Vermont Real Estate Zillow (2024)

FAQs

Are home prices dropping in Vermont? ›

According to data from Redfin, year-over-year growth reached a peak of 25.7% in May 2021, and maintained double-digit percentages until mid-2022. However, by the close of 2022, home prices had only increased by 1.1% from the previous year, and by April 2023, they had declined by 4.1%.

$381,042. The average Vermont home value is $381,042, up 4.7% over the past year and goes to pending in around 13 days.

The average price of Vermont farms, ranches and other land parcels for sale is $698,680.

The median price for a Vermont home in 2022 was $310,000, according to the report. The 15% increase from the prior year is attributed to both the state's “constrained supply of available homes for sale and an increased demand to live in Vermont since the pandemic,” the report says.

This is an indicator that consistent demand has driven up home prices in Vermont, with the trend emerging even before the outset of the pandemic. However, it should be noted that while the overall volume of home sales was still high, fewer homes were sold in 2022 (7,764 homes) than in 2021 (8,408 homes).

Vermont is one of the most expensive states; data from 2021 states the average cost of living in the state is $50,761. As of March 2023, the average home value in Vermont is estimated to be around $332,149. The average monthly cost of utilities is around $405.

The Vermont Livable Wage is defined in statute as the hourly wage required for a full-time worker to pay for one-half of the Basic Needs Budget for a two-person household with no children and employer-sponsored health insurance, averaged for both urban and rural areas. The 2022 Vermont Livable Wage is $15.33 per hour.

Vermont Property Taxes

That statewide education tax is one reason the Green Mountain State has some of the highest property tax rates in the country. The 1.73% average effective rate in Vermont ranks as the fifth-highest in the country. Are you interested in buying a home in the Green Mountain State?

Homeowners in Vermont are required to pay property taxes every year. If you own property in the state, you must pay property taxes each year.

How much does it cost to build a 2000 sq ft house in Vermont? ›

It costs about $128.35 per square foot to build a house in VT. So, you would have to spend $256,700 to build a 2,000-square-foot home in Vermont. These costs will vary depending on location, property type, labor expenses, material costs, etc.

The 48 matching properties for sale in Vermont have an average listing price of $664,406 and price per acre of $19,248. For more nearby real estate, explore land for sale in Vermont.

Based on recent statistics the 10 Cheapest States to buy land in the US are New Mexico, Arizona, Nevada, Arkansas, Mississippi, West Virginia, North Dakota, Louisiana, Oklahoma & Kansas.

The ten states with the cheapest land are Arizona, New Mexico, Mississippi, Colorado, Arkansas, New York, Missouri, Oregon, Alabama, and Michigan. Arizona is the cheapest state to buy land with a median price of $4,164 per acre.

From March 2020 to October 2023, the State invested nearly $400 million in historic federal funds to support new construction, fix up vacant units and expand shelter capacity. Yet we still face a significant shortage in every county.

Vermont Housing Demand

How competitive is the market? In March 2024, 30.5% of homes in Vermont sold above list price, down 3.6 points year. There were only 14.8% of homes that had price drops, up from 10.0% of homes in March last year. There was a 99.0% sale-to-list price, down 0.25 points year over year. …

Leading the nation with the largest drop from the 2022 peak is San Francisco, where home prices have fallen nearly 17%. Other cities with double-digit home-price declines from last year's peaks include Seattle, San Jose, and Phoenix.

Vermont's real estate market is changing. Sales of homes over $1 million decreased in 2023 by 6.5% compared to the peak the year before. Buyers placed a bigger discount on homes that needed work due to high building costs and a shortage of contractors.