Vermont home sales show modest recovery in volume and price

Year-over-year home sales statistics show that Vermont has experienced modest growth in both total transactions, up 3.6 percent, and median price, up 1.6 percent, year-over-year. Potential sellers should consider listing their homes now, instead of waiting for spring, because of the increased demand for inventory, according to the RE/MAX of New England January Monthly Housing Report.
While the other states sold relatively more homes, Vermont had the second highest increase in median home price.
The RE/MAX Report shows a strong start to 2013 in New England overall, with year-over-year increases in total units sold, median price and pending sales. Month-over-month, January’ s sales dipped slightly as seasonal activity slowed. Notably, despite the winter season, more buyers and sellers are active in the market as pending sales are up month-over-month.
‘ In January, we experienced higher sales year-over-year and a bump in pending sales month-over-month. Activity is up, however, as the numbers show and our RE/MAX Agents are reporting, inventory levels are low, especially in urban areas,’ said Dan Breault, EVP/Regional Director of RE/MAX of New England. ‘ This is an excellent situation for sellers; they don’ t need to wait for the spring market to list their home. Buyers are out there, ready to purchase.’
Breault said limited inventory and a surplus of buyers should encourage sellers to take action now instead of waiting for the traditional spring real estate season.