from 60 in Sept)

• 92 expired or terminated listings (↗︎ highest monthly total this year)

→ What this means: More sellers are testing high list prices, but the market isn’t tolerating it.
Expired listings are especially telling: many sellers are likely choosing to wait until spring or removing listings after failing to attract offers. BOMs are easing slightly, which may suggest better contract stability.

So, What Does All This Mean?

While a slower pace can seem like a negative, it’s actually bringing welcome balance back to the market—giving buyers more time and leverage, and helping sellers who are truly prepared stand out. This kind of market favors strategy over speed, and creates real opportunities for buyers and sellers who know how to navigate it.

• If you’re selling: Understand that the buyers still out there are serious, but they are looking for value. They also have a lot of choices right now, and aren't going to jump at the first home they see. You need to price smart from the start, especially as winter approaches and fewer buyers are shopping. Presentation and pricing will make or break your sale.

• If you’re buying: This is one of the best times of year to shop. There’s less competition, more room to negotiate, and sellers who are eager to close before the end of the year!

Thinking About a Move Before the Holidays?

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**The market data used in this update is from single-family homes and condos in Chittenden, Franklin, Lamoille and Washington counties.