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Vt. home prices have seen third highest increase of any state

Home prices across the country have been rising, but Vermont house prices have seen the third-highest increase of any state — rising 16.9% in the last year — according to a new study. 

Other key takeaways from the study:

• House prices in Florida have risen 19.9% in the past year, the highest increase of any state.

• South Carolina saw the second-highest rise in house prices at 19.2%.

• Idaho has had the smallest increase in house prices of any state, rising just 1.3%.

The research by a real estate organization called RubyHome analyzed data from Zillow for the past year, across all 50 states to determine which state had seen the biggest rise in housing prices.

The data showed that Florida had the biggest increase in house prices over the past year, rising 19.9%. The average house price for a home in Florida at the beginning of the year stood at $404,939.

South Carolina has seen the second-biggest increase in house prices during 2022. The average house price in the state has risen by 19.2%. A property in South Carolina as of January had an average cost of $300,667.

The state with the third-highest increase in property prices is Vermont. The average house price in Vermont — statewide —a few months ago was $386,285 after increasing 16.9% over the previous months.

Tennessee and North Carolina rank fourth and fifth respectively. House prices in Tennessee have skyrocketed 16.3% over the past year, resulting in house prices currently sitting at an average of $311,333. North Carolina, which places fifth in the state rankings, have had house prices increase 15.7% during 2022 which means the average house price in North Carolina is $329,634.

At the other end of the scale, the state that has seen the smallest increase in house prices is Idaho. There has been just a 1.3% increase in house prices in 2022 in Idaho. The average house price in the state in January was $459,947.

California has seen the second-lowest increase in house prices out of all 50 states. The average house price in California is now $760,644 after increasing 4.4% in the previous 12 months.

The third-lowest increase was in Oregon with the house price there $510,401 after increasing 5.5% in 2022.

In Minnesota, there has been a 5.6% rise in house prices over the last year, making the state have the fourth-smallest increase in house prices. House prices in Minnesota averaged $333,294 in January.

Three states have had the fifth-lowest increase in house prices, all with 5.8% — New York, Nevada and Arizona. The average house prices were $782,365 in New York, $419,675 in Arizona and $433,100 in Nevada.

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