Vermont homes sales, prices surge
Vermont home sales continue to show improvement, as a new RE/MAX report indicates that both actual sales and average price both rose in August. Vermont's median price is third in New England at $207,000, behind Massachusetts ($310,000) and Connecticut ($287,500).
Vermont experienced the largest year-over-year increase in median price in New England, up 3.1%. Home sales also jumped 16.1% while pending home sales increased 34.1%.
RE/MAX of New England Executive Vice President & Regional Director Dan Breault says pricing should remain favorable for buyers throughout the fall, but a decrease in inventory may give sellers an advantage.
“Inventory is a serious challenge for many buyers, giving sellers the upper hand,” commented Dan Breault, EVP/Regional Director of RE/MAX of New England. “Prices dipped as the summer came to a close, but sales throughout the fall should remain active due to favorable pricing.”
The RE/MAX of New England August Monthly Housing Report shows continued stability in the market with increasing sales in New England year-over-year and month-over-month. Overall, the number of units sold is up 20.0% year-over-year. Recently, RE/MAS has reported increases in price for almost every state in New England; but, in August the median price was flat with an overall decrease of -0.2%. However, year-over-year, the number of pending sales is up on average 33.0%, with CT experiencing 48.1% growth followed by RI with an increase of 40.1% year-over-year.