“The cost of housing in Vermont continued to decline in 2011, according to The Vermont Economy Newsletter’s annual housing affordability analysis.”

““The share of median family income needed to finance the payments on a median priced home in Vermont fell to 13.1% in 2011,” said Art Woolf, author of the study. “That means housing is more affordable today than it has been in the 25 years we have been tracking housing affordability. Other evidence suggests that housing has not been this affordable since at least the early 1970s,” he continued.”…

Read the entire article Housing affordability in Vermont at record level in 2011 vtbiz.com, Monday, April 9, 2012.

“Vermont home prices declined more rapidly than most states as home prices nationwide saw some relief over the last month, but continued to decline. Vermont prices fell 3.8 percent in January compared to a loss of 3.1 percent nationally. CoreLogic (NYSE: CLGX), a leading provider of information, analytics and business services, today released its January Home Price Index (HPI) report, the most timely and comprehensive source of home prices available today. The report shows national home prices, including distressed sales, declined on a year-over-year basis by 3.1 percent in January 2012 and by 1.0 percent compared to December 2011, the sixth consecutive monthly decline….” Vermontbiz.com, March 7, 2012

“The Vermont housing market was the only one in New England to experience a year-over-year decline in both number of transactions, down -2.4 percent, and median price, down -4.3 percent, according to RE/MAX. Vermont’s median home price is $180,900, down from $189,000. This still places Vermont third highest in the region, behind only Massachusetts ($260,000) and Connecticut ($232,500).”…  vermontbiz.com, February 15, 2012

Including distressed sales, the 5 states with the highest appreciation were:

#1 Montana (+4.4 percent)

#2 Vermont (+4.0 percent)

#3 South Dakota (+3.1 percent)

#4 Nebraska (+2.5 percent)

#5 New York (+1.7 percent)

Read the entire article at December Home Price Index shows Vermont second in US - vermontbiz.com, Friday, February 3, 2012.

As a result, rental vacancy rates are dropping and rental rates are increasing.  Read the entire article in today’s Burlington Free Press.

Looks like multi-family properties are where it’s at if you’re looking for a solid commercial property investment.  Check out a few of Redstone’s Multi-Family property listings below:

457 St. Paul Street, Burlington

389 Riverside Avenue, Burlington

105 Hyde Street, Burlington

86 Pearl Street, Essex Junction

373 Vine Street, Northfield

233 Main Street, Northfield

246-250 Main Street, St. Albans

7 Alden Place, Vergennes

83 Hickok Street, Winooski

45 West Street, Winooski

Great owner occupied duplex with expansion potential as well. Large back yard. Very well maintained property with tenants in place. Ample on site off street parking area. Financials available upon request. Basement is partially finished and can be converted into a third apartment with some investment.

Click on photo for more info