For Immediate Release: October 21, 2011
Contact: Dave Cummings
NHAR Director of Communications
603-225-5549, dave@nhar.com
Residential home sales climb for third straight month, while prices fall 10 percent
New Hampshire residential home sales in September rose for the third consecutive month,
compared to the same period a year ago, according to data released this week by the New
Hampshire Association of REALTORS (NHAR).
The median price of those homes, meanwhile, decreased by 10 percent.
There were 1,056 residential homes sold in September 2011, a 13 percent increase over the 933
sold in September 2010. That came following a 29 percent unit sales jump in July and a 14 percent
hike in August.
And for the first time since March, year to date sales have climbed back in front of the number sold
to the same point last year: 8,020 through September of this year, compared to 8,012 in 2010.
“We’re not willing to use the word ‘recovery’ just yet, but to say we feel as though we’re in a period
of stabilization is very fair,” said NHAR President Tom Riley, a 35-year veteran of the real estate
industry and president of Riley Enterprises in Bedford.
Riley further noted that while the third quarter 2011 residential unit sales number is a
substantial 18 percent above that of 2010 (3,224 compared to 2,723 sales), that is not
necessarily a fair representation, as third quarter 2010 sales were dramatically deflated due to
the expiration of the home buyer tax credit at the end of last June.
“Even so, we’re glad to see activity and sales trending in a positive direction, both for the sake
of the housing market and the economy in general,” he said.
Meanwhile, the median price of those homes dropped from $217,000 in September 2010 to
$195,350 in September 2011. Year to date, the $205,000 median sale price in 2011 is 5.5 percent
below the $217,000 through September of 2010.
In local markets, September unit sales increased in seven of 10 counties (while remaining the same
in Coos and decreasing in Sullivan), while only Cheshire County saw an increase in median price.
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