Are you looking to upgrade from your current living situation and find a new home where you can live in absolute luxury? Is your current house too small for your growing family or are there too many household problems to fix?
Whatever your reason for looking for a new place to live, this list of the 15 most expensive home sales in Burlington, Vermont may provide you with the perfect home to purchase.
Whether you live in Vermont or are looking to move to this tranquil state, you’ll need to understand the real estate market of this state and home sales in Vermont. Keep reading to learn about the top expensive home sales in Burlington, Vermont.
Overview of the Vermont Real Estate Market
The Vermont real estate market is very active right now, with more home sales in recent years due to the COVID-19 pandemic causing more individuals and families to rethink their living circumstances.
Realtors in Vermont have found that interest in the housing market has increased despite the decline in housing availability.
With Vermont having the highest COVID-19 vaccination rate and some of the lowest numbers of coronavirus cases, more people around the country are interested in buying real estate in Vermont.
So what does the Vermont residential real estate market have in store for the rest of 2021?
The general predictions show that real estate value is expected to rise by 9.6 percent over the next year. The home sales average multiplied in Vermont in 2020. For example, the median sale price increased by 23 percent from September 2019 to September 2020, with the median home sale value reaching $348,000.
House sale prices in Vermont started growing in May 2020 after the lockdowns lifted and have not stopped throughout the summer months. This type of growth is expected to continue throughout the rest of 2021.
The average value of real estate in Vermont has grown as home prices have risen. Home values are expected to continue rising since the demand for Vermont real estate is quite high. Homes with negative equity are also predicted to decline.
Another key reason homeowners and homebuyers are looking at Vermont real estate is the state’s low unemployment rate of 3.1 percent. While the Vermont unemployment rate rose quickly at the beginning of the pandemic, it has since dropped significantly, making the state attractive to working professionals.
Real estate in Burlington, Vermont is especially appealing to homebuyers. This guide details prime home sale prices in Burlington in the next section.
Prime Real Estate Prices in Burlington
Prime real estate prices in the city of Burlington have risen tremendously over the last few years. With high demand for Burlington real estate and a low housing supply, Burlington’s average home sale price has grown by 29.5 percent since February 2020, according to the Insauga publication.
Previously, the average home sale price was $843,231 in Burlington. It has since risen to $1,067,867 when compared to the average home sale price in 2020.
Essentially, the skyrocketing prices for Burlington, Vermont even have real estate agents amazed. The low interest rates may also be fueling the high demand for home selling in Burlington.
Since the pandemic began, people have also been saving their money, as many aren’t traveling or spending money on vacations. This extra financial security allows for more people to buy luxurious homes and prime real estate in Vermont.
“There’s more demand than there’s supply,” Amy Gallant, listing agent and broker of record for PureRealty Brokerage, told the news source. “It’s a seller’s market.”
The number of days it takes to sell a house has also dropped significantly. With prime real estate prices skyrocketing in Burlington, you’ll want to look at some of the most expensive home sales in Burlington before the prices get any higher.
The 15 Most Expensive Home Sales in Burlington
This property on Elmwood was built in 1900, and the asking price is $2,995,000. Even though it’s right in town, it covers 9,987 square feet with 19 bathrooms.
The second most luxurious property in Burlington is another multi-unit building. There are nine bedrooms, eight bathrooms, and street parking. The cost for all five units of this 6,657 square feet multi-family home is $2,315,000.
Located on Maple Street, this single-family home was built in 1899. The house is 5,671 square feet, with five bedrooms and six bathrooms. The current asking price has been cut by $50,000 to $2,075,000.
Willow Street is home to an 1899 multi-family home that’s for sale for $1,834,000. The number of bedrooms and bathrooms aren’t listed, but the property sits on 6,709 square feet.
In the heart of Burlington sits a stunning three-bedroom and two-bathroom condo for sale. The condo is 1,842 square feet, and the price is down to $1,400,000.
This single-family home is located right on the water and is roughly 1,058 square feet. It has two bedrooms and one full bathroom. It was built in 1987, and the current price is set at $1,295,000.
If you’re looking for a large multi-family home, this property on Walnut Street has eleven bedrooms and six bathrooms. The property was built in 1899 and is 4,333 square feet. The price for this multi-family home is $1,200,000.
On Brooks Avenue sits a beautiful single-family home with plenty of original wood fixtures. The house was initially built in 1901 and is 3,631 square feet. There are four bedrooms and four bathrooms with an asking price of $1,075,000.
In the suburbs of Burlington is this 1950s single-family home. The property is slightly smaller than comparable homes with 2,384 square feet. It still has plenty of room for small to medium families with four bedrooms and three bathrooms. The asking price is $989,000.
This multi-family house has seven bedrooms and six bathrooms. The square footage is 3,974, and the home was initially constructed in 1899. These units are selling for $950,000.
67 Chase Street isn’t directly on the water, but it’s very close to the Winooski River. There are nine bedrooms and three bathrooms inside this 3,136 square foot multi-family home. The home was built in 1927, and the asking price is $899,000.
This multi-family home was built in 1910, and there are eight bedrooms and four bathrooms. The home is 3,204 square feet, and the current asking price is $869,000.
Original builders constructed this single-family home in 1899 with five bedrooms and four bathrooms. It is 3,052 square feet and costs $799,000.
Another large, multi-family home is on Colchester Avenue. The property sits on 3,309 square feet with nine bedrooms and four bathrooms. The listing price for this 1899 home is $795,000.
This beautiful brick, single-family home has been around since 1920. The house has four bedrooms and three bathrooms inside 2,310 square feet. It’s currently listed for $699,000.
With Burlington, Vermont, home sales in high demand, the prime real estate prices have grown tremendously during the COVID-19 pandemic. Vermont is one of the safer states in terms of case numbers and coronavirus vaccination rates.
If you’re looking for a new home, check out the prime real estate in Vermont.