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Doug Whiteman By Doug Whiteman

The financial crisis touched off by the coronavirus outbreak has raised concerns about home values in Vermont and across the U.S.

Despite the lowest mortgage rates on record, homeowners in some parts of the country have seen their property values go down as the pandemic has made homebuying and selling much more of a challenge.

Real estate agents have stopped holding open houses because of social distancing needs, and buyers are now touring houses via videos, 3D technology and live conferencing.

How's the market doing in Vermont? It's hot, according to Zillow. Find out if that's likely to change.

Current home values in Vermont

Home values have been rising throughout Vermont and are up 27.9% from a year ago.

Statewide, the median value for a single-family home — meaning half are worth more, half are worth less — is currently $431,776, Realtor says.

Real estate agents say would-be homebuyers in some parts of the country are starting to overcome the obstacles caused by COVID-19 and are going virtual house hunting to take advantage of today's bargain mortgage rates and the low monthly house payments they provide.

Here's how that works in Vermont: Let's say you want to buy a mid-priced home using a 30-year fixed-rate mortgage at the current average interest, which is a low 3.33%, according to mortgage company Freddie Mac.

A 30-year mortgage for a $431,776 home at 3.33% would give a typical Vermont homebuyer a monthly payment of $1,519, assuming a 20% down payment.

How the Vermont housing market stacks up

Happy family outside at sunset
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Vermont families can enjoy wooded walks duirng sunet in the fall

The state's median home value is higher than the U.S. median of $248,948, which is up 5.1% from a year ago.

While the coronavirus is expected to continue hanging over the U.S. economy like a dark cloud, Zillow forecasts that U.S. home values will rise 5.1% over the next year, while in Vermont, they're predicted to rise 2.7%.

Homes right now are going on the market in Vermont at a median price of $149 per square foot, versus $134 per square foot nationwide.

Are you looking to buy? Take a look at today's best mortgage rates where you live.

Vermont home prices over the last 10 years

Year Avg. Price
2020* $260,741
2019 $203,925
2018 $197,100
2017 $191,467
2016 $185,517
2015 $183,658
2014 $182,842
2013 $180,158
2012 $179,192
2011 $178,575
2010 $180,292
2009 $181,400

*2020 price average through March 31, 2020.

How much for an average-sized home?

Here's what a 2,500-square-foot home in Vermont is worth now, and how that's changed over the last decade, based on the Zillow Home Value Index.

Year Avg. Price
2020* $372,581
2019 $0
2018 $0
2017 $0
2016 $0
2015 $0
2014 $0
2013 $0
2012 $0
2011 $0
2010 $0
2009 $0

*2020 price average through March 31, 2020.

About the Author

Doug Whiteman

Doug Whiteman

Editor-in-Chief

Doug Whiteman is the editor-in-chief of MoneyWise. He has been quoted by The Wall Street Journal, USA Today and CNBC.com and has been interviewed on Fox Business, CBS Radio and the syndicated TV show "First Business."

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