Some good news to share

New Hampshire home sales jump 6% in July

A New Hampshire Association of REALTORS recent press release gave us all some good real estate news as statewide residential home sales increased for the second consecutive month!  Sales data showed that residential home sales are up 6% in July 2009 as opposed to July 2008 and it further noted that it is the 1st time we’ve had consecutive increases in sales since 2005.

Home Inventory is down

At the end of January 2009 there was a solid 22 months supply of homes on the market statewide, July went out with just under 11 months worth of inventory.  A balanced market is usually 6-8 months.  Nationally the pending home sale index has shown five  consecutive months of gains. Something we haven’t seen in six years! All good news and good reason for being optimistic about the New Hampshire real estate market.

Locally even Hampstead and Atkinson have shown improvement

Year to date is Residential sales only. Rockingham County as a whole has not fared as well as Hampstead and Atkinson, showing a slight decrease over July 2008.

Median Sales Price still declining

Except Hampstead which actually had a slight increase interestingly enough

Market time is way down in Rockingham County

Average Days on the market has in most cases decreased dramatically.  Hampstead is down 27% and Atkinson down 58%. That is very good news!

Don’t forget the $8,000 dollar 1st time home buyer tax credit.

1st time home buyer mans that you CAN NOT have owned a home in the last THREE years. To qualify for the tax credit you need to close on your new home no later than on or before the last day in November. Usually it takes 6-8 weeks to close on a home, which means a buyer has about a month of opportunity left!

Don’t waste any time or you might blow this great opportunity

It is doubtful that this tax credit will be extended so if you are a 1st time home buyer wanting to take advantage of this opportunity don’t hesitate. Give me a call at 603-548-7728 or e-mail me at monika@monikamcgillicuddydotcom for more information. I would love to help you find that perfect home.
If you are a home owner curious if now is the time to list your Southern NH home or just want to chat real estate…give us a call. As always no obligation- no pressure just good solid real estate advice.

Jay and Monika McGillicuddy, REALTORS

New Hampshire Real Estate Blog

Graphics curtesy of the New Hampsire Association of REALTORS