May 2012 market data
NEW HAMPSHIRE HOME SALES CONTINUE TO CLIMB
New Hampshire real estate market data for the 1st quarter was released by the New Hampshire Association of Realtors® (NHAR) shows home sales increased by the most April transactions since 2006.
Recently released statistics of existing home sales (completed transactions which includes single family homes, townhouses, and condominiums) showed a 21% increase in sales for April 2012 compared to April 2011.
In Hillsborough County there were 852 residential sales compared to 705 a year ago and 268 condominium sales compared to 243 sales in 2011. Statewide there were 3,207 residential sales compared to 2,714 and 779 condominium sales compared to 715 sales in 2011. With an 18% increase in year to date sales compared to last year, there are signs that New Hampshire’s housing market is at the start of an uphill climb.
In Hillsborough the Median sales price of residential sales in April of 2011 was $219,500 compared to $210,000 in 2012 and condominium sales were $147,000 in 2011 compared to $129,500 a year ago. Statewide Median home sales price for April 2011 was $199,900 compared to $190,000 in 2012. Pricing is a little bit behind because of market factors but once we begin to see inventory going down, housing prices will start going up.
It is encouraging to see the signs that the housing market is recovering yet it is still too soon to predict a major turnaround. Whether it is new buyers or 1st or 2nd home sales, the overall New Hampshire sales projections for 2012 look very promising. In the meantime opportunity waits in the marketplace; there really has never been a better time to buy.
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