New Hampshire Real Estate Market looks Great for 2015

    The New Hampshire Real Estate Market Continued on the Road to Recovery in 2014.

      The New Hampshire real estate market in 2014 indicated that the real estate market is beginning to stabilize.

      While 2013 was a year in which the most New Hampshire homes were sold since 2005 (14,267), the market barely missed that mark (14,208) in 2014 with a .4 percent drop.

     The median price of a home in New Hampshire increased to $227,500 for the 2014, which was more than 3 percent increase from the previous year and it marked the third consecutive year of price gains.

      Sales volume, meaning the total dollars exchanged in those residential transactions, was  5 percent higher in 2014 than in 2013.

     The December-only numbers indicated an 11 percent increase in New Hampshire residential sales, a 3 percent increase in median sales price and a 17 percent in sales volume.

     The median price is still significantly below the 2005 peak of $270,000.  This has been good news for buyers who found homes were still at affordable lebls.

      The average days on the market dropped 5 percent in 2014 (10 percent in December), to an average of 95 days, while pending sales (a forward-looking indicator based on accepted offers)  was ahead by  0.1 percent for the year and 14 percent in December only.

     The months’ supply, which measures the number of months it would take to sell off the current inventory of homes at the average pace of sales of the last 12 months, decreased by 12 percent in December, from 8.2 (in 2013) to 7.2 months (in 2014). Typically, months’ supply between 6 and 8 percent is considered a balanced market, with higher supply pointing to a buyers’ market and less supply to a sellers’ market.

     Another indicator of continuing recovery in the New Hampshire Real Estate market was the increase in new listings, which was better than 8 percent ahead of the previous year in December.

      Eight out of 10 counties in New Hampshire saw residential unit sales increases in 2014, with only Merrimack and Sullivan counties experiencing a drop.  On the median price side, 5 out of 10 counties increased in 2014.

     Condominium sales in New Hampshire, meanwhile, trended similarly in 2014.  The closed condominium sales were slightly ahead (0.3 percent) of the previous year and median price ($168,000) was more than 4 percent ahead.  The sales volume saw a 5 percent increase.

     December-only numbers for condominium sales saw a 7 percent increase in sales, a 3 percent drop in median price and an 11 percent increase in sales volume.