Vermont homes sales show modest growth
The RE/MAX of New England July Monthly Housing Report shows solid growth in total transactions, pending home sales and median price in almost every state. Vermont home sales showed modest growth, experiencing a 1.2 percent increase in year-over-year units sold and a 1.1 percent increase in median price.
In Connecticut, the number of total transactions is up 17.6 percent year-over-year. The median price also jumped 5.4 percent. Massachusetts experienced a 21 percent increase in year-over-year units sold. The median price also increased for another month, up 2.8 percent year-over-year. In New Hampshire, units sold jumped 18.8 percent year-over-year, while the median price ticked up just 0.2 percent. Rhode Island’s 32.4 percent year-over-year increase in units sold is the largest increase in New England, but the Ocean State is also the only state which did not experience an increase in median sales price.
Overall, the number of units sold in New England is up 19.7 percent year-over-year in New England. Month-over-month and Year-over-year, the median price continues to increase, with the exception of Rhode Island where pricing is still stabilizing. The number of pending sales is up on average 33.7 percent over last year, with some states, like CT, experiencing more than 40 percent growth.
“Consumers understand the opportunities in the market and with interest rates still low, also realize that it’s less expensive to buy than to rent,” said Dan Breault, Executive Vice President, RE/MAX of New England. “In the upcoming months, I anticipate even more buyers moving off the sidelines and into the playing field.”