According to the RE/MAX of New England February Monthly Housing Report, Vermont experienced a boost in total housing transactions, up 18.2 percent, while median price decreased -6.4 percent year-over-year. Pending sales were up 12.9 percent year-over-year.
Across the region, winter snowfall and frigid temperatures significantly impacted the housing market. The RE/MAX of New England February Monthly Housing Report shows a drop in sales, year-over-year, in every state in New England except Vermont. On average, median prices throughout New England were up 1.3 percent in 2014 and pending sales rose to 28.3 percent.
“This is an expected trend in the height of the winter months,” said Dan Breault, EVP/Regional Director of RE/MAX of New England. “The good news is that month-over-month pending sales are up 26.4 percent. This is an encouraging sign and I anticipate March and April to be even stronger months as we turn the corner from winter to spring.”
The RE/MAX of New England February Monthly Housing Report shows pending home sales are up on average 28.3 percent over February 2013. Inventory in every state except New Hampshire and Vermont shows a decrease year-over-year. Overall home sales show decreases month-over-month, an expected trend for this time of the year.
In Connecticut, the number of total transactions is down -2.9 percent year-over-year, while the median price rose 2.1 percent. Pending sales were up 30.1 percent year-over-year.
Massachusetts showed a decrease of -4.4 percent in total transactions year-over-year. The median price increased 5.6 percent. Pending sales were up 40.4 percent over February of 2013 – again, the highest in the region.
In New Hampshire, home transactions decreased -6.5 percent year-over-year, and median price rose 5.6 percent. Pending sales were up 6.0 percent year-over-year.
Rhode Island home transactions fell -7.9 percent, while median price dipped slightly at -1.3 percent. Pending sales were up 2.7 percent year-over-year.