Lamoille VT 2023 Q3 Market Report

Lamoille VT 2023 Q3 Market Report

Lamoille County Real Estate Report - Q3 2023

In the third quarter of 2023, Lamoille County's real estate market exhibited several significant trends. The overall landscape showed a decline in properties sold by 27.12% across all property types as compared to the same time last year. However, the average sold price and median sold price increased by 21.74% and 14.98%, respectively. New listings experienced a modest rise of 1.55%. The average and median list prices also surged by 19.29% and 22.11%, respectively. The duration properties spent on the market varied, with the average days increasing by 63.33% and the median days rising by 22.22%.

Morristown stood out with its real estate dynamics. New listings decreased slightly by 8%, settling at 23 properties. The number of properties sold saw a decline of 27%, amounting to 11. However, the median sold price in Morristown showed a positive trend, increasing by 4.96% to $402K. This suggests that while there might be fewer transactions, the value of properties in Morristown is appreciating, making it a potential hotspot for investors and homeowners looking for value appreciation.

Elmore had a 50% decrease in new listings, with only one property listed. Similarly, properties sold also decreased by 50% to just one. The median sold price for the single-family homes in Elmore increased by 25% to $620K, and properties took an average of 13 days to sell, which was a decrease of 58% from the previous year.

In Hyde Park, there was an 11% reduction in new listings, with a total of 8 properties. However, properties sold increased by 38% to 11. The median sold price more than doubled, marking a 125% increase to $427K. Properties in Hyde Park were sold faster, with the median days on the market decreasing by 59% to just 7 days.

Johnson witnessed a significant 225% increase in new listings, totaling 13. However, the number of properties sold decreased by 27% to 8. The median sold price slightly dipped by 2.18% to $293K. The time properties spent on the market before being sold increased considerably, with properties taking 118% longer, averaging 24 days.

Lastly, Cambridge maintained its pace with 15 new listings, showing no change from Q3 2022. The number of properties sold decreased by 40% to 12, but the median sold price jumped by 36% to $452K. The median days a property stayed on the market before being sold reduced by 45% to just 6 days.

In conclusion, Lamoille County's real estate market, while showing a decline in properties sold, indicates a potentially appreciating market in specific areas. The increase in sold prices across various towns suggests a robust and evolving market landscape. For those interested in more detailed data or insights into specific neighborhoods, it's recommended to consult with local real estate experts.

Click Here for Detailed Lamoille VT Market Stats


Work With Jeff

If you’re looking for the largest selection of real estate available in our area, you’ve come to the right place and we’re here to help you.

Follow Me On Instagram