The RE/MAX of New England July Monthly Housing Report shows an uptick of 22.7% in home sales year-over-year, and a 3.2% increase month-over-month across the region. In addition, pending home sales are up on average 28.9% over July 2012. Every state reported on in New England, except for Vermont, also experienced a decrease in available inventory year-over-year.
‘We are seeing home sales increase at double-digit rates above last year and falling inventory levels are slowly pushing prices up,’ commented Dan Breault, EVP/Regional Director of RE/MAX of New England. ‘Many homeowners are continuing to gain positive equity and are entertaining the idea of listing their home. There are active buyers in the market if you price your home right.’
About RE/MAX of New England and Integra Enterprises
Since its inception in 1985, RE/MAX of New England has grown to over 220 offices and 2,700 sales associates throughout Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island and Vermont, providing franchised residential and commercial real estate services to its franchisees and their real estate professionals.
Integra Enterprises Corporation is a privately held company headquartered in Toronto, Ontario, Canada. Integra is the largest sub-franchisor of Denver, Colorado based RE/MAX, LLC. Representing approximately 30 percent of RE/MAX worldwide with more than 27,000 agents, Integra operates RE/MAX regional headquarters in Massachusetts; Minnesota; Indiana; Toronto, Ontario, Canada; and Vienna, Austria. Integra’s proven operating model supports its membership with a highly accessible and responsive regional leadership team delivering proprietary business development, training, marketing, and event management services from each of its regional offices.
For more information about Integra Enterprises read the Integra brochure or to read more about RE/MAX of New England visit the RE/MAX of New England blog at www.remax-newengland.com and follow us on Twitter at @REMAXNE. RE/MAX is proud to help raise millions of dollars and support charitable organizations including Susan G. Komen for the Cure and Children’s Miracle Network Hospitals.
DEFINITIONS
Transactions are the total number of closed residential (Single Family and Condo) transactions during the given month. Month's Supply of Inventory is the total number of residential properties listed for sale at the end of the month (active inventory) divided by the number of sales contracts signed (pended) during the month. Days on Market is the number of days that pass from the time a property is listed until the property goes under contract for all residential properties sold during the month. Median Sales Price is the median price of all residential properties sold during the month.
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. Every month the RE/MAX of New England Housing Report re-calculates the previous period’s data to ensure accuracy over time. All raw data remains the intellectual property of each local MLS organization.