Is Burlington, VT a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Burlington has remained a Seller's Market.
Key Takeaway
Burlington is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Burlington, VT
How much do homes in Burlington, VT cost?
Median Sold Price
$506,500
$350/sqft
Based on all homes sold in May 2024.
Difference Since Last Month
Key Takeaway
Homes in Burlington have sold for 4.8% more than they did a month ago.
Summary: The median home sold price in Burlington was $506,500 in May 2024, up 4.8% from last month, and the median price per square foot was $350.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $220K | $350K | +59.1% |
| 2 Bedrooms | $390K | $347.5K | -10.9% |
| 3 Bedrooms | $611.5K | $524.5K | -14.2% |
| 4 Bedrooms | $628.5K | $782.5K | +24.5% |
| 5+ Bedrooms | - | $1.3M | N/A |
Summary: Burlington housing prices by bedroom type for May 2024 compared to the previous month: The home price of 1 bedroom homes increased by 59.1%, 2 bedroom homes decreased by 10.9%, 3 bedroom homes decreased by 14.2%, 4 bedroom homes increased by 24.5%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Winooski | $370K | $410K | +10.8% |
| South Burlington | $422.5K | $450K | +6.5% |
| Burlington | $483.5K | $506.5K | +4.8% |
| Colchester | $555.9K | $415K | -25.3% |
Housing Supply in Burlington, VT
How many homes are available in Burlington, VT?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 59 | 82 | +39.0% |
Summary: The Burlington real estate market had 82 homes for sale in May 2024, a 39.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 6 | +50.0% |
| 2 Bedrooms | 22 | 24 | +9.1% |
| 3 Bedrooms | 17 | 30 | +76.5% |
| 4 Bedrooms | 13 | 18 | +38.5% |
| 5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The Burlington housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 9.1%, 3 bedroom homes increased by 76.5%, 4 bedroom homes increased by 38.5%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 10 | 20 | +100.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Burlington, you could pay more than the asking price. 40% of homes here sold above asking price last month.
Summary: A total of 20 homes were sold or pending in Burlington in May 2024, up by 100.0% month-over-month. Of the 20 sold homes, 25% were sold under asking, 35% were sold at asking, and 40% were sold over asking.
Days on Market for Burlington, VT
We’re sorry, we don't have information for this market at the moment
© Copyright 2024 PrimeMLS, Inc. All rights reserved. This information is deemed reliable, but not guaranteed. The data relating to real estate displayed on this display comes in part from the IDX Program of PrimeMLS. The information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.