New Hampshire Real Estate Market Data: Q2 2015

We've compiled some highlights from the Q2 2015 New Hampshire real estate market data, recently released by the New Hampshire Association of REALTORS®, to provide some insight into what's happening in the NH real estate market this year.

All of New Hampshire

For the second quarter this year, the whole state of New Hampshire saw another positive increase in residential closed sales compared to Q2 2014. Closed sales were up 9.5% this quarter compared to 2014. We also had an increase in median sale price, pending sales, and sales volume compared to last year. Additionally, the days on market decreased by 4.2% from Q2 2014 resulting in an average of 91 days on market for single family residential homes in the state.

Let’s take a look at the local real estate market in Sullivan County and Grafton County.

Sullivan County Single Family Residential Sales

Unlike the market for the entire state, Sullivan County saw a decrease in residential home closed sales from Q2 2014 to Q2 2015. Closed sales were down 6.7% to 125 closings in the county.

Median sales price and pending sales also decreased this quarter compared to last year, 0.5% and 3.1% respectively. However, the days on market also decreased 2.7% from Q2 2014 to an average of 145 days on market for single family homes in Sullivan County.

Looking at the first half of 2015 compared to the first half of 2014, Sullivan County is down 7.8% in residential closed sales resulting in 188 total homes sold so far this year. However, for the second quarter in a row, the sales volume has increased. The total sales volume this year-to-date totals nearly $40 million in Sullivan County. That’s up 6.4% compared to 2014.

Although fewer homes have sold so far this year in Sullivan County, they are being sold at higher prices.

Grafton County Single Family Residential Sales

Grafton County, on the other hand, experienced a large 24.4% increase in closed residential home sales in Q2 2015 compared to Q2 2014, resulting in 291 total single family residential closed sales for the quarter.

The county also saw a positive increase in the number of pending home sales, from 239 in Q2 2014 to 284 in Q2 2015. Median sales price was up 9.3% from last year to $205,000, and the days on market was increased by only one day to 129 average days on market for Grafton County single family residential homes.

Grafton County continues it’s trend upward in 2015. This year-to-date, Grafton County is up 17.1% from 2014 at this time with a total of 439 closed residential home sales so far this year. It is a good year to be selling your home in Grafton County.

NH County Condo Closings

Let’s not forget about condominium sales. Condo closed sales were up 11% for the entire state of New Hampshire in Q2 2015 compared to the same time last year. While Grafton County experienced some of this with a 7.7% increase to 112 condo closed sales this quarter, Sullivan County experienced a 50% decrease in condo closed sales resulting in only 6 closings in Q2 2015.

Although the condo closings in Sullivan County dropped significantly this quarter, so did the average days on market. The Q2 2015 days on market for condos decreased 33.2% from 322 days in Q2 2014 to 215 days this year. Fewer condos sold, but those that did sold much more quickly.

Inventory Needed to Meet the Demand

The recurring theme for this year seems to be high demand and low inventory. In a recent news release from the National Association of Realtors®, NAR chief economist Lawrence Yun referred to the effect of this trend on sales prices. "Steady rent increases, the slow rise in mortgage rates and stronger local job markets fueled demand throughout most of the country this spring," said Yun. "While this led to a boost in sales paces not seen since before the downturn, overall supply failed to keep up and pushed prices higher in a majority of metro areas."

In New Hampshire, we continue to see month after month of decreased inventory of both homes and condos for sale when compared to the previous year. In the second quarter alone, there were 6% fewer NH homes on the market than in 2014.

If you’re considering listing your home for sale in the Dartmouth-Lake Sunapee Region, contact CG Shepherd Realty, LLC to speak with one of our licensed REALTORS® about the regional real estate market.

(Data for this article was found in the following NHAR Real Estate Market Data Reports:Q2 2015 NHAR Market Data and June 2015 and Year-To-Date NHAR Market Data)

View previous NH real estate market data from NHAR.

Meet Doreen Strew, Realtor with CG Shepherd Realty, LLC

Doreen Strew Realtor PhotoCG Shepherd Realty, LLC welcomes REALTOR® Doreen Strew to their team. Doreen is passionate about real estate and ready to help you find your dream home!

Living the American Dream

Doreen was born and raised in Germany (Eastern Germany). She was an exchange student here in New Hampshire and graduated from high school in Newport, NH in 1994. She returned to Germany to attend dental school, but her dream was to live here in the USA. So she decided to immigrate and received her permanent resident card in 2004.

She earned her Bachelor of Science and graduated summa cum laude in 2006, then worked in dentistry until December 2011, when her son Parker was born. In May 2011, Doreen also became a licensed REALTOR® in NH and VT and was an agent with a local real estate agency; however, she decided to deactivate her license to raise her son.

A Passion for Real Estate

She recently reactivated her real estate license to pick up and dust off this dream of hers to help many other people find the home of their dreams.

"In Germany, we build or buy a house and stay there. Period," Doreen explains. So the idea of selling a house and buying a different one to better fit your needs was initially foreign to her, but she was drawn to the opportunities of the American real estate industry.

"I love houses and the possibility to find a dream home...I love the prospect of helping people do just that."

Doreen also loves to help her clients embrace life as it comes, with all the different situations that may be thrown their way.

Doreen takes pride in being detail-oriented and efficient. You can see from her life's story that she believes determination and focus can help you accomplish your goals and reach your dreams.

"People can expect a passion for what I do and professionalism from me."

Exploring the Dartmouth-Lake Sunapee Region

In her spare time, Doreen likes to explore the area of the Dartmouth-Lake Sunapee Region with her family. They like to go to local farms and lakes, take part in the summer town events, and take bike rides up in the hills of Vermont and New Hampshire. Hanging out on the porch and playing games is one of their favorite family pastimes, though.

If you're considering buying or selling a home in the Dartmouth-Lake Sunapee Region, Doreen can help you achieve your real estate goals. Contact Doreen Strew today!

Find Vacation Homes for Sale in Eastman, NH

Eastman NH Vacation Homes

You’ll find beautiful vacation homes for sale in Eastman, NH, a  four-season residential and recreational community near Hanover, New Hampshire and just a short drive from the Boston area.

Eastman, NH does have full-time residents, but it is also a year-round vacation community ideal for seasonal retreats and weekend getaways for those who enjoy outdoor recreation and are looking for a change of pace.

For decades, vacationers have returned to Eastman year after year to make memories that will last a lifetime. Now second and third generations are growing up with the same tradition and consider Eastman to be their second home, a getaway from the congestion of the city, and a respite from the busyness of life.

Unmatched Setting and Amenities in Eastman, NH

This friendly New Hampshire vacation community provides the perfect retreat and is unmatched for its setting and amenities.

Eastman’s 3,700 acres of environmentally protected woodlands and waterways surrounds a 2-mile lake and an 18-hole championship golf course. Eastman Lake offers six private, sandy beaches along with boating, canoeing, kayaking, fishing and swimming during the warmer months of the year. The Eastman Recreation Department also offers programs for children of all ages during the summer and other school vacations.

Eastman, NH also makes a great ski vacation spot during the winter. When New England winter hits, you can take advantage of the abundance of snow with over 36 kilometers of groomed cross-country skiing and snowshoeing trails in Eastman or alpine ski at the nearby Mount Sunapee.

In any weather, the community South Cove Activity Center provides an indoor lap pool, fitness center, sauna, and game room for your enjoyment.

Convenient Vacation Location

Besides having many desirable amenities and activities, Eastman is centrally located with easy access to the Upper Valley and Dartmouth/Lake Sunapee Region as well as I-89.  Brookline, Cambridge, Newton, Wellesley, and Boston are only a short 1.5 to 2-hour drive from this brilliant New Hampshire community.

Search Vacation Homes for Sale in Eastman, NH

You’ll find a number of vacation homes for sale in Eastman, NH, as well as condominiums, that will provide you with access to all the wonderful amenities of this recreational community throughout the year. Whether you’re looking for a waterfront condo with beautiful lake views or a golf course home overlooking the fairway, Eastman has the vacation home for you.

Contact us at CG Shepherd Realty, LLC for more information about the community and to find Eastman, NH vacation homes and condos currently for sale so you can start making your own memories in Eastman.

New Hampshire Real Estate Market Data: Q1 2015

Whether you currently have your New Hampshire home listed for sale or you would like to stay updated on the activity of the local real estate market as a potential buyer or seller, it is important to look at past real estate market data to understand and anticipate future trends. The New Hampshire Association of REALTORS® (NHAR) has recently released the March 2015, year-to-date and 2015 Q1 data for the New Hampshire real estate market.

NH Closed Residential Sales in Q1 2015
All of New Hampshire

The entire state of New Hampshire saw a positive change across the board in residential home closed sales, median sales price, sales volume, and pending sales in the first quarter of 2015.

Compared to the first quarter of 2014, there was a 2.2% increase in closed residential sales, a 1.6% increase in median sales price, a 2.5% increase in sales volume, and a 1.7% increase in pending sales. Also, the average days on market for residential homes in the first quarter of 2015 decreased 1.8%, which is good news for home sellers as homes spent fewer days on the market.

Additionally, New Hampshire condominium sales saw improvements in the first quarter of 2015 with a 5.8% increase to 604 units closed and an 8.6% increase to 696 units pending sales compared to the first quarter of 2014.

Since “location, location, location” in real estate is a critical driving element in sales, let’s take a closer look at county data for Sullivan County and Grafton County.

Sullivan County Single Family Residential Sales

While the single family residential home sales for the state increased, home sales in Sullivan County decreased in the first quarter of 2015 compared to last year by 10% to 63 closed sales. Pending sales decreased 2.5% to 78. The average number of days on market also moved in the wrong direction, up 27.6% to 157 days.

Although Sullivan County experienced fewer residential home closings in Q1 2015, the homes sold were at higher prices evidenced by the jump in total residential sales volume from $10 million in Q1 2014  to $12 million in Q1 2015.

Grafton County Single Family Residential Sales

After two months of decreased residential home sales in January and February 2015, Grafton County completed the first quarter up in sales, thanks to a 20% sales increase in March 2015.

Overall, Grafton County experienced a 5% increase in residential home sales with 148 closings this quarter compared to 141 closings in Q1 2014. Pending home sales also increased 8.6% to 164 pending sales.

Grafton County also experienced a small 1.5% increase in median sales price in Q1 2015. However, total sales volume in Grafton County was down 8.5%. So although there were more home closings in Q1 2015, the sales prices of those homes combined (the total sales volume) were less than those in Q1 2014.

NH County Condo Closings

Sullivan County saw large jumps in the first quarter of 2015 in the number of condo sales with closed sales up 166.7% to 8 and pending sales up 125% to 9.

The condo market in Grafton County in Q1 2015 remained comparable to Q1 2014.  Closed condo sales this quarter were exactly the same as last year (56 closings), and pending sales went down 8.2% to 56.

National Real Estate Market Trends

The National Association of REALTORS® (NAR) announced existing home sales, which include single family homes, townhomes, condominiums and co-ops, on the national level jumped in March 2015.

According to NAR chief economist Lawrence Yun in this NAR article, "The combination of low interest rates and the ongoing stability in the job market is improving buyer confidence and finally releasing some of the sizable pent-up demand that accumulated in recent years." However, Yun notes the need for increased inventory to match a significant increase in demand that has been observed nationally. “‘More listings and new home construction are still needed to tame price growth and provide more opportunity for first-time buyers to enter the market.’”

If you’re on the fence about buying or selling your New Hampshire home, hopefully these New Hampshire real estate market insights are helpful. If you’re located in the Upper Valley or Dartmouth - Lake Sunapee Region, our qualified Realtors at CG Shepherd Realty, LLC are happy to speak with you about the real estate market in your local community. Contact us at CG Shepherd Realty, LLC.

(Data for this article was found in the following NHAR Real Estate Market Data Reports: March 2015 and Year-to-Date NHAR Market Data and Q1 2015 NHAR Market Data)

View past 2014 and 2013 New Hampshire Real Estate Market Data.

New Hampshire Home Foreclosures Drop 42% in February 2015


According to the New Hampshire Housing Finance Authority (NHHFA), New Hampshire hit record lows for the number of home foreclosures this decade with only 133 foreclosure deeds filed in February 2015.

NH Home Foreclosure Drop title image

Short-term and Long-term Improvement in NH Home Foreclosures

Not only was this (133) the lowest number of foreclosures the state has seen this decade, but also it was 42% less than those filed just last year in February 2014. That means in one year, we have seen a dramatic decrease in the number of people who have lost or are at risk for losing their homes to foreclosure.

Additionally, the number of foreclosure auction notices in February dropped even more from February of last year, down 60%, to only 100. It is rare for this number to be lower than the number of filed foreclosures (133) because it is a gauge of the number of people who could lose their homes in the coming months.

Compared to five years ago, so far in January and February of this year foreclosure filings are a whopping 60% lower than they were two months into 2010.

Factors Influencing Fewer NH Home Foreclosures

So, why are we seeing these drastic improvements in the number of New Hampshire home foreclosures both long-term and more recently in just the last year? There are multiple contributing factors. “The NHHFA attributes the improved numbers to an improved economy, and the fact that some banks are allowing short sales rather than taking borrowers’ homes.” (NH Business Review)

Along with the improving economy and banks allowing more short sales, new initiatives have cropped up specifically to assist NH homeowners at risk of losing their homes to foreclosure. This recent article celebrates the success of the HomeHelpNH counseling program that helped 750 households avoid foreclosure over the last two years.

Whatever the factors, these improved numbers are a good sign looking toward the spring that we’ll continue to see fewer home foreclosures in New Hampshire in 2015.