The RE/MAX of New England January Monthly Housing Report shows that year-over-year, the number of unit sales in every state in New England, except Vermont, is slightly higher than January 2011. New Hampshire and Rhode Island experienced the highest change in units sold with an increase of 16.8 percent and 17.8 percent, respectively. While the number of transactions remain relatively flat, prices continue to dip in every state in New England.
“The slight uptick in sales is encouraging as it means buyers are active in the market, however, we are still trying to find a balance between buyer expectations and market realities when it comes to pricing,” says Jay Hummer, Executive Vice President, RE/MAX of New England.
Year-over-year home sales in Connecticut remained relatively flat, up just 0.7 percent, while the median price declined -12.2 percent.
Maine’s year-over-year home transactions were up 2.7 percent in January, while the median price declined just -2.3 percent.
Massachusetts experienced a small increase in year-over-year transactions, up 2.0 percent, while median price dipped just -3.3 percent.
New Hampshire experienced a 16.8 percent jump in year-over-year transactions, which was second only to Rhode Island.
Rhode Island experienced the largest jump in year-over-year transaction, up 17.8 percent, but the median price dropped -12.3 percent.
Vermont was the only New England state to experience a year-over-year decline in both transactions, down -2.4 percent, and median price, down -4.3 percent.
For more information, visit www.remax-newengland.com.