If only we had a crystal ball last January to predict what the year would be like. There are so many words to describe 2020 – unprecedented, challenging, surreal. It’s the year we lived our lives online. But amazingly, the housing market gained strength after hitting pause in March & April and 2020 became a record-breaking year in residential sales. The demand for housing was driven by low mortgage rates, millennials reaching prime home-buying age, changes in housing needs, and the ability to work remotely.
Nationwide, the median selling price (through11/2020) was up 14.6% from 2019 to $310,800. In NH, the median selling price for 2020 was up 11.7% to $335,000. The average days on market was 47 days and homes basically sold for their list price. Despite the fact there had never been that many homes for sale at one time, the volume of sales was up 4.6% statewide. In New London, Newbury & Sunapee combined, sales were up from a total of 218 solds in 2019 to 238 homes sold in 2020 with a median selling price of $429,500 (compared to $378,750 in 2019). The housing market is expected to shine in 2021 and continue to have a positive impact on our economy. If you are wondering if now is a good time to buy or sell, feel free to contact me for a no pressure conversation on what the best plan of action is for you. Donna@DonnaForest.com; 603-526-4116 (O); 603-731-5151 (C).
Better Homes & Gardens Real Estate The Milestone Team - Teamwork from the team that works the hardest for both buyers and sellers!