Prices have declined but so has inventory which may be a little ray of light in the otherwise dark Hampstead NH real estate tunnel.
Active listings are down from 75 in September to 50 today. Thats a big drop in inventory. It could simply be that as we approach the holidays, people are taking their homes off the market or waiting until January to put their home on the market.
If you’re thinking of selling …it could be better to list your home now, when competition is down, rather than waiting until January. Anyone out looking to buy a home this time of year are serious so this could be the edge needed for some sellers.
Let’s look back at the residential sales in Hampstead from January through November of 2007, I have provided a chart below so you can see the difference between 2006 and 2007 during the same time frame. As you can see total sales are still lagging from last year.
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I think it’s a very good thing this drop in inventory. I remember thinking that 30 active listings in Hampstead was a lot and that was not all that long ago.