THE NEW HAMPSHIRE HOUSING MARKET IS HEATING UP
The first days of summer have arrived and the New Hampshire Housing Market is heating up. Inventory is still low in many areas throughout the state. In some markets it is common to see multiple offers within hours or a day after a home is listed with offer prices at or even above the asking price. It is anticipated that this trend will continue throughout the second quarter.
New Listings were down 18.6 percent for single family homes and 3.5 percent for condominiums. However, Pending Sales increased 11.7 percent for single family homes and 9.1 percent for Condominiums.
The Median Sales Price for single family homes was $246,250 which was up 1.5 percent. The Median Sales Price for condominium was $179,000, which was up 2.6 percent. Months supply of Inventory decreased 26.2 percent for single family units and 26.3 percent for condominium units.
It is difficult to predict the future. However, at this time interest rates have remained low and wages have increased which has resulted in an active real estate market. For Sellers, it may be a good time to consider selling given the need for additional inventory. For Buyers in market where there are multiple offers, it is important to be prepared.
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If you would like to know if it is a good time to buy or sell a home, please contact me and I will be happy to assist ~ 603-566-1715 cell 603-889-7600 x 9454 or email RealEstateAgentNH@gmail.com
Disclaimer: Information herein may come from various sources, some of which may not be reliable and may change without any notice. Joan Whitebook does not guarantee or is any way responsible for the accuracy of the information in this blog and information provided is without warranties of any kind, either express or implied. Information on this blog represents the opinions and ideas of the author; comments by others may not express the views of the author. Copyright © 2016 "New Hampshire Summer Housing Market is Heating Up" By Joan Whitebook, all rights reserved. Joan Whitebook, BHG, the Masiello group. 603.889.7600 x9454 or 603.566.1715.