The RE/MAX of New England August Monthly Housing Report shows Vermont experienced a boost in both total transactions, up 32.2 percent (the highest in New England), and median price ($217,000), up 4.6 percent, year-over-year. Pending sales were up 26.2 percent year-over-year. Across New England, there was an uptick of 23.3 percent in home sales year-over-year, but a seasonal slowdown was reflected in the region in all but two of the states (Vermont and New Hampshire) month-over-month.
Overall, the RE/MAX Report shows that New England home sales are up over the same time last year, but are down month-over-month. Year-over-year, the number of homes sold are up 8.9 percent, but month-over-month are down 5.1 percent. Every state except Rhode Island and Connecticut reported a decrease in inventory over the previous month. Rhode Island experienced a 209.6 percent increase in inventory.
‘Year-over-year, home sales are still trending up while month-over-month activity shows the New England market slowing down a bit. This seasonal activity is normal as families settle in before school starts,’ said commented Dan Breault, EVP/Regional Director of RE/MAX of New England. ‘Our RE/MAX agents are reporting that they are incredibly busy due to low inventory levels, bidding wars and active buyers.’