Vermont homebuyers are getting more choices as housing inventory continues to improve, but elevated home prices are keeping affordability a major challenge.

The latest Realtor.com market data shows roughly 5,700 homes actively listed for sale across Vermont, with a median listing price of about $505,000. Homes are spending a median of approximately 54 days on the market, giving buyers more time to compare properties and negotiate.

The additional inventory represents a meaningful change from the highly competitive housing market seen during the pandemic. Buyers today generally have more opportunities to find a property that fits their needs without having to make an immediate offer.

However, more inventory has not translated into significantly lower prices.

The $505,000 median listing price remains a substantial hurdle for many Vermont households, particularly first-time buyers who are also dealing with mortgage rates, property taxes, insurance and other costs associated with homeownership.

The market is also becoming more favorable to buyers in terms of negotiating power. With properties spending nearly two months on the market, sellers may have to be more strategic about pricing, particularly when competing listings are available nearby.

For sellers, the shift means that accurate pricing is increasingly important. Homes that are priced well and in good condition can still attract buyers, while properties priced above comparable homes may take longer to sell.

Statewide numbers also mask significant differences between Vermont communities. Housing conditions in Chittenden County, resort communities and smaller rural markets can vary considerably, meaning buyers and sellers should pay close attention to conditions in their specific area.

The latest figures point to a Vermont market that is becoming more balanced rather than dramatically cheaper.

For buyers, increased inventory is a positive development because it provides more choices and reduces some of the urgency that dominated the market several years ago. But with asking prices still around the $500,000 mark, affordability remains one of the biggest obstacles facing Vermont's housing market.

The key question heading into the fall market is whether additional inventory will eventually put more pressure on prices—or simply give buyers more choices at still-high price levels.