A Summer of Low Inventory at the Lake | Meredith Bay

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A Summer of Low Inventory at the Lake

A Summer of Low Inventory at the Lake

Going into summer the real estate market in New Hampshire is as hot as ever! There was a 24% increase in the median existing-home sales price in May, the largest year-over-year increase since 1999 (according to the National Association of REALTORS®). With low inventory in the area, prospects are making multiple offers on homes and are eager to find their perfect spot on the lake. Here’s some more information on what we’re seeing in the real estate market so far this year.

YTD Median Sales Price increased 21.0%

YTD Days on Market decreased 49.2%

Monthly supply of inventory decreased 42.9%

YTD Volume of Closed Sales increased 30.8%

“The increase in sales prices comes with a slight decline in existing home sales nationwide, as homebuyers struggle with declining affordability amid a lack of inventory, forcing some buyers to simply wait it out in hopes of more inventory and less competition.” – New Hampshire Realtors

Inventory continues decreasing in the region, but at Meredith Bay we’re hard at work building eight new spec homes, with two already under agreement and one sold. You can follow the construction of these stunning lake homes here. There’s still limited time to make selections and customize the homes to fit your preferences and style. And if you prefer to build your own custom home on the lake, we also have a variety of different homesites — just pick your favorite one and we’ll make your dream lake home come to life.

A LOOK AT THE REAL ESTATE MARKET

  • April 2020
  • April 2021

All info from New Hampshire Realtors’ January 2021 Monthly Indicators. For the full report, click here

 

If you’re looking to make your dream of owning a lake home a reality, contact us today.

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