NH Real Estate market report from Fosters.com ~ home sales and prices are increasing BUT it is too soon to celebrate
N.H. home sales, prices increasing By Fosters.com
Sunday, July 18, 2010
Kevin Sperl/Staff photo Foundation work on a home site in the Lakes Region progresses in this 2006 file photo.
CONCORD — New Hampshire home sales and prices continued to increase in June, compared to June 2009, according to data released by the New Hampshire Association of Realtors.
The 1,289 statewide residential home sales in June 2010 marked a 10 percent increase over the 1,171 sold in June 2009, and the 5,284 homes sold over the first six months of this year represented an 18 percent increase over the same period in 2009.
The residential median price, meanwhile, was $229,000 in June of this year, a 2 percent increase from May 2009, and the median price of residential sales January-June 2010 was $216,000, 4 percent higher than the first six months of 2009.
And while those increases are indicative of an improved real estate market, NHAR President Monika McGillicuddy stressed a cautious approach, noting that a more accurate measurement will come later this year, once the homebuyer tax credit no longer has an impact on the data.
Many of the sales which closed in June still involved buyers who signed a contract prior to the April 30 tax credit deadline.
“What we know is that we’ve had year-over-year unit sales and median price increases in each of the first six months,” McGillicuddy said.
Year to date, Belknap County had an 18 percent increase in residential unit sales as of June. Rockingham had a 22.2 percent increase and Strafford had a 29.9 percent increase.
Belknap County’s median sale price year to date increased 3.9 percent; in Rockingham it went up 3.3 percent; and it went up 5.3 percent in Strafford.
Average days on the market for Rockingham County declined 4 percent year to date, and declined 18 percent in Strafford County. They increased 3 percent in Belknap County.
Condominiums sales, meanwhile, showed similar statewide improvement on both the sales and price side, with June unit sales ahead of June 2009 by 14 percent, and median price up by 6 percent during the same period.
Year to date (January-June), condominium unit sales have increased 28 percent statewide, while median price is up 3 percent.
McGillicuddy said she is hopeful that the recent upswing, coupled with low interest rates, competitive prices and relatively high inventory, will sustain consumer confidence and provide momentum in the market.
“We expect that the next three to six months will be very telling,” she said.
Contact Jay and Monika McGillicuddy, NH REALTORS
Jay and Monika McGillicuddy
Prudential Verani Realty
2 Main Street Hampstead NH
603-327-0246 direct line
603-434-2377 office
NH Real Estate Professionals Jay and Monika McGillicuddy
Jay and Monika McGillicuddy, covering southern NH and the Seacoast area. If you’re thinking of selling or buying a southern NH or Seacoast area home give us a call…we’d love to help make your home ownership dreams come true.
Jay and Monika McGillicuddy, NH REALTORS
603-944-9172 direct
E-mail Jay and Monika
Prudential Verani Realty
603-926-3648 office
About Monika McGillicuddy
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