New Hampshire February Home Sales Increase, Median Prices Decrease

Home sales activity in the Granite State saw a February increase of 13 percent compared to February 2011, according to data released recently by the New Hampshire Association of Realtors (NHAR).

The state’s Realtors reported 661 residential sales last month, compared to 585 in February 2011.  It marked the third consecutive year to see a February increase and was the most February sales since 2007.

The median price for statewide home sales, meanwhile, fell nearly 3 percent for the month, from $185,000 in February 2011 to 179,900 in February 2012.

Year to date (January and February), unit sales were ahead of last year’s pace by 16 percent, while median price for that period was down 6 percent.

“We still have more inventory than you’d find in a balanced market, and that’s continuing to keep prices down,” said NHAR President John Rice, a 40-year veteran of the real estate industry and an agent with Tate & Foss Sotheby’s International Realty in Rye. “As sales increase and inventory decreases, we’ll gradually move out of this decidedly buyer-friendly market. We’re still in the early stages of that process.”

In terms of local markets, all but one of the state’s 10 counties saw unit sales increases in February compared to a year ago, including a 23 percent jump in Hillsborough, the state’s largest county.

And despite the overall February decrease in median price, six of the 10 counties saw increases, including a 5 percent uptick in Hillsborough County, from $190,000 in 2011 to $200,000 in 2012.

February 2012 data residential

February 2012 data condo

Source: Press Release, Dave Cummings, New Hampshire Association of REALTORS® Director of Communications