Vermont Business MagazineReal estate sales in Vermont have continued a trend dating back to late winter withvigorous sales in June with only a modest increase in average prices. Saleshave rebounded since the great recession while prices have lagged in catching up, despite a greatly reduced number of foreclosures. Sales are also up following another harsh winter, which saw depressed activity. According to TheRE/MAX INTEGRA, New England June Monthly Housing Report,Vermont home transactions were up 20.8 percent year-over-year – the highest in New England, while median price increased 4.1 percentyear-over-year. Pending sales were up 13.3 percent year-over-year.
Across New England, the summer housing market is in full swing, with 20,335 recorded sales in June, pending sales up 21.6%, and sales up 12.3% year-over-year.Month-over-month, heightened consumer confidence and demand led to a 34.4% increase in sales, a 5.7% increase in median sale price and a 7.1% increase in pending sales. Massachusetts led this growth with a 46% increase in sales, while median prices in the state were up 7.5%.
“The New England housing market continues to thrive during the peak summer season,” said Dan Breault, EVP/Regional Director of RE/MAX INTEGRA, New England. “Sales and pending sales have continued to increase each month since March of this year, while homes are moving off the market quicker than the previous month.”
·In Connecticut, the number of total transactions were up 11.7% year-over-year while median price decreased 0.7%. Pending sales were up 28.0% year-over-year.
·Massachusetts showed an increase of 10.2% in total transactions year-over-year. The median price was up 2.1%. Pending sales were up 17.3% over June 2014.
·Maine showed an increase of 18.8%in total transactions year-over-year. The median price increased 2.7% and pending sales were up 28.4%,the second highest percentage increase in New England, behind Rhode Island.
·In New Hampshire, home transactions increased 13.3% year-over-year, and median price increased 5.3%. Pending sales were up 9.8% year-over-year.
·Rhode Island home transactions increased 12.9% year-over-year, while median price increased 4.2%. Pending sales were up 30.3% year-over-year, once again the highest in New England.