2016 was a record year for Lake Champlain waterfront home sales
Chittenden County lakefront home sales skyrocketed in 2016 to a whopping 45 homes and condos sold in 2016. That’s over a sixty six percent increase from 2015 and well above any sales in the last ten years. Typically lakefront properties average less than one percent of total sales while in 2016 they jumped to 2.3%. We are expecting this trend to continue which certainly benefits lakefront sellers who have been at the mercy of a slow market in previous years.
Sales are off to a brisk start for the first quarter of 2017 with 7 waterfront properties closed as of the date of this post and 3 more under contract. Given this is typically the “slowest” time of the year we are optimistic of a strong selling season. With 27 lakefront properties currently available ranging from $229,000 to $4,995,000, and more coming, there’s sure to be a property that meets almost everyone’s budget.
Colchester leads the way
Once again Colchester dominated with the majority of sales at 18. With more shoreline than any other town in Chittenden County Colchester is a consistent sales leader. Charlotte climbed up from the bottom into second place with 9, Shelburne jumped into third place with 8 sales and Burlington came in last with only one sale. Of note was South Burlington which had a flurry of activity in the South Beach development with 5 out of their six sales. See all of the Chittenden County Lake Champlain waterfront sales here.
Charts & Graphs
Following are some charts showing sales volume, sales by town, sales prices and days on market. Please feel free to contact us for more detailed information about Lake Champlain waterfront properties. Should you be thinking of selling your home soon check out our eGuide: Things To Consider When Selling Your House
Thinking of buying a lakefront home? Check out our eGuide: Things to Consider When Buying A Home