NH led New England in 2015 residential sales
$240,000 median price was 5.3% higher than 2014
New Hampshire had the region's highest percentage growth in residential real estate sales in 2015, according to a report from RE/MAX Integra.
The report found that single-family home transactions increased 11.6 percent year-over-year, from 13,025 in 2014 to 14,533 in 2015. Condominium transactions increased by 15 percent, from 3,284 transactions in 2014 to 3,776 in 2015 – the highest percentage sales increase in New England, according to the report.
At $240,000, the average median sales price of a single-family home in New Hampshire was up 5.3 percent over 2014, the report found.
Meanwhile, median sale prices for condominiums increased by 2.5 percent year-over-year, from $169,000 to $173,200.
Condominiums averaged just 88 days on the market in 2015, 15.4 percent less time than in 2014, while single-family homes averaged 89 days on the market, 9.2 percent less time than in 2014. The
Total volume of single-family home sales in New Hampshire was up 16.2 percent and condominiums were up 20.1 percent –
both the highest-percentage increases in New England.
The report quotes Ann Cummings, a sales associate with RE/MAX By The Bay in Portsmouth as saying 2015 was a strong seller’s market because of a shortage of inventory, especially in the Portsmouth area.
“The average sale price here was $80,000 higher than last year, and condominiums were $75,000 higher,” she said. “Interest rates remained amazingly low, and lending requirements relaxed, which helped get more people into the market.”
In other states:
• The average median price of a single-family home was $185,000 and sales increased 13.7 percent year-over-year. Condominium sales declined 2.2 percent.
• The average median sales price of a single-family home in Maine was up 3.7 percent in 2015, from $174,500 to $181,000. Single-family home transactions increased 10.5 percent year-over-year, from 13,182 to 14,565 homes sold. Condominium transactions increased 10.9 percent, from 1,465 condos sold in 2014 to 1,624 sold in 2015.
• The average median sales price of a single-family home in Massachusetts increased 3 percent, from $332,000 to $342,000. Single-family home transactions increased 8.9 percent, from 42,862 homes sold in 2014 to 46,688 sold in 2015, and condominium sales increased 2.8% year-over-year.
• Rhode Island single-family home sales were up 9.8 percent year-over-year, from 8,527 in 2014 to 9,359 in 2015, and condominium sales increased 7.3 percent. Average median price for a single-family home in the Ocean State increased 4.4 percent, reaching $227,500.
• Single-family home transactions increased 12.6 percent in Vermont, with 5,459 homes sold in 2015. Condominium transactions rose 1.3 percent, with an average median selling price of $189,000.