The RE/MAX of New England March Monthly Housing Report shows an average year-over-year drop of -5.6% in sales across New England. However, pending sales rose 26.5% and median prices were up in every state except Connecticut. Month-over-month, the advent of the spring market inspired an uptick of 31.5% in home sales. “We expect to see stronger numbers each month as we get into the traditionally busy housing-market season,” said Dan Breault, EVP/Regional Director of RE/MAX of New England. “Month-over-month, pending sales are up an average of 64.1%, most notably in Massachusetts and Connecticut which experienced a 78.1% and 64.1% increase respectively. Across the board, median prices are up an average of 4.5%.”
New England States Overview:
· In Connecticut, the number of total
transactions is down -4.3% year-over-year and median price decreased -2.2%.
Pending sales were up 30.1% year-over-year.
· Massachusetts showed a decrease of -6.6%
in total transactions year-over-year. The median price increased 9.7%.
Pending sales were up 36.3% over March of 2013 – once again, the highest in the
· In New Hampshire, home transactions
decreased -8.4% year-over-year, and median price rose 5.7%. Pending sales were
up 7.1% year-over-year.
· Rhode Island home transactions fell
-2.0%, while median price increased 7.9%. Pending sales were up 1.3%
· Vermont showed a decrease in total
transactions, down -3.5%, while median price stayed level at $195,000
year-over-year. Pending sales were up 16.5% year-over-year.
· MLS data is currently not available in Maine
at this time.