If you’ve been following the Vermont real estate market, you’ve probably been asking the same question that many buyers and sellers across Chittenden County have been wondering lately: Are we finally seeing more inventory?
The answer is yes—but there’s an important caveat.
While inventory is increasing, buyer demand remains incredibly strong. More homes are coming onto the market, but buyers are continuing to act quickly when desirable properties become available. As a result, the additional inventory isn’t sitting around for long.
This month’s numbers tell the story of a market that is becoming healthier and offering more opportunities for buyers without losing the strong demand that has defined Vermont real estate over the past several years.
Inventory Is Growing, but So Is Buyer Activity
One of the biggest trends we’re seeing this spring is an increase in new listings. During May, 267 new properties came onto the market throughout Chittenden County, compared to 222 in April. That’s more than a 20% increase in just one month.
Single-family home listings increased from 156 to 171, while condominium listings saw an even larger jump, increasing from 68 to 96 new listings.
This growth is encouraging for buyers who have spent the last several years navigating limited inventory and intense competition. More listings mean more choices and more opportunities to find the right home.
However, more inventory doesn’t automatically mean an easier market.
As quickly as new listings are arriving, buyers are stepping in and purchasing them.
Homes Are Still Selling at an Incredible Pace
Despite the increase in available homes, properties throughout Chittenden County continue to sell remarkably fast.
The average home sold in just six days during May. Single-family homes moved even faster, averaging only five days on the market before going under contract. Condominiums took slightly longer at nine days, but even that remains exceptionally quick by historical standards.
It’s easy to forget how unusual these numbers really are.
Before 2020, it was completely normal for homes to spend several weeks on the market before finding a buyer. Today’s market looks very different. Well-priced homes are often attracting immediate attention and receiving offers within days of being listed.
For buyers, this means that while there may be more options available than there were a year ago, preparation still matters. The best opportunities continue to move quickly.
What Are Home Prices Doing?
Across Chittenden County, the overall median sales price came in at $518,000 during May, which was approximately 4% lower than the same time last year.
When we break that down by property type, single-family homes had a median sales price of $560,000, representing a 5.6% decrease year over year. Condominiums moved in the opposite direction, with median prices increasing 4.3% to $401,500.
Before anyone interprets these numbers as a sign that home values are falling, it’s important to understand how median pricing works.
The median sales price can shift based on the mix of homes that sell during a particular month. A few luxury home sales can push the median upward, while a strong month for entry-level homes can pull the median lower. Because of this, month-to-month and even year-over-year changes don’t always reflect broader market appreciation or depreciation trends.
Instead of focusing on one number, it’s important to evaluate pricing alongside inventory levels, buyer demand, and overall market activity.
The Market Is Becoming Healthier
One of the best indicators of market balance is months of supply, which measures how long it would take to sell all available inventory at the current pace of sales.
In April, Chittenden County had 2.1 months of inventory available. By May, that number had increased to 2.5 months.
Single-family homes increased from 1.9 months of supply to 2.4 months, while condominiums increased from 2.5 months to 2.8 months.
This represents meaningful progress and is one of the clearest signs that inventory is moving in a positive direction.
However, it’s also important to keep these numbers in perspective. A balanced real estate market typically requires between five and six months of inventory. At 2.5 months of supply, Chittenden County remains firmly in seller’s market territory.
What we’re seeing is not an oversupplied market. Instead, we’re seeing a market that is gradually becoming more balanced while still favoring sellers.
Why Isn’t Inventory Piling Up?
The answer becomes clear when we look at pending sales.
During April, 228 properties went under contract throughout Chittenden County. In May, that number jumped to 275 pending sales.
Single-family home contracts increased from 150 to 175, while condominium contracts increased from 78 to 100. That’s more than a 20% increase in buyer activity in just one month.
These numbers demonstrate that demand remains strong across the region. Even as more homes come onto the market, buyers are continuing to absorb that inventory almost immediately. This may be the strongest indication that the Vermont housing market remains healthy and active heading into the summer selling season.
What This Means for Buyers and Sellers
For buyers, the increase in inventory is welcome news. Many buyers are finally beginning to see more homes come onto the market, giving them additional options and a greater sense of confidence as they continue their search. At the same time, buyers should not mistake increasing inventory for a slow market. Well-priced homes continue to attract significant interest, and preparation remains critical when the right property becomes available.
For sellers, market conditions remain favorable. While competition has increased slightly as more homes enter the market, demand continues to support strong pricing and quick sales for properly marketed properties. The advantage sellers have enjoyed over the past several years may be softening slightly, but it certainly hasn’t disappeared.
The Bottom Line
The Vermont real estate market is showing signs of becoming healthier as inventory levels continue to improve across Chittenden County. Buyers have more choices than they did a year ago, which is a positive development for the market as a whole. At the same time, strong buyer demand is preventing inventory from accumulating and continues to drive quick sales throughout the region.
The biggest question moving forward isn’t whether inventory is increasing. It clearly is. The question is whether inventory can continue to grow faster than the demand we’re seeing from buyers. That’s the trend we’ll be watching closely as we move deeper into the summer market.
If you’re thinking about buying, selling, or simply trying to understand what these market trends mean for your specific situation, I’d be happy to help. Every neighborhood, price point, and property type tells a slightly different story, and understanding your local market can make all the difference.
Stay tuned for next month’s market update, where we’ll take another look at inventory levels and what they’re telling us about the future of real estate in Chittenden County and throughout Vermont.
