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May home sales up 27 percent but average price down 2.4 percent

Staff report
June 21. 2012 11:24PM

New Hampshire home sales rose 27.7 percent in May while the statewide average price dipped 2.4 percent, N.H. Association of Realtors said Thursday.

There were 1,221 residential home sales in May compared to 956 the same month a year ago.

The median priced fell by $5,000 to $205,000 in May 2012, down from $210,000 in May 2011.

Despite the statewide dip, six of New Hampshire's 10 counties showed a median price increase, according to NHAR figures.

'I think it's fair to say that we're actually feeling this shift in activity, rather than just seeing it on a data sheet,' NHAR President John Rice said in a statement. Rice, an agent with Tate & Foss Sotheby's International Realty in Rye, said, 'We are simply busier than we have been in recent memory.'

In the Manchester-Nashua area (Hillsborough County), prices fell 3.4 percent in May from $222,500 a year earlier to $214,900. Unit sales however, rose 27.3 percent to 331 from 260 in May 2011.

Condominium sales

Similarly, condominium unit sales rose 21.7 percent in May from 244 last year to 297 this year statewide.

Median sales price for condos statewide rose 11.2 percent in May from $143,000 to $159,000.

But the five-month average for condo prices from January through May fell by 1.4 percent from $146,000 to $143,950. Sales over the first five months of the year statewide rose 12.2 percent from 959 in 2011 to 1,076 in 2012.

Based on year-to-date sales, Realtor's president Rice predicted there may be at least 12,000 sales by the end of the year, which would mark the first time sales reached the 12,000 threshold since 2006.

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