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Vermont State Overview

Naomi M — Sat, 29 Sep 2007 22:25:42 -0500

Capital: Montpelier

Estimated 2004 population: 621,394

Change from 2000: +12,567

2004 housing units: 304,291

Housing units change from 2000-2004: +9,344

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Vermont Economy

Vermont housing market – not so hot any longer

Sat, 23 Jun 2007 00:00:00 -0500

Vermont's housing market appears to be cooling after some very hot years.

Real estate analysists Allen and Brooks report that housing sales for the first four months of this year were down 23% from the same period last year.

Realtors say sellers hoping to get 2005 prices for their homes are seeing them sit on the market much longer than was the case a year ago.

The median home price in Vermont has risen only slightly from last year -- to $210,000. In Chittenden County, it's down slightly -- to $269,000.

Vermont baby boomers and retirees are changing the housing market

Fri, 01 Jun 2007 14:15:13 -0500

The population of Vermont residents over age 65 is expected to double in less than ten years. All of this is having an impact on the housing market.

Many older people are moving out of their homes into smaller quarters, including Allen Provost, who recently moved into Northern Meridian, a new 88-unit apartment complex on Lime Kiln Road in South Burlington. "I'm old, 79 years old," he told Channel 3. "So I sold my house and moved into something like this."

Burlington, Vermont rental market cools off

Fri, 25 May 2007 00:00:00 -0500

Overall, the Burlington area's apartment vacancy rate has risen slightly -- to a bit over two percent -- meaning the rental market is still tight. Normally that would make it a good investment. Buyers of rental housing look at the price of a building in terms of what it will produce in cash flow, per bedroom.

Vermont housing prices holding stable

Fri, 11 May 2007 00:00:00 -0500

In terms of inventory, Vermont had historically low number of homes available and everybody wanted one. Three, 4, 5 people were competing for each home available. “It was severe," said Tom Heney of Lang McLaughry Spera, a real estate company in South Burlington.

But then things began to cool. The number of houses for sale in Vermont has about doubled in the last two years.

The downturn in the housing market in Vermont has not been as dramatic as other parts of the country. Experts say it's not a seller's market anymore, but it's not buyer's market either.