NEW: Rhode Island Home Sales Up 34% in RE/MAX of NE July Report
Monday, August 19, 2013
Overall, 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.
“We are seeing home sales increase at double-digit rates above last year and falling inventory levels are slowly pushing prices up,” said 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.”
Every state reported on in New England, except for Vermont, also experienced a decrease in available inventory year-over-year.
New England outlook
Massachusetts experienced an uptick of 20.7% in total home sales and transactions year-over-year. The median price increased 6.5%, the second highest increase in the region behind New Hampshire. Pending sales were up 16.3% over July of 2012.
In Connecticut, the number of total transactions is up 22.5% year-over-year, while the median price is up 1.1%. Connecticut led all of New England in pending sales – up a staggering 50.6% year-over-year.
In New Hampshire, home transactions increased 23.2% year-over-year, while the median price jumped 10.4% - the largest price increase in New England behind Massachusetts. Pending sales were up 28.3%.
Vermont experienced a boost in both total transactions, up 25.6% (second highest transaction % in New England behind RI), and median price, up 1.4%, year-over-year. Pending sales were up 32.4% year-over-year.
MLS data is currently not available in Maine.
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