N.H. home sales rise, median price falls

The first month of 2012 brought a mix of good and bad news for New Hampshire’s housing market.That’s according to RE/MAX of New England, which releases a regional housing report each month.According to the report, in January 2012, more housing units were sold in the state than in the same month the previous year, but the median sale price dipped almost 3 percent.It found that there were 869 housing units sold in New Hampshire in January 2012, a 16.8 percent gain from the 744 units sold in the state in January 2011.Units also sold more quickly month over month, with those sold in January 2012 on the market an average of 150 days, compared to 160 days for those sold in January 2011.Only Rhode Island saw a bigger percentage gain in units sold in the region, with the number of units sold in that state increasing 17.8 percent month over month.Vermont fared worst in New England, with a 2.4 percent drop in units sold month over month. It was the only state in the region in which the number of units sold declined.While the number of units sold was up in nearly every New England state, median price was down across the board, according to the report.The median price of units sold in New Hampshire dropped from $185,000 in January 2011 to $180,000 in January 2012.Still, that 2.7 percent decline was one of the smallest in New England. Only Maine saw a smaller decline, of 2.3 percent.Connecticut and Rhode Island saw the biggest median price drops over the period, with declines of 12.2 and 12.3 percent, respectively.”The slight uptick in sales is encouraging as it means buyers are active in the market, however we are still trying to find a balance between buyer expectations and market realities when it comes to pricing,” said Jay Hummer, executive vice president of RE/MAX of New England. — KATHLEEN CALLAHAN/NEW HAMPSHIRE BUSINESS REVIEW