December 2019 Market Trends
Average home sales price in Rockingham & Strafford County remained relatively flat in December coming in at $376,450 which is just a hair below the $377,769 in November. The December year over year average price jumped up 8.9% from the $345,676 recorded in 2018. For the year the average sales price for 2019 came in at $376,410 which was a 4.5% increase from the previous high of $360,097 set in 2018. To put that into perspective in just 3 years the average sales price for the year has increased from $301,700 at the end of 2016 to $376,410 in 2019. With the inventory levels once again crashing even lower this month and the rolling 12 month sold rising again to 7,128 the current month’s supply of inventory has fallen to 1.5 which is the lowest level we have seen, because of this we continue to see the price trend continuing into 2020.
Home sales in Rockingham & Strafford County fell 11.5% from November which is not surprising as last month was the highest sales figure ever for the month of November coming in at 629. Even with that significant month over month drop, December’s 557 sales were 25% higher than December of 2018. For the year we ended up just 0.16% below the 7,031 sales last year coming in at 7,020 for 2019 which was mostly due to the big boost in the 4th quarter. With such a strong end to 2019 it only increases our expectations for a big year ahead in 2020 with a Spring Market we believe will start early due to the continued lack of supply. Current inventory levels for Rockingham & Strafford County have now dropped to 895 units which is 23% below where we were at the same time last year and 21% below where we were just one month ago. This is the first time we have dipped below 1,000 since we began keeping track three years ago.