January 10, 2018
Record Year for NH Housing Market
Submitted by Dave Cummings, Communications Director NH REALTORS
December’s New Hampshire residential home sales continued a multi-year trend of monthly increases, leading to the largest annual number of home sales in New Hampshire history and a median price level not seen since the 2005 price peak.
Among the statewide highlights for single family homes:
- Median price: December 2017 was ahead of 2016 by more than 8 percent at $271,000 (compared to $250,000 last December). The $266,000 year-end statewide median price is the second highest in New Hampshire history, 6.5 percent ahead of last year, and just $4,000 off the historical high point of the New Hampshire market – $270,000 in 2005.
- Unit sales: December 2017 showed 2 percent more residential sales than 2016 (1,318 to 1,292), and that leaves New Hampshire at year’s end a shade ahead of the 2016 record-setting year, with 17,733 sales in 2017.
- Days on market: The amount of time it took to sell a single family home in New Hampshire continued to drop to an average of 75 days in December, leaving the year-end DOM number at 68, a resounding 18 percent fewer days than last year’s year-end average.
- Months’ supply (the amount of time it would take to sell off the current inventory at the average pace of sales, if nothing else came on the market) at the end of December was a shade under 3 percent, a 26 percent drop from last year and continued evidence of the sellers’ market.
- Year to date sales volume (total dollars exchanged in purchase of single family homes) was up nearly 10 percent in December and finished the year ahead of 2016 by 7 percent at 5.5 billion in closed residential sales. It’s the largest volume of sales in New Hampshire history.
The New Hampshire REALTORS market report includes 10 different categories and historical data going back to 2006, as well as county-level data. Also included below is the long-term statewide data, dating back to 1998.
- For the complete December and year-end 2017 report, click here.
- For the newly released statewide and county level data from 1998 to 2017, click here.