New Hampshire median home price climbs 10.3 percent
But sales rise only slightly, according to RE/MAX report
New Hampshire home sales in February rose by 0.5 percent, but the median home price jumped by 10.3 percent in the same period, according to a newly released report – the biggest increase in New England.
The RE/MAX of New England February Monthly Housing Report also found that pending sales in the Granite State rose by 2.2 percent from February 2014.
According to the report, there were a total of 819 home sales in the state in February, only four more than a year earlier. But the median price of $215,000 was $20,000 higher than the $195,000 median reported a year earlier.
Putting pressure on housing prices is the available inventory of homes, which dropped from 11,792 in February 2014 to 10,805 this year – a decrease of 8.3 percent.
In addition, days on market before sale fell from 129 a year ago to 111 this February.
For the region, year-over-year sales in February totaled 7,817, an increase of 2.1 percent. Pending sales were up 4.5 percent over February 2014, and median price rose 5.6 percent from a year earlier.
Across the region, homes are staying on the market an average of two days less than this time last year and pricing remains flat.