Rockingham & Strafford NH Housing Market Update: February 2024

Welcome to the latest edition of the Rockingham & Strafford NH Housing Market Update for February 2024! I'm Rania Elsherif, a licensed realtor covering NH and ME. Whether you're a homeowner or a prospective buyer, this update is designed to provide you with valuable insights into the current state of the real estate market in Rockingham and Strafford counties.

Inventory Insights

In February this year, the number of listings saw a significant uptick of approximately 36% compared to the same period last year. We witnessed a total of 373 listings in February 2024, compared to 273 single-family homes and condos in February 2023. This increase in inventory translates to more options and opportunities for buyers in the region.

Price Trends

The median price for properties in February 2024 reached $600,000, marking a notable 15% increase compared to February 2023. This upward trend in prices underscores the continuing demand for real estate in the area.

Days on Market

One of the most striking observations in February 2024 was the considerable decrease in the average days on market. Homes spent an average of just 6 days on the market, a significant drop from the 29 days recorded in February 2023. This shortened time frame reflects the brisk pace at which properties are being bought and sold in the current market.

Key Updates for Buyers and Sellers

Buyers now enjoy a wider selection of properties, presenting increased negotiation opportunities due to the expanded inventory.

For sellers, realistic pricing remains crucial in navigating this balanced market. Highlighting the unique features of your property can help attract buyers in this competitive landscape.

Stay Informed and Empower Your Decisions

The real estate market is dynamic, and staying informed is essential. Whether you're considering buying, selling, or simply want to understand the trends shaping the market, I'm here to provide personalized guidance and support. Feel free to reach out to me for expert advice tailored to your specific needs.

Thank you for joining us for this quick market update! If you have any questions or would like to delve deeper into any aspect of the real estate market in Rockingham and Strafford counties, don't hesitate to leave a comment below. And remember to subscribe for more valuable insights and updates!

Your trusted realtor, Rania Elsherif

 

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