NH Market Trends November 2020
Home sales in Rockingham & Strafford County fell 12.5% from last month which is right in line with what we usually see this time of year. The 697 sales for November was the highest sales total for the month that we have ever recorded, beating out the previous high set last year by an incredible 10.8%. The blistering sales pace set over the last 4 months continued in November despite the unrelenting fall in inventory. We continue to see record low numbers with active listings dropping from 673 last month to 593 this month which is 47% lower than the same time last year. This is the fifth straight month that we have seen year over year declines in active inventory of at least 46%. Total units under agreement remain almost double the active units with 1,184 units currently under contract which is 21.8% higher than in 2019. With such a surge in under agreement units we expect to see extremely strong sales figures through the end the year.
Average home sales price in Rockingham & Strafford County set yet another all-time high in November coming in at $455,193, just barely edging out the previous high set last month by 0.2%. November’s average sales price was 20.5% higher than the $377,769 we saw in November of 2019. This is the fourth month in a row we have seen the average sales price beat out the previous year by at least 15%. With the drop in active inventory to yet another record low we have seen the current month’s supply of inventory fall to 1.0 which is even lower than last month’s record of 1.1. With the current level of inventory if nothing came on the market we would be completely sold out in 4 weeks’ time. Without an influx of inventory it will be difficult to maintain the sales pace of the past several months.