What's Happening?
Chittenden County's median home listing price fell by 1.1% in July, reaching $614,900 compared to $622,000 in June. This represents a 1.2% decrease from July 2024's median price of $627,500. The median home size was 2,059 square feet, with a price of $314 per square foot, up 1.9% from the previous year. Homes were listed for a median of 44 days, shorter than the national median of 58 days. The number of new listings increased by 1.2% compared to July 2024.
Why It's Important?
The decrease in home listing prices in Chittenden County suggests a potential shift in the local housing market, impacting both buyers and sellers. Buyers may benefit from more competitive pricing, while sellers might face challenges in securing higher sale prices. This trend could influence regional real estate strategies and market conditions, as economic factors continue to affect housing demand and affordability.
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