Hampstead NH real estate absorption rate

Keeping my finger on the pulse of Hampstead real estate market

Often times one can not see changes while in the middle of them and the real estate market is no different. After all if we all had a crystal ball we would all buy when the market is at it’s lowest and sell at it’s peak. Usually however we only know we’re at bottom when prices start to increase.

Busy streets in Hampstead NH

So what am I seeing on the streets? A lot of activity! Certain price ranges are moving very fast and seeing multiple offers. The condo market however is still very slow,  single family homes priced under 200k are very popular and inventory Bank owned homes have decreased although we’re told a new wave is coming in Sept/October.

Hampstead NH Absorption rate

This chart shows the absorption rate for the last 6 months of Hampstead NH  real estate. The slight increase in the last few months reflect listings added to the market but note the change of 11.4 % this is a good thing to see! This .chart reflects data to the end of May 2009

Additional reading:

What the heck is an Absorption rate and why should I care???

Hampstead NH- What is the real estate market doing?

disclaimer….

All reports presented are based on data supplied by the Massachussets Real Estate, Boston Real Estate and New Hampshire Real Estate or their MLSs. Neither the Associations nor its MLSs guarantee or are in anyway responsible for its accuracy. Data maintained by the Associations or their MLSs may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed. COPYRIGHT © TRENDGRAPHIX, INC

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32 Forrest Street Hampstead NH

32 Forrest Street Hampstead NH is a beautiful 2 bedroom condominium located  in desirable Eastwood Place.

Eastwood Place is a small condominium project where all the homes are set around a cul-de-sac and show true pride of ownership.

Flowers line the walkways while birds chirp nearby… all making you feel right at home.   It is a lovely setting in a popular  small town located close to the Massachusetts border which makes for an ideal commuting location.

Hampstead offers a little bit of everything and if you’re looking for something in true move in condition, a place you can be proud to call home, then you owe it to yourself to come take a look.  $249,900 MLS #2771859.

call Jay and Monika McGillicuddy, REALTORS to set up an appointment to view this fantastic home. You won’t be disappointed!

If you’re not familiar with Hampstead NH and all it has to offer please read this post. Why Hampstead NH should be my next home

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A walk about in Hampstead NH

I took a walk around  my back yard the other day and noticed that my Lilac bushes are all starting to bloom and so are my apple trees, at least what’s left of them!

I love this time of year…every thing looks so nice and green with pretty flowers popping up all over the place.

I’m happy to see that  my yard has recovered somewhat from the devastation of  ice storm 2008.  We still have a lot of yard work to do but slowly it’s starting to look normal.

Back in Dec. of 2008 after 8 days of no power, downed trees and devastation all over the place I never thought I’d see an apple tree bloom in my back yard again.

You can see from the before and after pictures that the ice storm really did some nasty damage. I lost few of my apple trees but others even the heavily damaged ones seem to be coming back.

I just love spring!

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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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First-time home buyer credit

It’s been all over the news but now it’s a reality.

All the speculation about what the President was going sign, if it would include a $15,000 home buyer credit, a credit for all buyers and not just first time home buyers really stalled real estate sales in January and February.  Buyer were delaying closings and making offers contingent upon a $15,000 home  buyer credit becoming a reality.  That of course did not happen.  I know one agent who lost 3 sales because of it.

What we did get in this American Recovery and Reinvestment Act of 2009 was an $8,000 tax credit, available to first-time home buyers for the purchase of a principal residence on or after January 1, 2009 and before December 1, 2009.

This credit does not require repayment and the credit will be claimed on a tax return to reduce the purchaser’s income tax liability.  If any credit amount remains unused, then the unused amount will be refunded.

So when we hear that the housing stats are lower then anticipated I really blame that on all the speculation and hype about the  Housing Stimulus package.

This link will show you difference between the 2008 and 2009 tax credit for home buyers

FIRST-TIME HOMEBUYER TAX CREDIT

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Hampstead New Hampshire Sales for January 2009

Real Estate Home sales in Hampstead, New Hampshire for January 2009 vs January 2008.

Well Hampstead, NH  has doubled it’s sales from last year and I am sure there will be a couple more sales posted Monday or Tuesday as firms have 48 hours to post their sales from the time the property closes.

Days on market tell the big story, if your home is priced to sell it will sell quickly. If three months is quick. I would say it is compared to the same time last year.

Prices on average are down as well along with price per square foot.

January			Price		$/SqFt		DOM
2008		Total	Average	Median	Average	Median	Average	Median
Recently	Sold	3	$253,867	$250,100	$124	$138	225	150
2009		Total	Average	Median	Average	Median	Average	Median
Recently	Sold	6	$222,250	$198,000	$103	$97	101	64

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