August 2014 Monthly Snapshot One-Year Change in One-Year Change in Single Family Closed Sales Single Family Median Sales Price 2 NH Monthly Indicators - 1.1% + 1.7% + 0.6% One-Year Change in Most local markets continue to recover from a soft patch earlier this year. The macro trend is still positive; the micro trend involves more moderate pinching up and down the month-to-month timeline. This is not uncommon in a balanced market, but it's been so long since we've seen one that we're watching it with perhaps too much trepidation. Metrics to watch include inventory and prices, but also days on market, months' supply and percent of list price received at sale. Declines in pending and closed sales activity may reflect strong decreases at lower price points and may not indicate softening demand. N Li i d 20 f i l f il h d 10 6 Single Familly Sales Volume Residential real estate activity in New Hampshire. A Research Tool Provided by the New Hampshire Association of REALTORS®. Percent changes are calculated using rounded figures. Single Family Activity Overview 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 Click on desired metric to jump to that page. Current as of September 13, 2014. All data from New Hampshire Assosiation of REALTORS®, Inc. and Northern New England Real Estate Network. Powered by 10K Research and Marketing. Condo Activity Overview New Listings Inventory of Homes for Sale Percent of List Price Received Housing Affordability Index All Properties Activity Overview Closed Sales Median Sales Price Dollar Volume of Closed Sales (in millions) Days on Market Until Sale Pending Sales Months Supply of Inventory Condo Activity by County New Listings were down 2.0 percent for single family homes and 10.6 percent for condo properties. Pending Sales decreased 4.7 percent for single family homes and 8.2 percent for condo properties. The Median Sales Price was up 1.7 percent to $233,000 for single family homes and 1.7 percent to $174,900 for condo properties. Months Supply of Inventory decreased 2.6 percent for single family units and 8.6 percent for condo units. Sustained job growth, lower mortgage rates and a slow rise in the number of homes for sale appear to have unleashed at least some pent-up demand. Since housing demand relies heavily on an economy churning out good jobs, it's encouraging to see second quarter GDP growth revised upwards to a 4.2 percent annualized rate and stronger-than-expected job growth in recent months. Further improvements are still needed by way of wage growth and consumer confidence but recovery continues. Single Family Activity Overview Single Family Residential Activity by County
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August 2014 Monthly Snapshot
One-Year Change in One-Year Change in
Single FamilyClosed Sales
Single FamilyMedian Sales Price
2
NH Monthly Indicators
- 1.1% + 1.7% + 0.6%One-Year Change in
Most local markets continue to recover from a soft patch earlier this year. The macro trend is still positive; the micro trend involves more moderate pinching up and down the month-to-month timeline. This is not uncommon in a balanced market, but it's been so long since we've seen one that we're watching it with perhaps too much trepidation. Metrics to watch include inventory and prices, but also days on market, months' supply and percent of list price received at sale. Declines in pending and closed sales activity may reflect strong decreases at lower price points and may not indicate softening demand.
N Li i d 2 0 f i l f il h d 10 6
Single FamillySales Volume
Residential real estate activity in New Hampshire. A Research Tool Provided by the New Hampshire Association of REALTORS®. Percent changes are calculated using rounded figures.
Single Family Activity Overview 23456789
10111213141516
Click on desired metric to jump to that page.
Current as of September 13, 2014. All data from New Hampshire Assosiation of REALTORS®, Inc. and Northern New England Real Estate Network. Powered by 10K Research and Marketing.
Condo Activity Overview
New ListingsInventory of Homes for SalePercent of List Price ReceivedHousing Affordability IndexAll Properties Activity Overview
Closed SalesMedian Sales PriceDollar Volume of Closed Sales (in millions)Days on Market Until SalePending SalesMonths Supply of Inventory
Condo Activity by County
New Listings were down 2.0 percent for single family homes and 10.6 percent for condo properties. Pending Sales decreased 4.7 percent for single family homes and 8.2 percent for condo properties.
The Median Sales Price was up 1.7 percent to $233,000 for single family homes and 1.7 percent to $174,900 for condo properties. Months Supply of Inventory decreased 2.6 percent for single family units and 8.6 percent for condo units.
Sustained job growth, lower mortgage rates and a slow rise in the number of homes for sale appear to have unleashed at least some pent-up demand. Since housing demand relies heavily on an economy churning out good jobs, it's encouraging to see second quarter GDP growth revised upwards to a 4.2 percent annualized rate and stronger-than-expected job growth in recent months. Further improvements are still needed by way of wage growth and consumer confidence but recovery continues.
Key metrics by report month and for year-to-date (YTD) starting from the first of the year.
Closed Sales 1,592 1,574 - 1.1%
8-2011 8-2012 8-2013 8-2014
8-2011 8-2012 8-2013 8-2014
8-2011 8-2012 8-2013 8-2014
8-2011 8-2012 8-2013 8-2014
`
Current as of September 13, 2014. All data from New Hampshire Assosiation of REALTORS®, Inc. and Northern New England Real Estate Network. Powered by 10K Research and Marketing. | Click for Cover Page | 2
+ 0.5%
Affordability Index 160 165 + 3.1% 166 168 + 1.2%
Pct. of List Price Received 96.4% 96.5% + 0.1% 96.1% 96.6%
Pct. of List Price Received 96.4% 97.2% + 0.8% 96.2% 96.8% + 0.6%
Homes for Sale 2,633 2,473 - 6.1% -- --
+ 1.3%
Current as of September 13, 2014. All data from New Hampshire Assosiation of REALTORS®, Inc. and Northern New England Real Estate Network. Powered by 10K Research and Marketing. | Click for Cover Page | 3
Affordability Index 213 220 + 3.3% 227 230
8 2011 8 2012 8 2013 8 2014
8-2011 8-2012 8-2013 8-2014
8-2011 8-2012 8-2013 8-2014
8-2011 8-2012 8-2013 8-2014
8-2011 8-2012 8-2013 8-2014
8-2011 8-2012 8-2013 8-2014
8-2011 8-2012 8-2013 8-2014
NH Closed Sales
Closed SalesSingleFamily
Year-Over-YearChange Condo
Year-Over-YearChange
Sep-2013 1,311 +14.8% 336 +22.2%
Oct-2013 1,277 +6.4% 359 +40.8%
Nov-2013 1,095 -4.3% 260 -5.8%
Dec-2013 1,074 +4.0% 244 +14.6%
Jan-2014 694 -13.4% 180 -2.7%
Feb-2014 659 -3.5% 155 -14.8%
Mar-2014 844 -10.4% 236 -0.8%
Apr-2014 994 -7.6% 250 -8.1%
May-2014 1,304 -4.9% 335 -4.0%
Jun-2014 1,594 +7.1% 380 +10.8%
Jul-2014 1,561 +0.3% 359 -0.6%
Aug-2014 1,574 -1.1% 357 -11.6%
12-Month Avg 1,165 -0.3% 288 +2.9%
A count of the actual sales that closed in a given month.
Current as of September 13, 2014. All data from New Hampshire Assosiation of REALTORS®, Inc. and Northern New England Real Estate Network. Powered by 10K Research and Marketing. | Click for Cover Page | 4
Historical NH Median Sales Price by Month* Median Sales Price for all properties from September 2013 through August 2014. This is not the average of the individual figures above.
Current as of September 13, 2014. All data from New Hampshire Assosiation of REALTORS®, Inc. and Northern New England Real Estate Network. Powered by 10K Research and Marketing. | Click for Cover Page | 5
Historical NH $ Volume of Closed Sales by Month (in millions)* $ Volume of Closed Sales (in millions) for all properties from September 2013 through August 2014. This is not the average of the individual figures above.
Current as of September 13, 2014. All data from New Hampshire Assosiation of REALTORS®, Inc. and Northern New England Real Estate Network. Powered by 10K Research and Marketing. | Click for Cover Page | 6
Historical NH Days on Market by Month* Days on Market for all properties from September 2013 through August 2014. This is not the average of the individual figures above.
Current as of September 13, 2014. All data from New Hampshire Assosiation of REALTORS®, Inc. and Northern New England Real Estate Network. Powered by 10K Research and Marketing. | Click for Cover Page | 7
Current as of September 13, 2014. All data from New Hampshire Assosiation of REALTORS®, Inc. and Northern New England Real Estate Network. Powered by 10K Research and Marketing. | Click for Cover Page | 8
The inventory of homes for sale at the end of a given month, divided by the average monthly pending sales from the last 12 months.
13.612.4
11.6
9.3
11.3
8.5
August
2012 2013 2014
- 8 6%- 25 0%2 6%14 7%2012 2013 2014
22 3% - 22 0%12 Month Avg 10.0 7.7% 8.0 18.3%
Historical NH Months Supply of Inventory by Month* Months Supply for all properties from September 2013 through August 2014. This is not the average of the individual figures above.
Current as of September 13, 2014. All data from New Hampshire Assosiation of REALTORS®, Inc. and Northern New England Real Estate Network. Powered by 10K Research and Marketing. | Click for Cover Page | 9
Current as of September 13, 2014. All data from New Hampshire Assosiation of REALTORS®, Inc. and Northern New England Real Estate Network. Powered by 10K Research and Marketing. | Click for Cover Page | 10
The number of properties available for sale in active status at the end of a given month.
13,933
2,963
13,619
2,633
13,262
2,473
August
2012 2013 2014
- 6 1%- 11 1%2 6%2 3%2012 2013 2014
8 3% - 11 5%12 Month Avg 11,685 2.0% 2,332 7.9%
Historical NH Inventory of Homes for Sale by Month
Current as of September 13, 2014. All data from New Hampshire Assosiation of REALTORS®, Inc. and Northern New England Real Estate Network. Powered by 10K Research and Marketing. | Click for Cover Page | 11
Percentage found when dividing a property’s sales price by its most recent list price, then taking the average for all properties sold in a given month, not accounting for seller concessions.
Historical NH Percent of List Price Received by Month* Pct. of List Price Received for all properties from September 2013 through August 2014. This is not the average of the individual figures above.
Current as of September 13, 2014. All data from New Hampshire Assosiation of REALTORS®, Inc. and Northern New England Real Estate Network. Powered by 10K Research and Marketing. | Click for Cover Page | 12
This index measures housing affordability for the region. An index of 120 means the median household income is 120% of what is necessary to qualify for the median-priced home under prevailing interest rates. A higher number means greater affordability.
Historical NH Housing Affordability Index by Month* Affordability Index for all properties from September 2013 through August 2014. This is not the average of the individual figures above.
Current as of September 13, 2014. All data from New Hampshire Assosiation of REALTORS®, Inc. and Northern New England Real Estate Network. Powered by 10K Research and Marketing. | Click for Cover Page | 13
Key metrics by report month and for year-to-date (YTD) starting from the first of the year. Includes Single Family, Condos and Manufactured/Mobile Homes.
New Listings 3,018 2,889 - 4.3% 24,275 24,814 + 2.2%
Months Supply 11.2 10.6 - 5.4% -- --
--
Pct. of List Price Received 96.1% 96.3% + 0.2% 95.8% 96.3% + 0.5%
Homes for Sale 17,078 16,444 - 3.7% -- --
+ 0.8%
Current as of September 13, 2014. All data from New Hampshire Assosiation of REALTORS®, Inc. and Northern New England Real Estate Network. Powered by 10K Research and Marketing. | Click for Cover Page | 14
Current as of September 13, 2014. All data from New Hampshire Assosiation of REALTORS®, Inc. and Northern New England Real Estate Network. Powered by 10K Research and Marketing. | Click for Cover Page | 15
Current as of September 13, 2014. All data from New Hampshire Assosiation of REALTORS®, Inc. and Northern New England Real Estate Network. Powered by 10K Research and Marketing. | Click for Cover Page | 16