Prices Up, Inventory Continues to be the Story
Market news from New Hampshire REALTORS:
A strong sellers' market continues after a first quarter in which New Hampshire price increased, sales decreased, and inventory dropped dramatically.
Among the highlights:
- Closed sales: The 1,083 March residential sales were just four off the sales pace of March 2016 and represented the second-most in the month in more than a decade. First quarter sales (2,747) were down by 3.4 percent from a year ago, but still a substantial uptick from first quarter 2015.
- Median sales price: At $244,900, it was the highest priced March since 2007 and a 4.2 percent increase from March 2016. The first quarter saw a 5.6 percent increase year over year, to $245,000 in 2017.
- Inventory numbers are the lowest in NHAR's recording period, dating back to 2005.
- The number of residential homes for sale at the end of March was 4,902, a 32 percent drop from a year ago. By comparison, there were roughly 12,000 for sale at the end of March 2010.
- Months supply, meaning the number of months it would take to sell off the current inventory at the current sales pace, is at 3.3 months, a 35 percent drop from just a year ago. There was nearly 17 months supply in 2009.
There's plenty more information where that came from. The New Hampshire REALTORS market report includes 10 different categories and historical data going back to 2006, as well as county-level data. Also included below is the long-term statewide data, dating back to 1998.
- For the complete March 2017 report, click here.
- For the first quarter 2017 report, click here.
- For past monthly reports, click here.
- For statewide and county level data from 1998 to 2016, click here.
If you have questions, please contact NHAR Communications Director Dave Cummings at dave@nhar.com or 603-225-5549.