GILFORD, NH Real Estate | Home Sales Report: Q2-2016 - Gilford 2nd quarter home sales rose 8% year over year on 41 transactions with a sales volume of $11 million, sharply down 43% compared to the same period last year.
Year-to-date, meanwhile, Gilford home sales stayed in the black, up 16% from a year ago with 66 closed transactions compared to 58 last year. Sales volume for the year ending June 30 was down 20% to $21.2 million.
While sales units rose and dollar volume declined substantially in Q2 and YTD, the median price of a Gilford home fell a significant 26% in the 2nd quarter to $212,000 against average sales of $271,000, a figure suggesting a fairly even price distribution across the homes sold spectrum. At the close of June, the YTD median price of a Gilford home sold stood at $218,000, down 22% % 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.
New listings fell 20% in the 2nd quarter, from 109 to 87, compared to 2015 but were down less than 2% for the year. Fewer listings coupled with sales growth suggest a market whose supply of homes is shrinking. Gilford's housing inventory at the close of Q2 stood at a 9.3 months supply of houses currently available for sale, a figure suggesting the Gilford housing market may still favor buyers. Most experts agree that housing markets with inventories between 5-8 months are in equilibrium, favoring sellers as supply shrinks and buyers when supply grows ahead of demand.
As of June 30, 113 homes were available for sale in Gilford with a median asking price of $350,000 and an across-the-board sale probability of 41%. Median days on market among homes for sale at the close of Q2 stood at 96 days, with an average of 145 days on market.
Homes sold in the 2nd quarter closed in 99 days on average, down 26% from a year ago. For the six months ending June 30, Gilford homes sold 38% faster on average than in the first six months of 2015, from 150 days a year ago to 93 days this year.
HERE ARE THE RELEVANT NUMBERS*:
SINGLE FAMILY: Q2 YoY (2016-15) | YTD YoY (2016-15)
New Listings: 87/109 (-20.18%) | 158/161 (-01.86%)
Sold Listings: 41/38 (+07.89%) | 66/57 (+15.78%)
Pending Listings: 20/22 (-09.09%) | 38/35 (+08.57%)
$ Vol. (millions): 11.1/19.4 (-42.86%) | 21.2/26.6 (+20.34%)
Median List Price: 226/289 (-21.92%) | 229/298 (-23.12%)
Median Sell Price: 212/285 (-25.60%) | 218/280,750 (-22.29%)
Ave. Days on Mkt. 99/132 (-25.62%) | 93/150 (-38.14%)
* Based on information from the New England Real Estate Network, Inc., for the periods shown.
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