New England RE/MAX INTEGRA recently released its 2018 HMO Report that shows Vermont showed strong gains in home values with a balanced market anticipated heading into 2019. Agents are keeping an eye on the national economy, anticipated increases in interest rates as well as the national real estate market. The annual report evaluated data from most regions across Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island and Vermont, looking at pricing, volume, and general trends in residential real estate.
Other highlights regarding Vermont in this year’s report include:
Vermont saw an increase in average sales price of 4.47 percent from $265,466 to $277,334 year over year
Southern Vermont had the highest increase in average sales price, up over 18 percent to $317,275, while Central Vermont saw the largest, albeit slight decline in average sales price in Vermont, down just 1.67 percent from $293,523 to $288,615 year over year
The Islands region saw a steep decline in average days on market in Vermont, down over 22 percent to 64 days
Overall properties sold in Vermont are up 12 percent to 921 properties
“As the New England markets start to shift, our agents work hard to stay informed and ensure they are the best resource for their clients,” said Executive Vice President & Managing Director of U.S. Operations Fiona Petrie. “We strive to understand exactly what is going on in our local and general markets so our clients know they are equipped to make informed decisions, whether they are buying or selling.”
All data was sourced from RE/MAX brokers and real estate transactions reported in the Multiple Listing Service. Data from 2017 encompasses Jan. 1, 2017, to Oct. 31, 2017 and 2018, data encompasses Jan. 1, 2018 to Oct. 31, 2018.