The RE/MAX of New England August Monthly Housing Report shows continued stability in the market with increasing sales in New England year-over-year and month-over-month. Overall, the number of units sold is up 20.0% year-over-year. Recently, we’ve reported increases in price for almost every state in New England; but, in August the median price was flat with an overall decrease of -0.2%. However, year-over-year, the number of pending sales is up on average 33.0%, with CT experiencing 48.1% growth followed by RI with an increase of 40.1% year-over-year.
“Inventory is a serious challenge for many buyers, giving sellers the upper hand,” commented Dan Breault, EVP/Regional Director of RE/MAX of New England. “Prices dipped as the summer came to a close, but sales throughout the fall should remain active due to favorable pricing.”