A strong sellers’ market continues after a first quarter in which New Hampshire price increased, sales decreased, and inventory dropped dramatically.
Among the highlights:
- Closed sales: The 1,083 March residential sales were just four off the sales pace of March 2016 and represented the second-most in the month in more than a decade. First quarter sales (2,747) were down by 3.4 percent from a year ago, but still a substantial uptick from first quarter 2015.
- Median sales price: At $244,900, it was the highest priced March since 2007 and a 4.2 percent increase from March 2016. The first quarter saw a 5.6 percent increase year over year, to $245,000 in 2017.
- Inventory numbers are the lowest in NHAR’s recording period, dating back to 2005.
- The number of residential homes for sale at the end of March was 4,902, a 32 percent drop from a year ago. By comparison, there were roughly 12,000 for sale at the end of March 2010.
- Months supply, meaning the number of months it would take to sell off the current inventory at the current sales pace, is at 3.3 months, a 35 percent drop from just a year ago. There was nearly 17 months supply in 2009.