ALTON NH REAL ESTATE | HOME SALES REPORT: Q2 - 2016

ALTON, NH Real Estate | Home Sales Report: Q2-2016  - Alton 2nd quarter home sales rose 48% year over year on 37 transactions with a sales volume of $19.4 million, sharply up 55% compared to the same period last year.

Year-to-date, meanwhile, Alton home sales stayed solidly in the black, up 33% from a year ago with 57 closed transactions compared to 43 last year.  Sales volume for the year ending June 30 was up 43% to $26.1 million.

The median price of an Alton home followed suit, rising 30% in the 2nd quarter to $325,000 against a sales average of $525,000.  More than a third of all Q2 sales were above $500,000. The median price of an Alton home at the close of June sold stood at $292,000, up 18% from a year ago.

The median price is the middle value of all recorded sales.  Over time, median price indicates how housing markets are trending.

Second quarter new listings meanwhile fell from 112 to 72,  a 36% decline compared to 2015 and 18% down for the year.  Fewer listings coupled with sales growth suggest a market whose supply of homes is shrinking.  Alton's housing inventory was at 7.3 months at the end of Q2, a market supply considered by many to be in balance.  Most experts agree that housing markets with between 5-6.5 months of supply are in equilibrium, favoring sellers as supply trends lower and buyers when supply paces ahead of demand.

As of June 30, 91 homes were available for sale in Alton with a median asking price of $379,000 and an across-the-board sale probability of 53%.  Median days on market among homes for sale at the close of Q2 stood at 111 days, with an average of 213 days on market.

Homes sold in the 2nd quarter closed in 102 days on average,  down 27% from a year ago.  For the six months ending June 30, Alton homes sold on average 32% faster than in the first six months of 2015, from 168 days a year ago to 114 days this year.

HERE ARE THE RELEVANT NUMBERS*:

SINGLE FAMILY:    Q2 YoY (2016-15)       |     YTD YoY (2016-15)

New Listings:            72/112 (-35.71%)         |      120/146 (-17.80%)

Sold Listings:             37/25 (+48.00%)          |      57/43 (+32.55%)

Pending Listings:      27/18 (+50.00%)          |      37/27 (+37.03%)

$ Vol. (millions):        19.4/12.5 (+54.83%)   |      26.1/18.2 (+42.99%)

Median List Price:     325/260 (-25.04%)      |      300/260 (+15.39%) 

Median Sell Price:     325/251 (+29.74%)     |      292/248(+17.80%)

Ave. Days on Mkt.      102/1140 (-26.93%)    |     114/168 (-31.84%)

* Based on information from the New England Real Estate Network, Inc., for the periods shown.

Do you know what your home is worth in today's real estate market?  If you've been thinking of selling your home, contact me and ask for my free personalized market report before you list your home for sale. It will show you how your home stacks up next to the competition.  Get the highest possible price for your home in the shortest amount of time and with the least amount of inconvenience.  Randy Hilman Homes can help.  Call us today.