New Hampshire Market Trends…it’s mighty cold up here!

The New Hampshire Association of REALTORS just released their market trend study. I’ve reprinted it below in it’s entirety as it has some very interesting data. Peter Francese does an awesome job with our Market Trends and in this issue he talks about some of the things that don’t show up in market studies and trends but that do dramatically affect us all.

While the story that our Market trends tells is definitely chilling… both for real estate professionals and home sellers but for buyers it’s some mighty fine news.
One interesting thing is that while our average sales price was virtually the same as it was a year ago the actual solds are significantly lower. The predictions however for our year end residential sales volume will be at least a billion dollars below last year. To quote Peter “That’s damn cold”.

New Hampshire Market Trends

November/December 2006

It’s been a cold year for real estate

by Peter Francese

November may have seemed warmer than usual here in New Hampshire, but there’s a deep chill in real estate. Three of my neighbors perfectly illustrate how the sales statistics, unpleasant as they are, do not completely reflect just how hard this market shift has been on Realtors.

Each of these three neighbors has put his or her house up for sale in the past year. There have been several open houses and dozens of showings, at no small cost to the Realtors involved. But none have sold, and now all three properties have been taken off the market. In at least one case, the reason was an unrealistic price expectation.

None of these “No Sale” examples will show up in the statewide data, nor are the hundreds of unpaid hours the Realtors spent recorded anywhere. Such are the limitations of real estate information systems we have.

What the data from the Northern New England Real Estate Network (NNEREN) and the New Hampshire Housing Finance Authority (NHHFA) does show is that when homes have sold, the average price was virtually the same as it was a year ago. But the number of homes sold is down significantly.

During the first 10 months of 2006, according to NNEREN, the average residential sale price, not including condominiums, was $309,000, which was only $1,000 less than during the same period last year. But the number of units sold dropped 19 percent, from just over 14,000 to under 11,400, and sales volume fell by over $800 million.

Condominium sales did not fare much better. The average sale price during the first 10 months of 2006 was $207,000, down just 3 percent from the $201,000 during the same period last year. But the number of units sold fell 18 percent, from 5,000 to about 4,200, and sales volume dropped by about $160 million.

When 2006 is finally over, residential sales volume in New Hampshire will be at least a billion dollars below last year. That’s damn cold.

The question is: What about next year? Next year’s sales may be better, but it will depend to some extent on an increase of jobs in our region (which have had virtually no growth in the past six months) and a continuing desire of Baby Boomers to own two or more homes.

We may be in a situation where the lack of affordable workforce housing is having a significant impact on the ability of employers to find workers. This suggests that perhaps the prevalence of growth moratoriums in New Hampshire towns is having a negative effect on our workforce growth.

As the table below shows, residential home sales, excluding condominiums, declined in every county for the first 10 months of this year versus last year. The average sale price rose in half the counties, but was flat or declining elsewhere.

[Table=7]

 

Source: Northern New England Real Estate Network

NOTE: Statistics are based on information from the Northern New England Real Estate Network (NNEREN) for the respective periods shown for the respective regions in the State of New Hampshire. All analysis and commentary related to the statistics is that of the New Hampshire Association of REALTORS and not that of NNEREN.The Real Estate Market Trends newsletter is provided for the benefit of the members of the New Hampshire Association of REALTORS, Inc. Copyright 2006 New Hampshire Association of REALTORS, Inc. All Rights Reserved.Peter Francese is the Demographic Advisor to the New Hampshire Association of REALTORS

 

NH Real Estate Professionals Jay and Monika McGillicuddy


Jay and Monika McGillicuddy, covering southern NH and the Seacoast area. If you’re thinking of selling or buying a southern NH or Seacoast area home give us a call…we’d love to help make your home ownership dreams come true.

Jay and Monika McGillicuddy, NH REALTORS

603-944-9172 direct

E-mail Jay and Monika

Prudential Verani Realty

603-926-3648 office

A little bit about Atkinson NH

A little bit about Atkinson New Hampshire

I love driving through Atkinson ,especially during the fall along Rte 121 where the road is embraced by trees and when the colors change…Wow is it ever pretty!  Next year I am going to make a point of taking photos along that road!

Atkinson is a small Southern NH town in Rockingham County; the community was named after Col. Theodore Atkinson, a landowner whose farm once covered a good portion of the town. He was the Brother-in-law to Governor Benning Wentworth, and served as secretary of the colony until the Revolution.

 Atkinson contains 11.2 square miles of land area and 0.2 square miles of inland water area.

The latitude of Atkinson is 42.838N. The longitude is -71.147W. Elevation is 262 feet.
The population, at the time of the 2004 census, was 6,638

Atkinson is a popular community whose border location is ideal for those commuting to Massachusetts or simply wishing to have easy access to the highway. The city of Boston is an hour away, travel  35 minutes east and you’ll find  fine ocean beaches or 1 to2 hours north you’ll be in ski country.

Atkinson has some pretty cool conservation trails and shares part of Big Island Pond a popular 500+/-acre lake with the towns of Hampstead and Derry NH.

Atkinson is also home to a little gem known as  The Atkinson Resort & Country Club and a challenging 18 hole championship Golf Course all nestled in the charming countryside.

Atkinson historically has had a strong re-sale value mainly due to its great location. Just a few minutes away is the town of Plaistow with it’s many fine dining options and shopping, an hour south brings you to the city of Boston, 15 minutes west brings you to the gateway of NH a town called Salem. An hour north and you arrive in the White Mountains with its many attractions plus fine ocean beaches are just a short ride away.

If I didn’t live in Hampstead I would definitely love living in Atkinson NH.

NH Real Estate Professionals Jay and Monika McGillicuddy


Jay and Monika McGillicuddy, covering southern NH and the Seacoast area. If you’re thinking of selling or buying a southern NH or Seacoast area home give us a call…we’d love to help make your home ownership dreams come true.

Jay and Monika McGillicuddy, NH REALTORS

603-944-9172 direct

E-mail Jay and Monika

Prudential Verani Realty

603-926-3648 office

Hampstead Happenings

Hampstead New Hampshire Happenings

Hampstead Happenings

2006 Christmas Parade

This years Annual Santa Parade will be held on December 10th. The theme will be “Christmas in the Country” and as usual the parade starts at 2pm on Main Street at Holiday Lane. The Parade will proceed down Main Street to Emerson Avenue. The line up begins at 1:00pm at the Holiday Lane location.

Anyone wanting to enter a float or marching group can visit the Hampstead Fire department’s web site  for details and an application.

The Fire Department also has some gorgeous Christmas trees for sale…visit the department to get yours before they’re all gone.

Don’t forget… Every year the fire Department invites everyone back to the department after the parade for award presentations, hot chocolate, munchies and a very special visit from Santa himself. This is a great opportunity for catching up with old friends and making new ones. As I mentioned in a previous addition of Hampstead Tid-Bits this is a “not to miss event”.

Mark the date…for the Hampstead Mothers club annual Breakfast with Santa will be held on Dec 2, 8 AM – 11 AM at the Hampstead Central School.

Prudential Verani Realty’s 5th Annual Coat Drive is still going strong ….Our goal this year was to collect 6,000 coats, hats, mittens and scarves to donate to those in need. To date we’ve…collected 3,588 coats!

We can still do it with your help …just drop off your coats by Sat. Dec. 2, 10:00 to 2:00 at our Hampstead office location at 2 Mian Street Hampstead.

All of your very generous donations will be given to local shelters, charitable organizations and to those less fortunate.  Call or e-mail me to donate a coat and make a difference to someone this winter.

Do you have any town info you’d like to see posted contact me here or drop me an e-mail. Till next time have a Safe and Happy Holiday.

Monika [at] monikamcgillicuddy [dot] com

We know that you don’t care what we know ….until you know that we care!

Jay and Monika McGillicuddy

Prudential Verani Realty

Hampstead NH

603-548-7728

NH Real Estate Professionals Jay and Monika McGillicuddy


Jay and Monika McGillicuddy, covering southern NH and the Seacoast area. If you’re thinking of selling or buying a southern NH or Seacoast area home give us a call…we’d love to help make your home ownership dreams come true.

Jay and Monika McGillicuddy, NH REALTORS

603-944-9172 direct

E-mail Jay and Monika

Prudential Verani Realty

603-926-3648 office