Regional Spotlight—Results from the recent RE/MAX of New England April Monthly Housing Report suggest that we are currently in a seller’s market. This is evident by the fact that both median price and number of homes sold across New England has increased from the same time last year.
The report shows that:
In Connecticut, the number of total transactions is up 13.4 percent year-over-year, and the median price is also up 5.7 percent.
• Massachusetts experienced a 3.3 percent increase in total transactions year-over-year. The median price of homes has also increased 8.7 percent.
• In New Hampshire, home transactions increased 7.9 percent year-over-year. The median price also increased 8.3 percent.
• Rhode Island posted impressive year-over-year gains in total home transactions in New England, up 23.4 percent.
• Vermont also experienced a healthy bump in both total transactions, up 24.1 percent, and median price, up 6.3 percent, year-over-year.
RE/MAX of New England Executive Vice President and Regional Director Dan Breault says buyers need to put their best offers in if they want the house of their dreams. With increased competition, low inventory, and competitive mortgage rates, home sales are anticipated to remain strong throughout the summer.
For more information, visit www.remax-newengland.com.