The Vermont housing market in 2025 is in a transitional state. After several years of rapid price growth, ultra‑low inventory, and quick sales, signs of moderation are beginning to appear. Homes are still selling, prices remain elevated in many areas, but buyers have a bit more breathing room—and listings are beginning to linger longer than in the frenzied past.
How We Gauge Trends: Key Metrics
Median / average home prices & appreciation
New listings, inventory changes, months of supply
Closed sales / volume of transactions
Days on market / time to pending / speed of sale
Regional / county variation
Interest rates, affordability pressures, policy, and buyer behavior
Price Trends: Still Rising, But More Nuanced
Statewide / Broad Direction
Despite some cooldowns, Vermont prices are still pushing upward in many markets, though with more divergence between booming counties and more rural zones.
In March 2025, Templeton VT Homes reported average sale price of $558,790, up +22.11% year-over-year, with a median sale price of $464,500, up +23.06%.
That said, not all markets are as aggressive. Vermont Public noted that by mid‑2025, the statewide median sale price for primary homes had risen to about $370,000, reflecting large variation across counties.
In northwest & central Vermont, the mid‑year 2025 update from Hickok & Boardman reported a median single-family home price around $500,000, representing ~5.26% growth over the prior year.
In the multi‑family sector, significant appreciation is visible. In northwest / central Vermont, multi-family median sale prices climbed ~26.9%, and average sale prices rose over 33%.
Condo / townhouse markets have mixed signals. In northwest Vermont, the condo / townhouse median remained at ~$347,000, up ~3% YoY in March.
So while strong markets (Chittenden, parts of the northwest) are seeing continued momentum, more rural or less desirable counties see more modest gains or slower movement.
Another important nuance: list‑to‑sale price ratios are cooling. In the mid‑year report, Templeton VT Homes observed that Franklin and Washington counties are trending closer to 98–99% of list, and Lamoille county is averaging ~95%, though seasonal second‑home dynamics skew that.
Inventory, New Listings & Supply Side
One of the more visible shifts in 2025 is the rise in inventory. This is giving buyers more choices—and slightly tempering the “every great house gets multiple offers within a day” dynamic of the past.
Many records report active listings up ~19.2% year-over-year, offering more options for buyers.
In March 2025, inventory was up ~27.8% for single-family homes and up ~64.3% for townhouse/condo properties compared to the prior year.
New listings in northwest Vermont also increased: in March, single-family new listings were up ~22.4%.
Lake Champlain Real Estate’s March 2025 report for Chittenden/Franklin/Grand Isle counties shows inventory rising ~31.3% year-over-year, and new listings up ~20.2%.
These increases in inventory imply that the frenzied scarcity is easing somewhat—but it’s not overbuilt yet. In many towns, supply remains lean, especially in the more desirable zones.
Another telling marker: in July 2025, Templeton VT Homes noted 308 price reductions, 50 homes returning to market, and 63 listings expired / terminated. That suggests that overpricing or deals falling through are becoming more common.
Sales Volume & Market Activity
Is the demand side holding strong even as price momentum shifts?
In northwest Vermont (Grand Isle, Chittenden, Franklin), in March 2025, closed sales jumped ~18.8% year-over-year.
In a mid‑year 2025 report, Vermont had sold ~1,005 homes year‑to‑date, a ~9% increase over the same period in 2024.
Another mid-year update also shows increased volume in multi‑family properties: 87 multi-family units sold (a ~28% increase), and new listings in that segment up ~11.6%.
In June 2025, the Northwest Vermont market saw closed sales increase ~10.2% compared to the previous year.
These data points suggest buyer interest remains, especially in strong counties and for multi-family assets. But the pace is shifting: rather than every listing generating multiple offers instantly, some homes are seeing slower decision cycles.
A March 2025 snapshot showed that pending sales dipped slightly (~ ‑5.81% YoY) though total properties under contract were up ~6.25% year-over-year.
Days on Market: How Long Homes Are Sitting (2025)
Selected Reported Metrics
In March 2025, Templeton VT Homes reported average DOM = 37 days, up ~15.63% YOY, and median DOM = 13 days, up ~30%.
In September 2025, Templeton market update states average DOM = 37 days, a +54% increase compared to Sept 2024, and median DOM = 16 days, up +60%.
In their mid‑year county-level trends, Templeton indicates:
• Franklin & Lamoille Counties: now averaging 40–50 days DOM
• Washington County: ~35–40 days
• Chittenden County: ~25–30 days (up from under 15 a year ago)
In northwest Vermont, June 2025 reporting shows homes selling with a median of 8 days on market in that region (Grand Isle / Chittenden / Franklin).
In the Northwest Vermont REALTOR® June 2025 release, they noted that DOM (for single-family) increased 16.7% to 7 days compared to the prior year (for that region).
In January 2025, northwest Vermont reporting showed DOM for single-family homes at 24 days, down ~4.1% from prior year.
For multi-family properties, the Hickok & Boardman July 2025 report states average DOM was ~ 69 days in northwest/central Vermont.
Thus, across Vermont, DOMs are lengthening, especially outside of the most in-demand locales. Homes that a year ago might have moved within days now often take multiple weeks.
One notable outlier: in March 2025, the Northwest Vermont region (Chittenden/Franklin/Grand Isle) reported a median of 6 days on market for single-family homes—~25% faster than the prior year.
This suggests that in extremely hot micro‑markets or for especially desirable properties, DOM still can be very low. But that is no longer universal.
Also, for multi-family assets, the longer DOM (~69 days reported) shows that higher-cost or investment properties are more susceptible to slower turnover.
So, average Vermont homes in 2025 may now be on market 3–6+ weeks, particularly in counties outside Chittenden or high demand zones.
Regional / County Variation
Chittenden / Northwest Vermont
Chittenden County still tends to sell faster than many other counties. But even here, it’s slowing. In the mid‑year report, Chittenden DOM is ~25–30 days (up from under 15 days).
In June 2025, the median sales price in the Northwest Vermont region rose to $524,000, a ~4.8% increase YoY, with a median DOM of 8 days.
The Northwest REALTOR June 2025 release showed DOM rising 16.7% to 7 days in that region.
Chittenden and sandwich counties remain the most competitive, but even they are showing extended cycles compared to peak years.
Franklin, Lamoille, Washington, Rural Counties
Franklin & Lamoille: DOM 40–50 days, according to the mid-year trends report.
Washington County: ~35–40 days.
Some more remote or rural counties might see even slower turnover, particularly for properties that require updates, are far from amenities, or in lower-demand locations.
Multi-Family / Higher-Priced / Investment Properties
As noted, multi-family homes tend to linger longer. In the northwest / central Vermont region, average DOM for multi-family was ~69 days in 2025.
Because these properties often command higher prices and appeal to narrower buyer pools, their absorption is slower in a softening environment.
Seasonal / Second‑Home / Resort Areas
Listings in resort or second-home zones may see more volatility. Seasonal timing and condition affect how quickly they sell.
In resort markets, off-season DOMs may stretch considerably.
Some properties frequently return to market, expire, or require price reductions, as indicated by the back-on-market / expired listings data in a 2025 update.
What’s Driving These Shifts
Rising Inventory & Buyer Choice
The increase in active listings (19.2% YOY in one source) and more price reductions / expired listings suggest buyers now have more leverage and more homes to evaluate.
With competition easing slightly, buyers take more time, pricing matters more, and sellers must be more strategic.
Higher Interest Rates & Affordability Pressures
Mortgage rates remain elevated compared to the low‑rate period, reducing buying power. Buyers are more cautious about stretching budgets, which slows decision making and moderates bidding wars.
This dynamic forces more properties to linger, especially those at higher price points or requiring renovations.
Slower Buyer Urgency & Market Fatigue
Some buyers are less willing to act immediately or waive contingencies. In the July 2025 templeton update, the rise in back-on-market deals suggests more buyers are walking away during inspections or contingencies.
Pricing Discipline & Overpricing Penalties
Sellers who overprice initially are facing longer DOMs and price cuts. Listings that correctly price, stage, and market well are more likely to sell faster and closer to asking. Templeton’s county report emphasizes that list-to-sale ratios are declining in many counties.
Thus, pricing strategy now carries more weight than ever.
Policy, Zoning & Local Constraints
While Vermont does not have the same scale of zoning battles as some states, local permitting, development constraints, and conservation rules still limit supply in many desirable areas.
Also, Vermont has a high proportion of “equity-rich” homeowners: ~85.8% of mortgaged homes are considered equity-rich (i.e. loan balances ≤ 50% of home value)—which may reduce urgency to sell.
Regional Migration & Demand Shifts
During the COVID era, Vermont attracted many migration inflows. That momentum is waning. Some reports indicate net outflow or slower population growth, which could dampen long-term demand.
However, Vermont still holds appeal for those seeking lifestyle, rural character, second homes, or remote work settings.
What to Watch & What It Means for Buyers, Sellers & Investors
For Sellers
Price carefully from the start — overpricing is riskier now.
Stage and condition matter a lot — upgrades or presentation help reduce DOM.
Be patient — even good homes may take weeks.
Watch inventory bursts — if many similar homes list, competition intensifies.
Monitor local county trends — what sells quickly in Chittenden may not in Franklin or Lamoille.
For Buyers
You may have more time — less rush, more leverage.
Be ready with financing & inspection — when you find a good home, acting cleanly helps secure it.
Target markets where absorption remains strong — desirable towns, proximity to job centers, or amenities.
Negotiate more, especially for homes lingering — sellers may be more responsive now.
For Investors / Renovators / Rental Buyers
Plan for increased holding costs — each extra day on market eats at margin.
Focus on fundamentals — location, amenities, condition matter more than ever.
Be cautious on high-end or niche properties — these often see slower turnover.
Have fallback strategies — ability to rent long-term or pivot if resale takes longer.
In 2025, Vermont’s housing market is evolving. The days of hyper‑fast flips and multiple-offer queues across every listing are giving way to a more measured, nuanced environment. That said, many homes still sell rapidly in strong areas if framed properly.
