As May turns to June, we are looking back at single family home sales within the Sunapee region.
Last month there were 47 closings, which is 1 less than the same month in 2021, but the slowest May since 2012. The past few years have been a gradual decline in the number of closings but seems to be leveling off. However, dynamics of this market with historically high prices and rising interest rates leads to less predictable trends. It seems likely that rising interest rates would temper home prices but there is less certainty what it will mean for the number of listings each month.
The median days on market slowed slightly from 6 in April to 7 in May, however the median sale price dipped from $400,000 to $360,000. The cumulative sale price (for which you can see historical trends below) are $360,000 year-to-date including May, which matches May to the year-to-date median sale price. As we progress into summer, time will tell if we saw a peak of prices in April or if May was a temporary dip but unfortunately for buyers there’s only been a slight slowing in the pace of the market.
The New Hampshire Association of Realtors reported a statewide monthly rise in the median sale price from $440,000 in April to $460,000 in May. However, their data is showing that the rate at which prices have been rising over previous years is slowing as well. You can review their data here, but it is likely that a local market like the Sunapee Region is showing signs of long-term changes before a statewide trend develops.
To read more about where mortgage rates might be heading click here to read our previous post about rates or if you’d like to learn more about the Sunapee Region please contact us here.
Andover
18 North Short Street - $550,000
434 Chase Hill Road - $885,000
Bradford
15 Maple View Drive - $260,000
Croydon
243 Cash Street - $360,000
Goshen
1025 Brook Road - $262,500
2149 Brook Road - $330,000
735 Washington Road - $415,000
Grantham
9 Forest Road - $251,000
104 Greensward Drive - $299,000
4 Winter Hill - $662,000
Lempster
57 S Hill Drive - $249,000
188 Stark Road - $325,000
New London
163 Page Road - $280,000
257 Seamans Road - $508,000
128 Sugarhouse Road - $575,000
938 Morgan Hill Road - $862,000
70 Lodge Lane - $1,825,000
Newbury
31 Ramblewood Circle - $350,000
14 Fowler Mill Road - $542,000
504 Old Post Road - $552,000
10 Lake Avenue - $715,000
325 Bay Point Road - $3,900,000
Newport
4 William Street - $162,500
24 Summer Street - $175,000
163 Elm Street - $260,000
178 Maple Street - $290,000
16 Pinnacle Street - $326,000
130 Laurel Street - $360,000
Springfield
240 Sanborn Hill Road - $120,000
155 Four Corners Road - $210,000
Sunapee
236 Route 103 - $360,000
30 Maple Street - $385,000
52 Upper Bay Road - $1,000,000
Sutton
27 Jolly Farm Road - $372,000
18 Shaker Heights - $681,000
Unity
10 Towne Road - $492,500
Warner
3 Waldron Hill Road - $340,000
15 Roslyn Avenue - $365,000
23 Runels Loop - $383,500
845 Kearsarge Mountain Road - $427,000
208 North Village Road - $501,500
Washington
96 Ashuelot Drive - $215,000
128 Madison Drive - $300,000
141 Lincoln Drive - $330,000
286 Presidential Drive - $350,000
2616 East Washington Road - $440,000
Wilmot
373 N Wilmot Road - $120,000
*Data is from NEREN MLS and is subject to human error. Sometimes information outside of our control is uploaded to the system late which means our numbers could be off by one or two sales.
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