October 2019 Market Trends

Average home sales price in Rockingham & Strafford County dipped less than 1% from the $388,095 average price in September. Even with the small drop from the month prior October’s $385,391 figure was 8.6% higher than October 2018 and is the third straight month with an average sales price above $380,000. With the amount of available homes tumbling and the 12 month rolling sold jumping back above the 7,000 threshold up for 7,044 the current month’s supply of inventory has dropped back down to 2.3 which is the lowest it has been since May of this year and well below the 2.7 months of inventory we saw at this time last year. As we have mentioned before inventory has been and will continue to be the biggest single driving factor in both sales and sale price in the current market.

Home sales in Rockingham & Strafford County bounced back slightly in October coming in at 655 which was a 5.8% increase over the month prior. Year over year sales for October remained relatively flat increasing by only 0.6%. With the October 2019 sales only increasing a small amount over 2018 we still remain 2.3% behind the sales pace set last year. Housing inventory remains drastically low which makes the year over year gain for October even more impressive. With only 1,366 active units available we are 16% below the inventory level at the same time last year (1,635) and 14% lower than last month’s 1,588 available units.