NH’s Housing Inventory Needs One Thing — LISTINGS

Photo of homes in New Hampshire's Lakes Region
Frank Roche, President of Roche Realty Group, Inc. with offices in Meredith and Laconia, NH
Article by Frank Roche

This week I’d like to provide you with a summary of what New Hampshire’s Real Estate Landscape looks like:

  • Interest in New Hampshire homes has gone through the roof, with every county reporting double-digit numbers. They were exceptionally high in more rural areas, keeping with the trends of people relocating from cities and the work-from-home lifestyle.
  • Realtors from the Lakes Region to North Conway, Bartlett, and Berlin to the Lake Sunapee Region and Northern reaches of Lancaster and Colebrook all report a considerable increase of out of state buyers acquiring New Hampshire Real Estate
  • NH’s Housing Inventory is reaching a crisis level, especially homes priced under $300,000
  • The fired-up market has been a continuing trend on the seacoast and the rest of Rockingham county, driven by high demand, low inventory, rising prices, and low mortgage rates. The Seacoast Board of Realtors reports record-breaking sales of expensive homes over $1 million. They also report having the fewest active single-family listing ever
  • It looks like a lot of people got a new home for Christmas in NH; however, it looks like the real gift went to the sellers when sales volume in the usually quiet month of December rose by nearly 50%
  • In NH, as the year ended, the median price of a single-family home was $335,000. This represented a 16.3% increase from December 2019, the sixth straight double-digit monthly increase. On average, homes are now selling in 33 days, almost half the time it took a year ago.
  • In last week’s article, I reported there were only 928 single-family homes presently available for sale in NH compared to 2164 in October. Well, this week, it’s even lower, with only 897 single-family home listings for sale in our state. This sobering statistic results in less than a 1-month supply of homes on the New Hampshire single-family homes market. I’ve never seen it this low by any stretch in my 44 years selling Real Estate in the Lakes Region. On average, a home sells for slightly more than the asking price at 100.3%
  • In Belknap County, there were 1261 closed Single-Family homes in 2020 compared to 1169 in 2019. However, the median sales price increased 15.2%, and total volume increased 35.7%. The median sales price was $310,000 compared to $269,000 in 2019. Average days on the market dropped from 65 to 50. The highest single-family home sale was $4,900,000.
  • In Carroll County, there were 1299 closed sales vs. 1121 in 2019. The median sales price increased 13.2%, and total volume increased by 27.3%. Median price was $300,000 vs $265,000 in 2019 the highest sales price was $5,250,000.
  • In Northern Coos County, there were 634 sales compared to 498 in 2019. The median price increased 16.3%, and total volume increased by 60.5%. Prices were still very affordable, with the median sales price at $135,000 vs. $116,100 in 2019! The highest sales price was $1,500,000
  • Sullivan County (The Lake Sunapee Region) had the biggest increase with 755 closed sales compared to 601 in 2019. The median price increased 19.8%, and total volume increased 67.3% over 2019. Median price was $224,000 vs $187,000 in 2019. Average days dropped to 69 from 81. Sullivan County reported the highest sales price in the state at $7,505,000!
  • According to a study by Atlas Van Lines, New Hampshire had the 4th highest percentage (61.6%) of inbound move rates in the country. Idaho was 1st at 66.4%, North Carolina 2nd at 64.6%, and Maine 3rd at 62.4%

There’s just so much demand and just not enough houses to sell. Back in 1998, the median sales price was $127,500, and now it’s $335,000. Can you believe that in 2010 there were 11,000 single-family homes for sale in NH, and now we only have 897? Last year there were 18,449 homes sold in NH, totaling $7.2 Billion in total dollar volume. With only 897 homes for sale state-wide, we need one thing: LISTINGS!

This article was written by Frank Roche. Frank is president of Roche Realty Group with offices in Meredith and Laconia, NH, and can be reached at (603) 279-7046. Please feel free to visit www.rocherealty.com to learn more about the Lakes Region and its real estate market.

Share on facebook
Share on twitter
Share on google
Share on reddit
Share on pinterest
Home inspection report

Reasons Why You Should Not Waive a Home Inspection

We have a very competitive real estate market here in the Lakes Region due to …

Read More →
Photo of homes in New Hampshire's Lakes Region

NH’s Housing Inventory Needs One Thing — LISTINGS

This week I’d like to provide you with a summary of what New Hampshire’s Real …

Read More →
Wicwas Lodge and Lakeland School Property

Roche Realty Group sells the historic Wicwas Lodge / Lakeland School Property

Roche Realty Group, with offices in Meredith and Laconia, recently sold the Lakeland School property …

Read More →
Night picture of Laconia NH

Lakes Region—One of the Countries Hottest Neighborhoods in 2021

Imagine it’s Super Bowl weekend and there’s not a chicken wing or a pizza to …

Read More →
Hiking in New Hampshire

New Hampshire, Vermont, and Maine Peak Attractions

In my younger years in school, I always loved geography as a subject. Living in …

Read More →
Moving day

How to hand your home over to its new owner

Remember your first home? Whether it was a freshly painted rental or your first investment …

Read More →

Roche Realty Group Reports Sales of $146.5 Million for 2020

Frank Roche, President of Roche Realty Group, Inc with offices in Meredith and Laconia, has …

Read More →
Lakes Region NH vs San Francisco, CA

“Lifestyle Finder” For Your Move to or From The Lakes Region

Some studies place moving to a new location as one of the top ten most …

Read More →
Lake Winnipesaukee, NH

Winnipesaukee, Newfound and Squam Lake Accolades

Winnipesaukee, Newfound and Squam Lake Accolades It’s always fun to read articles where Lake Winnipesaukee …

Read More →
Kevin Shaw - Roche Realty Group

Kevin Shaw of Roche Realty Group is Top Producer for 2020

LACONIA — Frank Roche, president of Roche Realty Group with offices in Meredith and Laconia, …

Read More →
Center Harbor, New Hampshire

Jaw Breaking Price Increase in 2020 vs. 2019

Last week I pulled up comparisons on year to date sales of waterfront homes on …

Read More →
NH Lake Sales Activity - picture of lake with mountains and homes

Lakes Region Waterfront Sales 2020 vs. 2019

We’re getting near the end of the year, and I thought I would pull up …

Read More →
condominiums on lake winnipesaukee nh

No Better Time to Sell Your Home

We’re heading into the holidays, and all the local Realtors® are busy. They are out …

Read More →
Real Estate News Headlines - Lakes Region NH

Real Estate and Market News

There’s a lot going on out there in the marketplace. So much in the news …

Read More →
Picture of NH condominium home with pool

Affordable Housing is Always in Demand

There’s a lot of talk lately about the lack of affordable housing in the Lakes …

Read More →
Kitchen renovation

Small Improvements Make a Big Difference

During this past spring and summer, a large number of homeowners throughout the Lakes Region …

Read More →
Sales Volume and Prices of Luxury Homes Raising Nationally

Sales Volume and Prices of Luxury Homes Raising Nationally

Many national headlines are talking about the booming high-end vacation home market, in addition to …

Read More →
Support Small Businesses

Are we seeing a retail apocalypse?

During this past summer, I have been talking mainly about the exploding residential real estate …

Read More →
House and cash on a balance scale

Tips for Buyers in a “Seller’s Market”

We are currently experiencing a strong seller’s market here in the Lakes Region. 2020 has …

Read More →
Randy Miller Joins Roche Realty Group

Randy Miller Joins Roche Realty Group

Frank Roche, President of Roche Realty Group, Inc. with offices in Meredith and Laconia, is …

Read More →
New Construction in the Lakes Region

Lakes Region Construction Activity Update

It has been a wild summer out here in the Real Estate industry!  I thought …

Read More →
The Opera House in Laconia NH

The Vision behind the “Opera House” Renovation: Revitalization of the Lakeport Area

There is a lot of excitement brewing in the Lakeport area! Previously shuttered for decades, …

Read More →

Roche Realty Group Sells Trustworthy Hardware Building

Laconia – Tom Drouin of Roche Realty Group represented both the Seller and the Buyer of …

Read More →
Highland Ridge

Strong Demand at Highland Ridge With 20 Home Sales.

Sales of newly constructed homes throughout the Lakes Region have been very brisk the past …

Read More →
Hikers overlooking the lake in New Hampshire, voted "Best State to Live in America" in 2020.

New Hampshire Leads the Pack Again!

New Hampshire Leads the Pack Again! A recent article on moneywise by Esther Trattner showed …

Read More →

Hot Markets Around Lake Tahoe and Lake Winnipesaukee

I was reading a recent article on CNBC by Robert Frank the other day where …

Read More →
NH River Kayaking

Rolling down the river

A month and a half ago, we had a fun kayaking trip down the Merrimac …

Read More →

Historic Landmark is a Focal Point of Windward Harbor on Lake Winnipesaukee

Visitors to Lake Winnipesaukee have long recognized the special qualities of Windward Harbor. Its deep …

Read More →
South Down Shores on Lake Winnipesaukee, NH

How Did South Down Shores and Long Bay on Lake Winnipesaukee Get Started?

When construction started in 1981, Laconia’s South Down Farm offered an ideal picturesque setting for …

Read More →
Balmoral on Lake Winnipesaukee

Four Season Living at Balmoral on Lake Winnipesaukee

There are so many water-access communities in the Lakes Region that provide great memories. Let’s …

Read More →

An Overview of Governor’s Island on Lake Winnipesaukee

Find Governor’s Island Homes for Sale The Lakes Region is known for its abundance of …

Read More →
Suissevale on Lake Winnipesaukee, NH

Suissevale: A Desirable Community on Lake Winnipesaukee in Moultonborough

When you navigate the shores of Lake Winnipesaukee, there’s 71 square miles of water and 274 …

Read More →
Gunstock Acres in Gilford, NH

Gunstock Acres in Gilford: A Popular Water Access Community

Find homes for sale in Gunstock Acres We have so many interesting communities in the …

Read More →
The docks at South Down Shores in Laconia

The Impact of Second Homes in the Lakes Region

As I drive around the Lakes Region during this period of social distancing, I’ve been …

Read More →
At the top of Piper Mountain, New Hampshire

Hiking in New Hampshire

Hiking is an excellent (and free!) way to stay in shape, and the awesome feeling …

Read More →
Wolfeboro NH

Thankful to be Living in New Hampshire During This Difficult Period

All of us in the Lakes Region have seen a tremendous impact to our lifestyles …

Read More →

How we are embracing technology to continue to serve our clients and customers during this COVID-19 outbreak

The fast-spreading Coronavirus has created an enormous impact on all of us. Draconian measures to …

Read More →
Roche Realty Group Meredith Office

Roche Realty Group Reports Sales of $130.4 Million for 2019

Frank Roche, President of Roche Realty Group, Inc with offices in Meredith and Laconia, has …

Read More →
Kevin Shaw Realtor

Kevin Shaw of Roche Realty Group, Inc. Produces $36.6 Million in Sales for 2019

Laconia, NH – Frank Roche, President of Roche Realty Group with offices in Meredith and Laconia, …

Read More →
Warming feet by a fire at home

Home and Holiday

If you think about it, many classic Christmas songs (and movies) are centered on the …

Read More →
Thanksgiving for NH

Thanksgiving for New Hampshire

We have so many reasons to be thankful to live in New Hampshire. I have …

Read More →

There are many reasons to live in New Hampshire

It is said that the three most important words in real estate are “location, location, …

Read More →

2019 Parade of Homes to be held October 12-14

Get inspired this weekend with the latest in building trends and innovations! The 2019 Parade …

Read More →
White Oak Motel and Lakefront Cottages Sold

White Oak Motel and Lakefront Cottages Sold

Holderness– The White Oak Motel and Lakefront Cottages located on White Oak Pond has recently …

Read More →

Lakes Region real estate activity for the first 8 months has been strong

Article by Frank Roche, President of Roche Realty Group.    Real Estate activity for the …

Read More →

Historic Homes: Buy with Your Head as Well as Your Heart

Historic Homes: Buy with Your Head as Well as Your Heart I’d like to recommend …

Read More →
Northeast Storage has purchased a commercial building located at 57 Reservoir Road.

Northeast Storage purchases unique Reservoir Road building in Meredith

MEREDITH — Northeast Storage has purchased a commercial building located at 57 Reservoir Road. Tom …

Read More →
111 Church Street, Laconia

Former Lakes Region mental health building listed and sold by Roche Realty Group

LACONIA — Rick Hagan of Roche Realty Group in Meredith, NH represented the seller, Lakes …

Read More →

Live where others dream of vacationing

https://youtu.be/7G5Z4QRBzzc Weirs Beach is a recreation destination with something for everyone, including beautiful lake and …

Read More →
Gilford, NH landmark former restaurant sold

Former well-known restaurant in Gilford recently sold

Gilford, NH – A local Gilford landmark built in 1975 and operated as a restaurant …

Read More →

Leave a Comment