Burlington, VT Real Estate & Homes for Sale | realtor.com® (2024)

FAQs

Is it a good time to buy a house in Vermont? ›

The months from March to June are the best time to buy a house in Vermont. This is due to the higher inventory, increased competition among sellers, and potentially lower asking prices.

The median price of a Vermont home jumped to $310,000 in 2022, an historic 15% increase from the prior year. This is the largest annual percentage increase in the median sales price of primary homes since 1988 when the Vermont Department of Taxes began publishing home sales data.

Quality of life was rated highly with 79 per cent of respondents ranking Burlington “Very good” or “Excellent” 81 per cent of respondents were at least “Somewhat satisfied” with their most recent interaction with the City.

Life as a local in Burlington is nothing short of special. With access to the Vermont's intrinsic resources during all four seasons, numerous restaurants and renowned chef's, breweries and wineries, local events, and festivals, there is always something to do and something to explore.

As a whole, New England does poorly on affordability, and Vermont's rankings are fairly typical for its area. MERIC's cost of living data series arrives at a similar conclusion, ranking Vermont 42nd, which is slightly more expensive than Maine but just a bit more affordable than New Hampshire.

Orchard. The Orchard is undoubtedly one of Burlington's most desirable family neighbourhoods. Located on the northern side of the city, Orchard is very family-friendly. There is a sense of community among residents, and they know their neighbours by name.

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.

Is Burlington, VT a good place to retire? ›

If Vermont is your chosen retirement state, here are some of the best places to retire in: Burlington: Located on the shores of Lake Champlain, Burlington is a vibrant and picturesque city that offers a wide range of cultural attractions, shopping and dining options, and outdoor recreational opportunities.

VERMONT INDUSTRIES

But Burlington remains Vermont's economic epicenter, with manufacturing, technology, health care, and higher education at its core.

Burlington is an idyllic city offering a high quality of life, a vibrant culture, picturesque landscapes and a strong sense of community. Whether it's the beautiful waterfront, the diverse amenities, or the family-friendly neighbourhoods, Burlington has something to offer everyone.

With the current trend in the CA housing market, you'll find better deals on your dream home during Q2 2024. As per Fannie Mae, mortgage rates may drop more in Q2 of 2024 due to economic changes, inflation, and central bank policy adjustments.

Home prices in Vermont are rising and will continue to rise till the supply-demand dynamic changes. The number of houses for sale in VT was only 1,893 in January 2024. There is minimal inventory to satiate the demand from house hunters.

You'll need a minimum credit score of 620. You must provide proof of a stable income. You must make a down payment of at least 3% of the purchase price of the home, but you can expect to pay private mortgage insurance (PMI) if you make a down payment of less than 20%.

Today's mortgage rates in Vermont are 6.950% for a 30-year fixed, 6.213% for a 15-year fixed, and 7.747% for a 5-year adjustable-rate mortgage (ARM).