Fall Housing Market Update
Wow – only 2 months left in 2021! So what is the housing market like now you might ask? The short answer is “it’s still a seller’s market.” There are more buyers than there are houses to sell – which probably will not change any time soon. There are only a handful of homes for sale In any given town in our area right now. In Newbury, New London, & Sunapee combined, the median sales price thru Sept. is $489,000 which is about a 14% increase from 2020. It typically took about 12 days for a home to go under contract.
Statewide, NH home prices are up 19% thru Sept., the median sales price is $393,000, and days on market is 12 days. For the U.S., home prices have increased by 13.8% thru Sept., the median sales price is $359,700 and days on market are 17 days. We are experiencing historic price increases and most homes are selling in less than 2 weeks. Even though we are seeing a bit of a slowdown in our fall market compared to the craziness this spring, buyers will most likely continue to be competing with other buyers. And sellers still need to prep and price their home realistically to take advantage of the dynamics of this market. Whether buying or selling, contact me for expert advice on navigating the current market.