Home sale prices in New Hampshire rose sharply last month, marking the largest one-year increase in the six years the data has been tracked by the New Hampshire Association of Realtors.
The median price of single family homes sold in New Hampshire last month was $199,000.
That’s a 12.2 percent increase in median price compared to February of last year.
New Hampshire Association of Realtors President Bill Weidacher says the spike is a result of simple supply and demand economics.
“Inventory is low, prices are starting to move a little bit, we’re starting to see pressure on pricing.”
Weidacher says the trend should signal to both buyers and sellers that now is the time to act. He says those looking to sell should put their houses on the market sooner than later.
“For buyers, it means this: They may not be in the position to sit on the fence for very much longer.”
Median prices rose in eight of New Hampshire’s ten counties. Belknap saw the largest increase at 29 percent, followed by Sullivan, at 27 percent.
