Neighbor News
RE/MAX INTEGRA, New England August housing report
Year-over-year sales increased by 8.9%, and pending sales were up 16.1% over August 2014.
The summer residential market in New England remained strong throughout August, with all six states seeing growth in sales year-over-year. Throughout the region, pending sales were up over 16%, while average days on market decreased by 10%.
Month-over-month, all six states experienced a decrease in units sold and slight decrease in median price. However, sales were up 8.9% in the region and there was a modest increase in median price over August 2014.
Rhode Island home transactions increased 12.9% year-over-year, the second highest increase in New England, while median price increased 5.9%. Pending sales were up 30.4% year-over-year, once again the highest in New England.
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“We had an extremely active summer season, given the late start after such a persistent winter season,” said Dan Breault, EVP/Regional Director of RE/MAX INTEGRA, New England. “Current months supply of inventory, along with a dip in units sold, suggests buyers are feeling fatigued following a particularly active period in the market.
