REGIONAL SPOTLIGHT—New England is transitioning into the winter sales season, and as such, sales were largely flat across the region for the month of October. The following is a summary of RE/MAX of New England’s regional state summary:
• Connecticut experienced a 7% decline in units sold. Median price also took a hit, dropping 11.6%.
• Maine was the only state to see gains in both units sold, up 5.9%, and median price, up just 0.3%.
• Massachusetts experienced modest declines in both units sold, down 2.4%, and median price, down 4.3%.
• A 7% decline in median price helped fuel a 10.8% surge in home sales in New Hampshire.
• Rhode Island was the exception to the rule, as home sales spiked 20.1%. This was fueled, in part, by a 16.5% drop in median price.
• Vermont experienced the largest decline in units sold, down 7.8%. Median price also declined 4.5%.
RE/MAX of New England Executive Vice President Jay Hummer says this trend is expected as many buyers and sellers hibernate for the winter, but he adds that winter is the perfect opportunity for first-time and investment buyers to find a great deal.
For more information, listen to the RE/MAX of New England podcast here.
