Fewer single-family home sales have closed through Nov. 30 than in any year since 2014.
With 2021 nearly in the rearview mirror, the state’s single-family market is still struggling to keep up with its pre-pandemic pace.
Across New Hampshire, 15 percent fewer single-family homes have been sold through Nov. 30 this year compared to the first 11 months of 2019 according to The Warren Group, publisher of The Registry Review.
Last month, 1,350 single-families sales closed at a median sale price of $380,000. Those figures are 5 percent and 32 percent above their levels in November 2019, and 6 percent down and 15 percent above the same figures for November 2020.
Year-to-date, there have been 12,970 single-family homes sold across the Granite State, 15 percent down from the same figure through Nov. 30, 2019 and 5 percent down from the same figure on Nov. 30, 2020. It’s also the lowest number of single-family sales since 2014.
The year-to-date median sale price so far this year is $375,000. That’s 32 percent above the median sale price on Nov. 30, 2019 and 17 percent above the same figure on Nov. 30, 2020.
The New Hampshire Association of Realtors reports that inventory continued to contract in November, with only 1,102 homes hitting the market, an 8.8 percent decline over November 2020 but an increase over November 2019’s tally of 996.
Total November inventory was 1,380, 32 percent down from November 2020. The figure is more than a third less than the 3,991 homes for sale during the month of November 2019, NHAR reported.
The homes that sold last month spent an average of only 27 days on market, compared to 24 in October and 21 in September. Months supply also contracted, to 0.9 months, down from 1.2 months in October and 1.3 months in September.
The average share of list price that November’s sellers received was 101.6 percent according to NHAR, up slightly from October’s 101.5 percent and down slightly from September’s 101.8 percent, indicating that bidding wars continue.
Warren Group data shows that Coos County continues to see the biggest price leaps, year-over-year. Single-family home prices were 25 percent higher in Coos County last month compared to a year ago, with Carroll and Hillsborough counties registering similar jumps of 23 percent and 21 percent, respectively.
The smallest jump was seen in Cheshire County – median single-family price $265,000, only 10 percent above November 2020’s figure.
