NH Market Trends report

Southern NH Real Estate is on fire…

This is an interesting article published by the New Hampshire Association of REALTORS that was written by Peter Francese. It talks about the aging of New Hampshire and the impact that has on home sales. It also covers April’s NH Market Trend Report. I’m a little bit late on reprinting it for you but trust me when I say the Southern NH real estate market has been very buys! It’s like someone just lit a fire under the real estate market.

Yeah baby …we’re getting older

Our state’s residents are changing, and it may impact home sales
—By Peter Francese
Well, we finally did it. According to the latest Census Bureau estimates, New Hampshire is now tied with Florida for the distinction of being the fourth oldest state in the nation.  Our median age went over 40 years old for the first time ever.

Here’s the 2008 top four lineup: Maine at 42.0, Vermont at 41.2, West Virginia at 40.6 followed by New Hampshire and Florida at 40.2 years old.  New Hampshire’s median age has risen three years since 2000, which is twice the nationwide increase of 1.5 years.

Chart I below shows why this is happening.  From 2000 to 2008, New Hampshire’s total population increased 6 percent, but in the same period the segment 55 to 64 jumped 50 percent, while the number of school-age children ages 5 to 17 declined by 7 percent.

The chart below also shows that an age turnaround may be underway.  The 13 percent rise in the 18 to 29 age group means that, if these young adults stay in New Hampshire, the number of families with children is likely to increase in the future and the state’s median age may stabilize or conceivably fall to a somewhat younger age.

Source: US Census Bureau

These changes may mean an increase in demand for second homes and retirement homes for older residents and starter homes for the youngest families.  But it may mean less demand for trading-up homes because there will be a smaller number of families with older children who sometimes purchase larger or more suitable homes.

Over the next five to 10 years, we could see some Baby Boomer empty-nesters desiring to sell their big homes and buy smaller homes as they approach retirement.  But there’s growing evidence that Baby Boomers will delay retirement, so they may want to keep that larger home and use the extra space for a home office or two.  In any case, overall population growth is most likely to be slower than in past decades.

Survey results and April sales data

Results from the NHAR monthly survey that many of you so kindly fill out show that 42 percent of recent homebuyers were young families and 44 percent of homebuyers were first time homebuyers.  The survey results also show that 30 percent of buyers came from out of state, with a solid majority of those coming from Massachusetts.

The survey also shows that while three-quarters of buyers were purchasing a primary home, about one in four of them were buying a second home or purchasing it for investment purposes.

It’s understandable that investors would be making an appearance considering that the median sales price in April was below $200,000 in eight of 10 NH counties.  But it is also noteworthy that between March and April of this year, the number of homes sold increased in eight counties as well.

Compared to April of 2008, however, residential unit sales are off 11 percent statewide, and median sale price is down 15 percent. (Please see tables below for county detail.)

On a year-to-date basis, homes sold are down just 7 percent compared to last year, but median selling price was 16 percent below the first four months of 2008.

There is substantial variation by county, however.  Compared to 2008 residential unit sales have increased in Belknap, Grafton, Merrimack and Sullivan counties despite declining sales elsewhere.  But the sales in Grafton and Belknap counties came at a sharp discount compared to most other New Hampshire counties.

Table 1:  Residential (non-condo) unit sales for April 2009

Table II: Cumulative residential (non-condo) unit sales January-April 2009

County	Units sold April ‘09	% change 2008-09	Median price April ‘09	% change 2008-09
Belknap	42	8%	$183,500	-27%
Carroll	44	-8%	$177,000	-3%
Cheshire	45	-18%	$167,000	-7%
Coos	20	-38%	$37,450	-54%
Grafton	46	10%	$139,000	-26%
Hillsborough	192	-21%	$221,875	-13%
Merrimack	76	9%	$199,500	-16%
Rockingham	180	-6%	$265,250	-13%
Strafford	60	-24%	$180,500	-17%
Sullivan	34	21%	$126,000	-22%
Statewide	739	-11%	$204,900	-15%

Table II:  Cumulative residential (non-condo) unit sales January-April 2009

County	Units sold Jan-April ‘09	% change 2008-09	Median price Jan-April ‘09	% change 2008-09
Belknap	145	-3%	$167,507	-22%
Carroll	159	-4%	$173,500	-10%
Cheshire	134	-7%	$165,200	-8%
Coos	81	7%	$59,000	-45%
Grafton	147	-7%	$140,000	-30%
Hillsborough	655	-7%	$220,000	-12%
Merrimack	240	-6%	$190,850	-14%
Rockingham	546	-10%	$250,000	-13%
Strafford	211	-10%	$180,000	-17%
Sullivan	96	-2%	$133,250	-17%
Statewide	2,414	-7%	$197,500	-16%

Source: Northern New England Real Estate Network

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$8,000Tax Credit news and Google Scraping…what a week it was

Jay and I just got back home after a busy week in Washington DC where we attended the annual REALTOR midyear conference. It was a jam packed week for me as I pulled double duty, not only did I attend because it is something that I have done for many years and find of tremendous value but also because I am President Elect of the New Hampshire Association of REALTORS.

The week was full of educational sessions, business meetings and hill visits, some of which I needed to attend to fulfill my duties as President Elect but also many sessions that I wanted to attend because doing so benefited my business and added to my knowledge base.

About 8,500 REALTORS from all over the country attended the conference and it was also a great opportunity for us to connect up with many of our  Blogger and Twitter friends from around the country.

The midyear meeting this year held the first  Real Estate Summit: Advancing the U.S. Economy, which was a special day long session and one of the real interesting things that happened during the summit was that Shaun Donovan, secretary of the U.S. Department of Housing and Urban Development, announced Federal Housing Administration is going to permit its lenders to allow homeowners (I’m assuming they mean home buyers) to use the $8,000 tax credit as a down payment. That really shook up the crowd of at least a few thousand REALTORS attending the summit meeting.  Using the tax credit as part of closing costs will make a huge  difference to many buyers and I was pretty excited to hear him say that!

You can read the official report/summery at REALTOR.org Updated…there may be some flip flopping going on about whether or not one can use the 8k as down payment.  Stay tuned as I am sure there will be some breaking news on it soon. Updated…Using the tax credit as down payment is now officially off the table.

One other event that really meant a lot to us personally involved a REALTOR/MLS IDX issue that we first heard about when Paula Henry a fellow real estate blogger wrote about her site being targeted because of a so called “google scraping” charge levied against her by her board of  REALTORS.   So,  Paula Henry and fellow Blogger Jay Thompson, flew in to address the MLS committee in DC regarding Google being considered a scraping site.

Paula  talked about the interpretation of the antiquated MLS rule impacting her life and business and Jay spoke passionately on behalf of all real estate bloggers everywhere and more importantly the impact that this rule will have on sellers and buyers! It looked like a viable compromise was reached with the full support of the MLS committee to be presented to the NAR board of directors for final vote on Saturday.   As real estate bloggers this is something that will effect us and our sellers so we were very happy with the outcome of the MLS meeting.

Because I am President Elect of the New Hampshire Association I also serve as an NAR director and my vote would count…or so I thought.

Ultimately a director  of the Indianapolis Metropolitan Board of Realtors (MIBOR) made a motion to table or send the changes back to the MLS Committee for further study. Once a motion is made “To Table” there is no further discussion on the issue. The vote was close but ultimately it was sent back. To say I was disappointed would be an understatement. It will be interesting to see how this plays out in the Blogosphere and what comes forward in November when The NAR Board of Directors meet again.

You can read more on the REALTOR.org Blog

Did I say it’s nice to be home?

It is nice to be home and if any of you are ready to take advantage of that $8,000 tax credit/down payment please  give me a call I’d love to help you find a home.

Popularity: 6% [?]

Auburn NH and a Blue Heron

A pretty Blue Heron found in Auburn NH

While driving along road in Auburn NH we stumbled upon this majestic Blue Heron. The day was cloudy with rain  falling softly but there sat a Blue Heron, I think he was just waiting for us to come along and take his picture.

Southern NH living is full of cool surprises!

He was gorgeous! Living in New Hampshire is special and this was just one of those special New Hampshire moments.

Popularity: 4% [?]

Atkinson NH Real Estate Market report

Atkinson NH real estate market heats up!

This Atkinson NH real estate market report covers the time period from March 2008 to March 2009. While neighboring Hampstead’s  market report shows an increase in activity, Atkinson for the same time frame shows a decrease.  April stats should show an increase,  since pretty well every REALTOR I know is out straight!

Popularity: 5% [?]

Hampstead NH Real Estate market report

The proof is in the pudding… or should I say the proof is in the chart below. The Hampstead NH real estate market has really started to heat up, check out the chart below which shows a one year history of the Hampstead market!
While inventory is slightly up from a year ago…so are the closings but take a look at those pendings!

That is an awesome increase!
If you are thinking of selling your Hampstead home, I would strongly suggest listing it now and if you’re a home buyer looking to find that perfect home now is the time to jump off the fence.

None of us have a crystal ball but with all the real estate market activity happening and the pending sales are increasing, all indicators are pointing to the strong suggestion that the bottom is here.

Hampstead New Hampshire Real Estate Market report
March 2008 to March 2009

(data provided by Trendgraphix and NNREN)

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New Hampshire’s Coastal Beaches

The state of New Hampshire monitors the condition of it’s 16 coastal beaches regularly and they actually publish the annual beach reports  in PDF format.  So if you are interested in the state of the state’s beaches you can check it out here… The New Hampshire Environmental Services Beach reports .

If you’re a beach lover don’t  forget about the very cool Beach Bus , I don’t know if the schedule is posted yet but if you need a ride to the beach this summer be sure to check it out.

New Hampshire may have a small coastline but it is a gorgeous one and full of activities all year long.  You can watch the Penguins plunge in the winter time or if you dare, join them and do the plunge yourself.   Sand Sculpture competitions and Seafood festivals all the rage plus there is some neat camping at the state park.

New Hampshire’s seacoast is an added bonus for choosing to live in Southern New Hampshire.  If you’re looking to buy a home in Southern New Hampshire give us a call we’d love to help you find your perfect southern New Hampshire home.

Jay and Monika McGillicuddy

Prudential Verani Realty

603-548-7585

Popularity: 7% [?]

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