November price, sales increase
November showed another substantial month of growth in the New Hampshire residential housing market, with both unit sales and median price up ahead of last November, while pushing year to date numbers up to near-historically high levels as we approach year’s end.
Among the statewide highlights for single family homes:
- Median price: November 2017 was ahead of 2016 by more than 8 percent at $267,750 (compared to $247,000 last November). The $265,000 year to date (January through November) statewide median price is ahead of last year by better than 6 percent, and just $5,000 off the historical high point of the New Hampshire market – $270,000 in 2005.
- Unit sales: November 2017 showed 3 percent more residential sales than 2016 (1,440 to 1,399), and that leaves New Hampshire ahead of last year through 11 months and thereby on pace to beat last year’s historically high total of 17,567 by the end of the year.
- Days on market: The amount of time it takes to sell a single family home in New Hampshire continues to drop, as November saw an average of 68 days on the market, a 16 percent decrease from last year. The year to date average days on the market went from 83 through the first 11 months in 2016 to 68 in the same period this year, an 18 percent drop.
- 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 November was 3.4 months. This is the lowest November in at least 12 years and speaks to the continued sellers’ market.
- Year to date sales volume (total dollars exchanged in purchase of single family homes) is up 8 percent over year to date last year and represents the largest total for November, and year to date, 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 November 2017 report, click here.
- For statewide and county level data from 1998 to 2016, click here.
If you have questions, please contact Communications Director Dave Cummings at dave@nhar.com or 603-225-5549.