The Vermont housing market was the only one in New England to experience a year-over-year decline in both number of transactions, down -2.4 percent, and median price, down -4.3 percent, according to RE/MAX.Vermont's median home price is $180,900, down from $189,000. This still places Vermont third highest in the region, behind only Massachusetts ($260,000) and Connecticut ($232,500).
RE/MAX of New England Executive Vice President Jay Hummer said the number of transactions is encouraging, but there is still a gap between what buyers think their home is worth and what it will actually sell for.
The RE/MAX of New England January Monthly Housing Report shows that year-over-year, the numberof unit sales in every state in New England, except Vermont, is slightly higher than January 2011. NewHampshire and Rhode Island experienced the highest change in units sold with an increase of 16.8 percent and 17.8 percent, respectively. While the number of transactions remain relatively flat, prices continue to dipin every state in New England.
‘The slight uptick in sales is encouraging as it means buyers are active inthe market, however, we are still trying to find a balance between buyer expectations and marketrealities when it comes to pricing,’ Hummer said.