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Median sale price of N.H. homes spikes in February

Home sales in New Hampshire were nearly flat in February, but median sale prices saw their biggest year-over-year increase in at least six years, according to the New Hampshire Association of Realtors.

The median price of a home sold in February was $199,000, a spike of 12.2 percent from the median sale price of $177,350 recorded in February 2012. That’s the largest monthly increase on record, the group said Friday. (The association’s monthly data go back to October 2006.)

A total of 681 homes were sold in February, a 0.4 percent increase from the 678 sold the same month a year earlier.

“It’s simple supply and demand,” said Bill Weidacher, the association’s president, in a news release. “As the number of available homes drops, as it has continued to do each month for more than a year, buyers realize that fence-sitting is no longer a good negotiating position. We’re seeing more multiple-offer situations, and the increased prices reflect that.”

In Merrimack County, 65 homes were sold in February, an 8.5 percent drop from the 71 homes sold in February 2012. The median sale price in the county was $169,500, down 2.2 percent from the median price of $173,400 a year earlier.

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