Vermont experienced a 25 percent increase in home sales in March 2012 compared to March 2011. However, median prices declined -6.4 percent, according to the latest RE/MAX of New England housing report. February also saw an increase in sales and a drop in values, which reverses a trend seen throughtout the econmoic downturn in which home prices remained relatively high compared to the rest of New England, while units sold stayed flat.
The monthly housing report also shows double-digit growth in year-over-year home sales in every New England state in March.Vermont has the third highest median home prices in the region, behind Massachusetts and Connecticut.
In other states, Maineâ s1.1 percentgrowth in year-over-year median sales price was the largest gain in the region. Maine home sales also rose 12.1 percent.
Massachusetts experienced a 14.3 percentincrease in year-over-year home sales. The median sales price also experienced a slight uptick, up 0.5 percent.
New Hampshire home sales rose 12.3 percentyear-over-year, and median prices remained relatively flat.
Rhode Island experienced the largest increase in year-over-year home sales, up 25.6 percent.
Connecticutâ s number of homes sold increased 15.4 percentin March 2012 compared to March 2011, while the median price declined -5.4 percent.
RE/MAX of New England Executive Vice President Jay Hummer says the region is beginning to experience stabilization in median home prices.