RE/MAX Reports 6.6 Increase in Pending RI Home Sales for July
Monday, August 18, 2014
GoLocalProv Real Estate Team
Pending home sales in New England are up 41.9 percent over July 2013, and 6.6 percent in Rhode Island during the time frame, according to the RE/MAX of New England Housing Report for July 2014.
In Rhode Island, home transactions fell -4.2 percent, while median price increased 1.8 percent.
Over all in the region, year-over-year sales decreased -3.6%. Month-over-month, the picture is similar with home sales down -2.3% and pending sales up 8.4%. Across the region, homes are staying on the market an average of 3 fewer days YOY, while median price is up 1.2%.
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Overview for other New England states
· Massachusetts showed a decrease of -5.6% in total transactions year-over-year. The median price increased 3.1%. Pending sales were up 77.8% over July of 2013 – once again, the highest in the region.
· In New Hampshire, home transactions decreased -0.1% year-over-year, and median price remained flat. Pending sales were up 11.3% year-over-year.
· Vermont showed an increase in total transactions, up 4.3%, while median price increased 1.4% year-over-year. Pending sales were up 7.2% year-over-year.
· In Connecticut, the number of total transactions is down -2.4% year-over-year and median price declined -0.7% Pending sales were up 24.4% year-over-year.
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