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N.H. 1Q residential sales, prices rise
Wednesday, April 14, 2010
The New Hampshire residential real estate market continues to show signs of recovering, with gains recorded in both number of units sold and median price in the first quarter of 2010.
It was the first statewide quarterly price increase since 2006, and the first increase in quarterly unit sales since 2004, according to the New Hampshire Association of Realtors, which provided the data.
In the first quarter of 2010, there were 1,885 residential sales -- 12.6 percent more than the 1,674 sales reported a year earlier. The median residential price was $207,000 in the 2010 quarter, 5.9 percent higher than the $195,500 average in 2009.
Increases were reported in the condominium market as well, with 523 unit sales in the first quarter of 2010, 30 percent more than the 402 units sold a year earlier. The median price was $159,900 -- 4 percent higher than the $154,000 median a year earlier..
There were increases in unit sales in six of the state’s 10 counties, with sales falling in Cheshire, Coos and Carroll counties and sales flat in Sullivan. Median prices rose in seven of 10 counties, with decreases in Cheshire, Hillsborough and Sullivan.
Average days on the market statewide decreased only slightly from 143 days in the 2009 quarter to 141 days in 2010.
"We continue to be encouraged by the positive signals," said NHAR President Monika McGillicuddy, an agent with Prudential Verani in Londonderry. "We try to be cautious in terms of prematurely labeling any movement in the numbers as a trend, but there truly seems to be positive momentum in the marketplace."
McGillicuddy said the market is "continuing to head in the right direction," adding: "The overall picture is good news." -- JEFF FEINGOLD/NEW HAMPSHIRE BUSINESS REVIEW