Rockingham County Home Sales 2008 vs 2009
October 21, 2009 by Jay McGillicuddy
Filed under Market Reports
Rockingham County home sales on the rise!
The graphs below demonstrate home sales from September 1, 2008 to September 30, 2009 in Rockingham County. This shows listings, pending, and solds per month. As you can see both pending sales and solds are up over last year and inventory is down. All very good signs and indications that Rockingham County home sales are on the rise!
Jay and Monika McGillicuddy, NH REALTORS
603-548-7728 or 603-548-7685
New Hampshire Real Estate Blog
Jay and Monika McGillicuddy
Prudential Verani Realty
2 Main Street Hampstead NH
603-327-0246 direct line
603-434-2377 office
Some good news to share
August 13, 2009 by Monika McGillicuddy
Filed under General R.E. Information, featured
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
Rockingham County~Market report April 08 to April 09
May 12, 2009 by Monika McGillicuddy
Filed under Market Reports
Inventory is down, which is a good thing to say, closings are also down (not so good) but pendings are up. Typically it takes 6-8 weeks to close on a home once it goes under agreement. Last month’s Rockingham County report showed an increase in both solds and pendings and we should see those homes close and be reflected in next months report. This chart compares April 2008 to April 2009.
Pending residential home sales are up!
March 12, 2009 by Monika McGillicuddy
Filed under Market Reports
Pending Home Sales are up… does that mean we’ve turned the corner? Some real estate agents are predicting that we are indeed at the bottom. Many things seem to point in that direction…but it is too soon for me to call it!
The last week in February our Londonderry office alone recorded 24 pending sales! 24 in one week not in a month.
Listing Inventory for Rockingham County is down 5% from Feb o8 to Feb 09, which means there are not as many homes on the market in Rockingham County and we are seeing multiple offers on many properties.
It seems like everything in place for a perfect real estate storm… Pending Sales Are Up, Inventory down, multiple offers are starting to be the norm.
Prices have adjusted themselves and homes are much more affordable today. A perfect storm…it will be interesting to see where we go from here. All I know is that pending home sales are up 5.6% and that is a very good thing.
Rockingham County Real Estate Market …A trip through the Years
March 7, 2009 by Monika McGillicuddy
Filed under General R.E. Information, featured
Recently I had an opportunity to be on NHPR (New Hampshire Public Radio) talking about the real estate market and my feelings as to where the market is headed. They called upon me mainly because I am the New Hampshire Association of REALTORS 2009 President-Elect. The program was all about the state of our economy and the real estate market/crisis in particular. The show I was on is called The Exchange and Laura Knoy was the host.
While I wasn’t on a terribly long time I was, I hope, able to communicate some crucial information. You can listen to the show here.
There is no doubt that January saw a major market stall as many people put home buying on hold in anticipation of what President Obama would do once he took office. Early February saw some mass confusion due to the up and down real estate stimulus package potential of a $15,000 tax credit. Some buyers moved forward in anticipation by making offers contingent upon the 15,000 tax credit becoming a reality.
Of course we all know that did not happen.
The reality is that people buy homes not sticks and bricks, they buy lifestyles, they buy a dream and while everyone wants their home to appreciate in value, it’s important to remember that long term real estate is an excellent investment.
Are we at the bottom? I really don’t know but I do know that investors have stopped looking and have started buying! Which tells a very important story. If you’re a buyer “On the Fence” don’t let this opportunity slip by you. It would be pretty sad to look in the rear view mirror someday soon and kick yourself for missing this opportunity.
The last week of February in our Londonderry office alone, we had 24 homes go pending in one week alone.
That’s a lot of homes and to me that speaks volumes.
The chart below shows a 10 year history of the Rockingham County real estate market.
| Year | Units sold | % change | Median price | % change 2 | DOM | % change |
| 1998 | 4,112 | N/A | $153,200 | N/A | 123 | N/A |
| 1999 | 4,228 | 2.8 | $169,900 | 10.9 | 83 | -33 |
| 2000 | 3,896 | -7.9 | $200,000 | 17.7 | 77 | -7 |
| 2001 | 3,662 | -6 | $237,850 | 18.9 | 69 | -10 |
| 2002 | 3,797 | 3.7 | $264,900 | 11.4 | 72 | 4 |
| 2003 | 3,551 | -6.5 | $285,400 | 7.7 | 75 | 4 |
| 2004 | 3,889 | 9.5 | $314,373 | 10.2 | 75 | 0 |
| 2005 | 3,458 | -11.1 | $337,500 | 7.4 | 81 | 8 |
| 2006 | 2,628 | -24 | $330,000 | -2.2 | 112 | 38 |
| 2007 | 2,576 | -2 | $316,000 | -4.2 | 132 | 18 |
| 2008 | 2,286 | -11.3 | $285,000 | -9.8 | 135 | 2 |
Rockingham County real estate dilema…
December 2, 2008 by Monika McGillicuddy
Filed under Market Reports, featured
You may have noticed that I’ve posted a few Absorption rate charts for some of our local towns. I’m planning on doing some more even though I know they’re boring reading unless of course you happen to live in that town and are thinking of selling or you already have your home on the market.
To date I’ve posted Hampstead, Atkinson and Salem NH. But what does it all really mean and why should you care about Absorption rates?
Why should I care?
Traditionally Absorption Rates are used to watch market trends. is it a buyers market? A sellers market? Or is it a balanced market? It is also used by REALTORS to help determine how long it would take a particular property in a particular price range to sell. Just to give you some perspective a sellers market absorption rate would be less than six months. In 2005 at the height of our sellers market in Southern NH the absorption rate in Hampstead was three months or less. Today it’s a very different story.
The rule of thumb is…
Sellers Market = less than six months (usually 4-5)
Balanced Market = six months supply
Buyers Market = over six months supply
It’s not rocket science
But it gives you a snap shot of where we are. An Absorption Rate for all of Rockingham County shows us to have an average of 12.2 months supply of homes on the market. Of course that just confirms what we already know but it will be interesting to see how this changes next month. Will the numbers increase or decrease? What do you think?
*All reports are published Nov. 2008, based on data available at the end of Oct. 2008.
All reports presented are based on data supplied by the Massachusetts Real Estate and New Hampshire Real Estate or their MLS. Neither the Associations nor their MLSs guarantee or are in anyway responsible for their 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.
