Curious about the state of the local real estate market? Let’s take a look at the latest stats for single family homes in May 2024, across all of New Hampshire.
As of May, there is a 2.0 Months Supply of Inventory across the state. This means that if no new homes were added to the market, it would take 2 months to sell all of the current listings. That is a 43% increase over this time last year, up from 1.4 months, but is still quite low and indicative of a seller’s market.
And, the median days on market is only 6 days, suggesting that properties are selling quickly.
When it comes to pricing, the List to Sold Price percentage is at 102.2%. This means that homes are selling for slightly above their list price on average. This could indicate a competitive market where buyers are willing to pay more to secure a home.
And now for the big reveal - the median sold price for a single family home in New Hampshire hit an all-time high of $525,000. This is a good indicator of the overall health and demand in the housing market here.
All that said, both closed sales and new listings are up over this time last year. 1,036 homes were sold in May, up 7% over last year. And, 1,899 new homes were listed for sale, up nearly 17% over May of 2023 as well.
So, what does all of this mean for buyers and sellers in New Hampshire? Overall, these metrics suggest a market that is still experiencing high demand, low inventory, and quick sales. Buyers may need to act fast and be prepared to pay slightly above asking price, while sellers may find themselves in a strong position to sell quickly and potentially for a good price.