Monthly home sale price in NH soars again

The median sale price of a single-family home in New Hampshire jumped 17% in April, to $382,000, but that’s not the most eye-popping statistic – it rose $18,000 in a single month, according to the latest report released by the New Hampshire Association of Realtors.

Buyers didn’t appear to balk at the price tag. When a home went on the market in April, it was gone in an average of 33 days, at 3.3% above the asking price.

When it comes to condos (which sold at a median price of $275,000, 10% over last year and $12,000 more than last month), units were snapped up in 38 days, at 1.9% above asking price.

This is the crazy seller’s market we’re in. Home sales are up 5.8% from last year (condo sales are up 6.3%), but it’s not clear what that means, since the previous April the nation was frozen at the start of the pandemic.

New listings are increasing, and they aren’t coming on the market nearly fast enough. There were 1,386 homes for sale in April, 58% fewer than April 2020, or only 246 more homes than in March. However, demand rose to meet that extra supply, since – at the current rate – all those homes would be gone in 25 days, the same number as in March.

In terms of location, the biggest price increase (60.3%) was found in Carroll County where, a median home sold for $416,750. Rockingham County still had the highest median sale price – 471,500, a 13.6% rise – and Coos still had the lowest, $178,562, though that was up over 43% from April 2020.

In terms of the fastest-selling homes, they can be found in Hillsborough. There a home (selling for $400,000, a 14 percent increase) sold – on average — 17 days after listing.

Realtors don’t expect the market to cool off as the temperature heats up, either.

“Strong buyer demand and limited housing supply show no signs of easing soon, pointing to a continuation of this market trend through spring and into summer,” sums up the report.