The New Hampshire residential housing market saw its most February sales in more than a decade this year, as 816 homes were sold in the month –more than a 27 percent increase over last year’s 641 sales and the most since 843 sales in February 2002.

The median sales price in February, meanwhile, dropped just over 2 percent, but year to date the residential market’s median price is a shade ahead of last year, $225,000 compared to $224,900 through the first two months.

Overall sales volume, meaning the total dollars exchanged in February residential sales, was ahead of February 2015

by 25 percent.

“We finished a strong 2015 with robust sales, and the market hasn’t seemed to have lost a step,” said NHAR President Al Michalovic, a broker with Four Season’s Sotheby’s International Realty in Hanover and a 30 year veteran of the real estate industry. “Just when inventory appears to be drying up a bit due to the large number of sales, we seem to have another strong stretch of new listings to replenish the market.”

As evidence, the months’ supply of inventory, meaning the amount of time it would take to sell off all the homes on the market based on the average pace of sales for the previous year, dropped to more than a 10 year low of

5.9 months at the end of February, indicating a sellers’ market. Yet simultaneously, new listings in February

were 28 percent higher than a year ago.“The bottom line,” Michalovic said, “is that it’s an active market out there all around.”

The condominium market is also experiencing continued increases in early 2016, with closed sales ahead of 2015 by 20 percent in February and 8 percent year to date. Median sales price is still rising as well in the condo market, up 6.6 percent in February and over 4 percent for the first two months combined.

And the condominium market is favoring sellers even more dramatically than the residential side, with a 4.9 months’ supply of inventory. But similar to residences, new listings of condos were substantially ahead of a year ago, increasing in February 2016 by over 38 percent.

Locally,all 10 New Hampshire counties saw residential unit sales increases in February 2016 compared to 2015,

and likewise all 10 counties are ahead of 2015 year to date.  Five counties are ahead of the February 2015 median price, while six have seen increases year to date.  February 2016 market data.

Teamwork from the Team that works – Coldwell Banker Milestone Real Estate.