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% year-over-year. Recently, RE/MAX 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%, with Conn. 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," said Dan Breault, executive vice president, 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."
Since its inception in 1985, RE/MAX of New England has grown to over 220 offices and 2,700 sales associates throughout Conn., Maine, Mass., New Hampshire, Rhode Island and Vermont, providing franchised residential and commercial real estate services to its franchisees and their real estate professionals. Integra Enterprises Corp. is a privately held company headquartered in Toronto, Ontario, Canada. Integra is the largest sub-franchisor of RE/MAX, LLC. Representing approximately 30% of RE/MAX worldwide with more than 27,000 agents, Integra operates RE/MAX regional headquarters in Mass., Minnesota, Indiana, Toronto, Ontario, Canada, and Vienna, Austria. Integra's proven operating model supports its membership with a highly accessible and responsive regional leadership team delivering proprietary business development, training, marketing, and event management services from each of its regional offices.