New Hampshire median home price jumped 15% in August

The median single-family home price in New Hampshire jumped nearly 15%, rising to nearly $350,000 in August, according to the latest report from the New Hampshire Association of Realtors.

Driven by the continued shortage of inventory, those who put their homes on the market are getting what they ask for and a bit more.

Sellers of single-family homes got 100.3% of their asking price in August, according to the Realtors. It was 98.4% in August 2019. And condo owners got 100.2%, as opposed to 99% a year ago.

The actual number of homes sold was down, though only by 1.4% compared to last August. That’s because there were 2,383 homes for sale in August, nearly 58% less than last year. Indeed, there was only about a month and a half of inventory for sale last month. Last year, it was nearly four months.

The shortage has driven up homes prices, but for most of the year the increase has been in the single digits , or just above that. However, in July the median home price rose 13.3% and in August it went up 14.6%, to $349,450. Condos prices are up too, with the median rise 21.4%, to $255,000.

The greatest appreciation in home prices was in Cheshire County, where the median rose 28.1%, to $273,400, and Merrimack County, where the price rose 27.4%, to $337,500. Rockingham County once again had the highest median home price, $440,000, up 13.8%, and Coos County had the lowest, $130,000, an increase of 23.8% from the previous August.