WOLFEBORO, NH Real Estate | Home Sales Report: Q2-2016 - Wolfeboro 2nd quarter home sales declined 8% year over year on 35 transactions with a sales volume of $17.7 million, virtually unchanged from the same period last year.
Year-to-date, meanwhile, Wolfeboro home sales managed to stay in the black, up 3% from a year ago with 61 closed transactions compared to 59 last year. Sales volume for the year ending June 30 was up 14% to $28.7 million.
The median price of a Wolfeboro home rose 19% in the 2nd quarter to $270,000 against a sales average of $505,000. Twenty percent of all Q2 sales closed above $500,000. YTD, the median price of a Wolfeboro home stood at $279,000, up 14% 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 39% to 77 single family homes compared to the 127 homes listed for sale in 2015. New listings were down 25% for the year. Compared to many surrounding communities, Wolfeboro, with its 11.2-month supply of houses, had one of the largest housing inventories of any community in the Lakes Region. 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, 135 homes were available for sale in Wolfeboro with a median asking price of $280,000 and an across-the-board sale probability of 50%. Median days on market among homes for sale at the close of Q2 stood at 132 days. The average was 220 days on market.
Homes selling during the 2nd quarter were on the market an average of 220 days, up 12% from a year earlier. For the six months ending June 30, Wolfeboro homes sold on average 11% slower than they did during the first six months of 2015, from 182 days on market a year ago to 203 days this year.
HERE ARE THE RELEVANT NUMBERS*:
SINGLE FAMILY: Q2 YoY (2016-15) | YTD YoY (2016-15)
New Listings: 77/127 (-39.37%) | 123/164 (-25.00%)
Sold Listings: 35/38 (+07.89%) | 61/59 (+03.38%)
Pending Listings: 33/28 (+17.85%) | 50/46 (+08.69%)
$ Vol. (millions): 17.7/17.8 (-00.82%) | 28.7/25.2 (+13.87%)
Median List Price: 280/235 (-19.13%) | 299/250 (+19.64%)
Median Sell Price: 270/227 (+19.07%) | 279/245 (+13.87%)
Ave. Days on Mkt. 220/196 (+12.02%) | 203/182 (+11.22%)
* Based on information from the New England Real Estate Network, Inc., for the periods shown.
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