Home prices in Vermont down from last year

The RE/MAX of New England May Monthly Housing Report indicates that the Vermont median home price dipped slightly -2.3 percent year-over-year but experienced a boost in total transactions, up 7.9 percent. Across the region house sales are up both month-over-month and year-over-year. Rhode Island had the largest increase in New England, up 31.3 percent month-over-month and 35.2 percent year-over-year. Connecticut and New Hampshire also experienced double-digit growth both month-over-month and year-over-year. Overall, median price increased 3.4 percent and pending sales are up 61.5 percent year-over-year.
‘Inventory continues to wane as activity in the market increases,’commented Dan Breault, EVP/Regional Director of RE/MAX of New England. ‘With increased competition, low inventory, and competitive mortgage rates, home sales are anticipated to remain strong throughout the summer.’