The real estate market continues to grow at a steady pace.  Nationwide through August, the volume of home sales crept up 0.8%, slightly higher than a year ago.  Sales peaked in June and the majority of the country inched backwards from there due to lack of inventory, states Lawrence Yun, National Association of Realtors Chief Economist.  In New Hampshire, sales are up 11.2% through August as compared to last year and the median sales price has increased 2.3% to $247,000.

Specific to our market, sales in New London jumped from 42 home sales in 2015 to 65 in 2016 (January-September) with a median sales price of $362k.  Sunapee sales are about the same with 42 sales in 2016 and 41 sales in 2015 and a median sales price of $260k.  Newbury sales increased from 44 home sales in 2015 to 55 sales in 2016 and the median sales price is $230k.

The long term outlook for the housing market is for moderate growth.  Experts predict home price appreciation up 4% by the end of 2016, 3.6% in 2017, and 3.2% in 2018.

The availability of move-in ready homes may hamper our market as sellers are hesitant to sell if they can't find a replacement home.  Buyers still prefer newer homes that do not need updating and are located close to amenities.  Overall, sales should continue to grow with moderate increases in price.  

Contact me if you'd like to know how our market impacts the value of your home!  603-526-4116, Donna@donnaforest.com, www.DonnaForest.com