The healthy pace of New Hampshire home sales continued in September, according to data released Thursday by the New Hampshire Association of Realtors.
It was the 22nd consecutive month the number of residential sales exceeded the same month in the prior year. The 1,419 homes sold in September was 15 percent above the 1,230 sales in September 2012. The median price climbed again as well, a 12 percent jump from $190,000 in September 2012 to $213,000 in 2013. That added up to a 26 percent increase in September sales volume, meaning the total dollars exchanged in those transactions.
"To the extent that there is such a thing as a normal market, I would say we're just about there," said 2013 NHAR President Bill Weidacher, in a news release. "You'll always find distinctions in local markets, but from a statewide perspective, things truly are returning to normal."
To that end, the September numbers are a fair reflection of the third quarter and 2013 as a whole. In the third quarter, unit sales were up 17 percent, median price was ahead by 13 percent, and sales volume witnessed a 29 percent increase. Those numbers for the first nine months combined were a 13 percent increase for unit sales, 10 percent increase for median price and 19 percent increase for sales volume.
Average days on the market dropped 14 percent for September and have fallen 13 percent year to date, while pending sales were ahead 5 percent in September and 11 percent year to date.
And months' supply, which measures the number of months it would take to sell off the current inventory of homes at the current pace of sales, was down to 10.5 percent in September, down from 13.5 in September 2012 and 17.4 in September 2011.
Condominium sales in New Hampshire, meanwhile, trended similarly in September, ahead by 21 percent in closed sales, 11 percent in median price, and 36 percent in sales volume. Year to date, those numbers are 18 percent, 8 percent and 26 percent, respectively.
Locally, nine of the 10 New Hampshire counties saw residential unit sales increases in September " with Coos County level. Seven of 10 witnessed September median price increases as well, with only Belknap, Cheshire and Sullivan counties down. All 10 counties have seen unit sales and median price increases year to date.
Article taken from the October 25, 2013 Manchester Union Leader
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