Vermont Business Magazine Vermont continues to see brisk home sales, including the region's highest increase, but prices have not seen the same supply-and-demand effect, with the median price down nearly 7 percent. Median home price slipped below $200,000 to second lowest in the region behind only Maine. Overall in New England, the summer residential market in New England remained strong throughout August, with all six states seeing growth in sales year-over-year. Throughout the region, pending sales were up over 16 percent, while average days on market decreased by 10 percent.Month-over-month, all six states experienced a decrease in units sold and slight decrease in median price. However, sales were up 8.9 percent in the region and there was a modest increase in median price over August 2014.
“We had an extremely active summer season, given the late start after such a persistent winter season,” said Dan Breault, EVP/Regional Director of RE/MAX INTEGRA, New England. “Current months supply of inventory, along with a dip in units sold, suggests buyers are feeling fatigued following a particularly active period in the market.”
Year-over-year sales increased by 8.9% according to TheRE/MAX INTEGRA, New England August Monthly Housing Report. Pending sales were up 16.1% over August 2014.
·In Connecticut, the number of total transactions were up 6.8% year-over-year while median price decreased 4.4%. Pending sales were up 16.7% year-over-year.
·Massachusetts showed an increase of 9.2% in total transactions year-over-year. The median price was up 4.4%. Pending sales were up 12.4% over August 2014.
·Maine showed an increase of 6.5%in total transactions year-over-year. The median price increased 4.4% and pending sales were up 27.4%,the second highest in New England behind Rhode Island.
·In New Hampshire, home transactions increased 11.0% year-over-year, and median price increased 2.3%. Pending sales were up 7.1% year-over-year.
·Rhode Island home transactions increased 12.9% year-over-year,the second highest increase in New England, while median price increased 5.9%.Pending sales were up 30.4% year-over-year, once again the highest in New England.
·Vermont home transactions were up 13.4% year-over-year,the highest in New England,while median price decreased 6.9% year-over-year. Pending sales were up 9.9% 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 thespecified time period.MLS data is provided by contracted data aggregators, RE/MAX brokeragesand regional offices. While MLS data is believed to be accurate, it cannot beguaranteed. MLS data is constantly being updated, making any analysis asnapshot at a particular time. All raw data remains the intellectual property of eachlocal MLS organization.
Source: © Copyright 2015 RE/MAX INTEGRA, New England