Vermont Business Magazine RE/MAX INTEGRA, New England today released its 2018 HMO Report that shows Vermont showed strong gains in home values with a balanced market anticipated heading into 2019. Vermont had the highest increase in total properties sold in New England, up over 9% to 921 from 843 compared to this time last year. It also had one of the highest decreases in average days on market in New England, down almost 14% to 104 days from 120 days last year. With strong gains in home values and a balanced market anticipated heading into 2019, agents are keeping an eye on the national economy, possible increases in interest rates, and the national real estate market.
The annual report evaluated data from most regions across Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island and Vermont, looking at pricing, volume, and general trends in residential real estate. Maine had the highest hike in price as 12.12 percent. Connecticut saw the biggest drop in price at -4.19 percent. Rhode Island had the biggest drop in homes sold, -6.38 percent. DOM fell in all markets.
Other highlights regarding Vermont in this year’s report include:
- Vermont saw an increase in average sales price of 4.47%from $265,466 to $277,334 year over year
- Southern Vermont had the highest increase in average sales price, up over 18% to $317,275, while Central Vermont saw the largest, albeit slight decline in average sales price in Vermont, down just 1.67% from $293,523 to $288,615 year over year
- The Islands region saw a steep decline in average days on market in Vermont, down over 22% to 64 days
- Overall properties sold in Vermont are up 12% to 921 properties
All data was sourced from RE/MAX brokers and real estate transactions reported in the Multiple Listing Service and RE Stats. Data from 2017 encompasses January 1, 2017 to October 31, 2017 and 2018 data encompasses January 1, 2018 to October 31, 2018.
NEW ENGLAND – December 20, 2018 – RE/MAX INTEGRA