New Hampshire Real Estate Blog
Real estate sales and community information covering New Hampshire
Sandown NH 15 month real estate market report includes single family homes and condos.
September 2008 Market Trend Report
It sure does but last I heard oil was below 65.00 a barrel..Yippee!
This months market report by Demographer Peter Francese was released by the New Hampshire Association of REALTORS and the title really says it all. Or does it… I’ll let you be the judge. But keep this bit of info in mind, real estate is local even in NH AND Single family home sales in Hampstead NH are up 18 % as of today compared to last October but prices on average are down 6% from last year with the median prices being down 9% over last year. Up 18% for Hampstead is pretty good especially since Hampstead was pretty hard hit with declining values and sales volume.
Bad Economic News Makes Selling Anything Harder (Reprinted with permission from NHAR)
By Peter Francese
The economic outlook could hardly get much worse. Yet every one of us working stiffs still has to get out of bed every morning and try to conduct some business. There’s little doubt that the remainder of this year and next year will be a difficult one for many businesses, including real estate.
New Hampshire’s annual median family income in 2007 was nearly $75,000 – fifth highest in the nation. [Read more...]
The New Hampshire Association of REALTORS recently published their market trends report and this month Peter Francese looks back at the first quarter state wide activity level. As we’ve said before real estate is local…even in NH the market is very different from area to area. Market activity in our little corner of NH has picked up significantly and we’re seeing a lot of multiple offers, especially in the bank owned homes. Spring is here and many buyers are out and about looking and buying real estate. Reprinted below with permission from NHAR is Peter’s report in it’s entirety. [Read more...]
Interested in market activity in New Hampshire’s Grafton County? Check out my husband Jay McGillicuddy’s report on this very popular area of New Hampshire. You can find the complete report by clicking here>>>Grafton County Market Report
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
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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
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