Vermont home sales have been steadily rising over the last several months, but prices have actually gone down. In October, prices rebounded somewhat and were up over the same time last year. Meanwhile across the region, the residential market in New England year-over-year sales increased by 3.8 percent, according to The RE/MAX INTEGRA, New England October Monthly Housing Report. Pending sales were up 12.3 percent over October 2014 (Vermont 11.7 percent) while average days on market decreased by nearly 11 percent (Vermont nearly 14 percent). Vermont still had the highest DOM at 153. On a year-to-year basis, Vermont median homes sale prices were up $6,500 to $196,500 (3.4 percent).
Month-over-month, the market followed traditional seasonal trends with a 6.6 percent decrease in sales and slight decreases in median price and pending sales.
“There was little movement in the October market other than typical season declines in units & inventory,” said Dan Breault, EVP/Regional Director of RE/MAX INTEGRA, New England. “We’re seeing a strong market even as we move into the slower season.”
· In Connecticut, the number of total transactions were up 0.8% year-over-year while median price increased 3.1%. Pending sales were up 13.5% year-over-year.
· Maine showed a decrease of 1.1% in total transactions year-over-year. The median price increased 6.5% and pending sales were up 14.9%, the second highest in New England.
· Massachusetts showed an increase of 6.2% in total transactions year-over-year. The median price was up 4.0%. Pending sales were up 11.6% over October 2014.
· In New Hampshire, home transactions increased 8.8% year-over-year, once again the highest in New England, and median price increased 2.7%. Pending sales were down 6.6% year-over-year.
· Rhode Island home transactions increased 4.6% year-over-year, while median price decreased 0.4%. Pending sales were up 28.3% year-over-year, once again the highest in New England.
· Vermont home transactions were up 1.9% year-over-year, while median price increased 3.4% year-over-year. Pending sales were up 11.7% year-over-year.
Transactions are the total number of closed residential (Single Family and Condo) transactions during the given month. Median Sales Price is the median price of all specified properties sold during the specified time period. MLS data is provided by contracted data aggregators, RE/MAX brokerages and regional offices. While MLS data is believed to be accurate, it cannot be guaranteed. MLS data is constantly being updated, making any analysis a snapshot at a particular time. All raw data remains the intellectual property of each local MLS organization.
Source: RE/MAX 11.18.2015