Per the NH Association of REALTORS, market conditions remain the same: Seller’s market, low inventory and prices on the rise.
Among the statewide highlights:
- Inventory: There were 5,982 residential homes on the market at the end of May, a 27 percent decrease from May 2016. That meant a 4.1 months’ supply, the lowest May in at least 12 years and 28 percent lower than a year ago. The good news: 3,130 new listings came to the market in May, a 5 percent increase from 2016.
- Closed sales: With substantially less inventory, it’s no surprise that the 1,612 closed sales was 4 percent lower than May 2016. On the other hand, condo sales were actually up in May, with a 9 percent increase over a year earlier.
- Median sales price: Sellers continue to have the advantage, leading to a $270,250 median sales price in May, nearly 10 percent higher than 2016. Year to date, the $256,000 through the first five months was just under 7 percent ahead of a year ago.
- Days on market: With those dynamics in place, average days on the market dropped dramatically as well, down to 70 days statewide in May, a 9 percent decrease.