Vermont home sales, prices jumped in June
Vermont’s median home sales price increased 4.5 percent year-to-year, according to the most recent REMAX report. Vermont boasts the biggest price increase in New England. The number of units sold also jumped 15.1 percent. In recent months, units sold has been increasing, but prices have remained flat. The June numbers show a marked increase in both measures, indicating that demand has increased significantly.
Vermont sold 618 units at an average price of $210,000, which ranks it behind Massachusetts and Connecticut in price, but ahead of New Hampshire and Rhode Island.
For all the states, the June Monthly Housing Report by RE/MAX of New England shows that the number of units sold in New England is up 13.1 percent year-to-year.
According to RE/MAX of New England Executive Vice President Dan Breault, there is increasing evidence that consumer confidence is returning and the market is continuing to stabilize. (SEE CHARTS BELOW)
Month-over-month, the median price and number of units sold are up in every state in New England (except Maine which is not included in the RE/MAX report). In addition, the number of pending sales, year-over-year, is up an average of 28.4 percent, indicating that consumer confidence continues to increase within the market.
“While we did see a modest dip in median price year-over-year, more units were sold both year-over-year and month-over-month,” Breault said, “These factors indicate a stabilizing housing market with diminishing inventory.”
In New Hampshire, year-over-year home sales increased 16.4%, while the median price dipped -3.8%.
Massachusetts home sales jumped 18.4% year-to-year, while the Bay State’s median price increased 0.9%. June is the fourth consecutive month the median price has increased.
In Connecticut, home sales were relatively flat compared to June 2011.
Rhode Island home sales spiked 24.2% year-to-year, which is the largest increase in New England.
However, the median price decrease of 11% is also the largest year-to-year decline in New England.
Source: RE/MAX 7.18.2012