Blog :: 2020

The 2020 New Hampshire Real Estate Market - Year in Review

To put it lightly, 2020 was a challenging year. People have experienced immense turbulence, but also perseverance. When COVID-19 surfaced in the U.S., nobody was quite sure how to proceed and how it would impact their day-to-day lives. 

Thankfully, there were plans to ensure that systems, like the housing market, stayed afloat safely and productively. Sellers continued to sell, buyers continued to buy, and the New Hampshire real estate market remained strong.

Year-to-date, 2020 has seen an increase in nearly every key metric in New Hampshire real estate; here's a look at how this year treated the New Hampshire housing market

Closed Sales

YTD 2019 YTD 2020 % Change
16,262 16,700 +2.7%

Median Sales Price

YTD 2019 YTD 2020 % Change
$300,000 $334,000 +11.3%

Days on Market

YTD 2019 YTD 2020 % Change
55 48 -12.7%

New Listings

YTD 2019 YTD 2020 % Change
21,461 19,476 -9.2%

% of List Price Received 

YTD 2019 YTD 2020 % Change
98.3% 99.6% +1.3%

 

When a pandemic shutdown left the country wondering how our lives would be impacted, the real estate market rolled on full steam ahead. A big wave of buyers across the state continued to compete for available housing, establishing even more of a seller's market. Besides a brief increase in total closed sales, the housing market seemed to have favored sellers.

A jump in the median sales price, and percentage of list price received, meant more money in the pocket of sellers, driven by hungry consumers' demand. Consumers were so hungry to find a home that the average number of days a home spent on the market dropped off by 7 days from 2019. But perhaps the most significant obstacle facing buyers in 2020 was a lack of inventory, referred to by many agents even as a housing crisis. With nearly 2,000 fewer listings than the year prior, 2020 became a mad dash to find a home for buyers. Which ultimately impacted the data mentioned above, including the increase in the sales price and decrease in days on the market.

To those, including buyers, sellers, and more, who gave C21 Circa '72/Thompson the opportunity to help you in your real estate process, thank you! While it was a trying and turbulent year, we've seen inspiring perseverance from our agents and our clients.

Merry Christmas, Happy Holidays, and a Happy New Year from C21, we'll see you next year!

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