Sellers Can Still Do Their Happy Dance!
The real estate market is still going strong and it continues to be a seller's market; mainly due to the lack of inventory. The NH Association of Realtors (NHAR) most recent data for the first 6 months shows the median sales price is now at $295,750, which is up 5.6% from the same time period in 2018. The volume of sales is down 3% from last year; again most likely because there are fewer homes to sell. On a more local level, there have been 88 home sales in New London, Newbury, and Sunapee combined in the first 6 months as compared to 69 sales last year. Currently the median selling price is $348,750 while in 2018 it was $350,000. Homes are selling quicker this year with an average of 90 days on market versus 141 days in 2018. While the last 2 years have seen 6+% appreciation, the projected home price gains according to some of the industry's most reliable sources range from 2.8% (NHAR) to 4.6% (Fannie Mae). Every source expects prices to continue to grow which is good news for the market. The stepest increase is through 2019 and should moderate going forward. Contact me if you want to know how the market impacts you! Donna@DonnaForest.com, 603-526-4116, www.DonnaForest.com
Figures are based on information from the Northern New England Real Estate Network, Inc. for the period 1/1/18 - 7/1/18 & 1/1/19-7/1/19