Home sales in Rockingham & Strafford County bounced back in October coming in 8.9% higher than September. Year over year sales for October fell slightly down 2.7% from 669 a year ago to 651 this year. Sales for 2018 have now fallen below the pace set in 2017 which cements our belief that 2017 will go down as the peak sales year in this market cycle. High prices combined with rising interest rates have now caused many potential home buyers to believe that renting is now the cheaper option.
Average home sales price for Rockingham & Strafford County fell for the third straight month down 2.9% from $365,651 to $354,974. Average sales price for October did come in higher than October of last keeping in line with the trend of every month in 2018 beating out the same month from 2017 albeit this was the smallest gain so far at only 1.47%. Active inventory fell 8.5% this month which is normal for this time of year – rolling 12 month sold held steady which kept current month’s supply of inventory at 3.