PORTLAND, ME (November 21, 2024) – Legacy Properties Sotheby’s International Realty, Maine and New Hampshire’s leading luxury property company, with offices in Portland, Kennebunk, Brunswick, Damariscotta, Camden, and Northeast Harbor, announces that U.S. existing-home sales unexpectedly slipped 1.0% month-over-month and 3.5% yearover-year to a seasonally adjusted annual rate of 3.84 million, the lowest level in more than a decade, according to the National Association of REALTORS® (NAR). Prospective buyers have pulled back in recent months, despite lower mortgage rates and more home choices compared to the same time last year.
New Hampshire Monthly Indicators
New Listings increased 7.1 percent for single family homes and 0.2 percent for townhouse-condo properties. Pending Sales increased 16.8 percent for single family homes and 1.4 percent for townhouse-condo properties. Inventory increased 18.9 percent for single family homes and 22.6 percent for townhouse-condo properties
The Median Sales Price was up 4.6 percent to $500,750 for single family homes and 7.0 percent to $430,500 for townhouse-condo properties. Days on Market increased 38.1 percent for single family homes and 70.0 percent for townhouse-condo properties. Months Supply of Inventory increased 15.0 percent for single family homes and 23.5 percent for townhouse-condo properties.
There were 1.39 million homes for sale heading into October, a 1.5% increase from the previous month and a 23% increase from the same period last year, for a 4.3-month supply at the current sales pace, according to NAR. Even with improving supply and the slower sales pace, home prices have continued to rise nationwide, with NAR reporting a median existing-home price of $404,500 as of last measure, a 3% increase from one year ago.
For NHAR’s full slate of market data, including our Monthly Indicators report and detailed county- and town-level reports, visit our FastStats landing page. To create your own customizable and brandable market reports, visit NHAR’s members-only InfoSparks page.
Legacy Properties Sotheby’s International Realty can be reached at 207-780-8900 and [email protected]. Legacy Properties Sotheby’s International Realty, with offices in Portland, Kennebunk, Brunswick, Damariscotta, Camden, and Northeast Harbor, is Maine and New Hampshire’s leading luxury and lifestyle property company with six offices and more than 100 agents serving Maine and New Hampshire’s coastal, lake, and mountain communities.
Offices Located at:
- 2 City Center, Portland, ME 04101 // 207.780.8900 (Greater Portland)
- 150 Port Road, Kennebunk, ME 04043 // 207.967.0934 (Southern Maine and Seacoast New Hampshire)
- 141 Maine Street, Brunswick, ME 04011 // 207.729.2820 (Mid Coast Maine)
- 40 Main Street, Damariscotta 04543 // 207.563.2775 (Boothbay Harbor, Damariscotta and Bristol Regions)
- 46 Bay View Street, Camden, ME 04843 // 207.230.1003 (Camden, Rockport, and Knox and Waldo County)
- 6 Neighborhood Road, Northeast Harbor, ME 04662 // 207.780.8900 (Mount Desert Island, Hancock and Washington County)
