The RE/MAX of New England March Monthly Housing Report shows pending home sales are up on average 26.5 percent over March 2013. Inventory in every state except Vermont shows a decrease year-over-year. Overall home sales show an increase of 31.5percentmonth-over-month, an expected trend as the busy spring market arrives.Vermont showed a decrease in total transactions, down -3.5percent, while median price stayed level at $195,000 year-over-year. Pending sales were up 16.5percentyear-over-year.
“We expect to see stronger numbers each month as we get into the traditionally busy housing-market season,” said Dan Breault, EVP/Regional Director of RE/MAX of New England. “Month-over-month, pending sales are up an average of 64.1percent, most notably in Massachusetts and Connecticut which experienced a 78.1percentand 64.1percentincrease respectively. Across the board, median prices are up an average of 4.5 percent.”
In Connecticut, the number of total transactions is down -4.3percentyear-over-year and median price decreased -2.2percent. Pending sales were up 30.1percentyear-over-year.
Massachusetts showed a decrease of -6.6percentin total transactions year-over-year. The median price increased 9.7percent. Pending sales were up 36.3percentover March of 2013 – once again, the highest in the region.
In New Hampshire, home transactions decreased -8.4percentyear-over-year, and median price rose 5.7percent. Pending sales were up 7.1percentyear-over-year.
Rhode Island home transactions fell -2.0percent, while median price increased 7.9percent. Pending sales were up 1.3percentyear-over-year.
RE/MAX 4.14.2014