7. Burlington-South Burlington, Vt.
Total population (2009): 207,688Median sales price (Q4 2010): $270,600
Median sales price % change (Q4 '09-Q4 '10): 14.4%
Sales volume (# units sold in 2010): 1,223
Sales volume % change (2009-10): -2.7%
Unemployment rate (Dec. 2010): 4.5%
Foreclosure activity rate (2010): 1 in 991 units
The median sales price in Burlington-South Burlington jumped 14.4 percent in the fourth quarter of 2010 compared to the same period a year before, to $270,600
The rental market vacancy rate is very low for a number of reasons: older housing stock and tough permitting procedures, the local colleges, (a) popular place to live ... with the lake, hiking and skiing nearby. This, in turn, pushes our housing prices up well beyond what other parts of the state pay.
The median sales price for residential listings in the state of Vermont in 2010 was $202,000, according to MLS. Average days on market for listings in Vermont as a whole were 161 last year, compared with 126 in the Burlington-South Burlington metro area, according to the MLS.
Major employers in the Burlington market include the University of Vermont, IBM, Fletcher Allen Health Care, Ben & Jerry's, Burton Snowboards, Seventh Generation, Bruegger's Bagels, General Electric Healthcare, and Pizzagalli Construction Co.
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