Real estate is local. Knowing what's happening in your local real estate market, and talking to your local REALTOR® can help you with deciding on when to list your home for sale, or when may be a good time to buy. Here are some of the highlights from the New Hampshire real estate market in the first quarter of 2019.
Single Family Residential Sales
Grafton County saw 161 single family residential closings in the first quarter of 2019. That's down 16.6% from the first quarter of last year. Median sales price only dropped by 5.8% to $195,000. But the number days on the market decreased 10.1% to 116 days. That's what home sellers want, right? Fewer days on market.
Sullivan County showed improvement in their numbers in many areas during Q1 2019 compared to last year at the same time. Closings increased by 18.7% to 108. And median sales price increased by 7.2% to $163,450. Days on market was only up 7.4% to 117 days. In addition, the number of pending sales increased a dramatic 46.4% from Q1 2018 to 161 pending sales.
Over all the counties, the state of New Hampshire experienced a slight decrease to 2,702 single family residential closed sales (-2..8%) in Q1 2019 compared to the first quarter of last year. However, the median sales price for those properties increased 7.7% to $280,000. Also, single family residential pending sales increased 7.5% to 3,840 properties for the entire state of New Hampshire.
Concerning condo sales in the first quarter of 2018, both Grafton County and Sullivan County saw a decrease in sales activity compared to the first quarter for 2018. Grafton County condo closed sales were down 14.1% to 67 and Sullivan County condo closed sales were down 25% to 6 total.
The entire state of New Hampshire saw also saw a decrease in condo closed sales (-10.6%) to 772 during the first quarter of 2019 compared to the first quarter of 2018. But, the median sales price increased 5.3% to $200,000 and pending condo sales increased by 3.7% to 1,116 compared to this time last year.
For more information about the real estate market in your community, please contact us at CG Shepherd Realty, LLC to speak to one of our qualified REALTORS®.
View the NH 2019 Q1 Report.
View the NH Monthly Indicators Report March 2019.
March 2019 Update:
"The Federal Reserve recently announced that no further interest rate hikes are planned for 2019. Given the fact that the federal funds rate has increased nine times over the past three years, this was welcome news for U.S. consumers, which carry an approximate average of $6,000 in revolving credit card debt per household. Fed actions also tend to affect mortgage rates, so the pause in rate hikes was also welcome news to the residential real estate industry." According to NHAR NH Monthly Indicators for March 2019 report. [link]
April 2019 Update:
In April, Grafton County experienced year-to-date (YTD) decrease in single family residential closed sales to 228 (-20.6%) compared to this time last year. However, Sullivan County is showing a significant increase in year-to date sales up 15.9% to 153 single family residential closed sales as of the end of April 2019. YTD days on market has slightly decreased for both Grafton and Sullivan counties, 118 and 108 days respectively.
View the NH Monthly Indicators Report April 2019.
(Information for this blog is based on the data provided by the New Hampshire Association of REALTORS)