Revealed: 1/16/2021 5:38:46 PM
It appears like lots of people acquired a brand new house for Christmas in New Hampshire, however the actual reward appears to have gone to sellers as gross sales quantity within the usually quiet month of December rose by almost 50%.In line with the newest statistics from the New Hampshire Affiliation of Realtors, December was only one extra sizzling month throughout a file 12 months, but it surely comes when, usually, gross sales cool off. However the sturdy vendor’s market we noticed via 2020 continued via the top of the 12 months, market due to record-low house stock.The median house price remained at $350,000, however often within the winter months that median falls, in response to the Realtors’ report. That represents a 16.3% hike within the median price from December 2019 – the sixth straight double-digit month-to-month enhance.The explanation: There is a rise in demand – in all probability from these in search of to flee locations like Boston and New York throughout the pandemic – that isn’t almost met by the provision. Properties, on common, now promote in 33 days, almost half the time they took to promote a 12 months in the past. Sure, there have been greater than 800 new listings in December, however that’s greater than half of the quantity in December 2019, when 1,383 houses had been available on the market.The consequence: There may be now lower than a month’s provide of houses on the New Hampshire single-family house market – nine-tenths of a month, to be exact.On common, a house offered for barely extra (100.3%) of the asking price.For the 12 months, the median price of a single-family house offered was $335,000, an 11.7% enhance from 2019 and the largest bounce in sale price since 2002, when it rose 15.1%, to $207,000. And the annual common of 47 days available on the market was the bottom it has been since 1998, when the Realtors began holding observe of that statistic.The story for condos was related. The median price in December was $271,750, up 23.5% and gross sales rose 22.1%. On common, condos had been snapped up 38 days after they went available on the market, for 100.7% above the asking price.All this doesn’t bode properly, in response to the Realtors’ Affordability Index, which fell 5.3% for the month and 11% for the 12 months.The median price of a house in essentially the most inexpensive county – Coos – went up 29%, to $148,750. Sullivan County had the largest enhance, with the median price rising 42.3%, to $222,000. Rockingham County had the best single-family median price of $450,000, a rise of 13.4% pricier from December 2019. In Merrimack County, the median price jumped 14.8% to $320,000, and in Belknap County it grew greater than 20 p.c to $312,500.These articles are being shared by companions in The Granite State Information Collaborative. For extra info go to collaborativenh.org.