The Real Estate Market Is Looking Up!

2012 1^st Quarter stats for Residential homes in Carroll County report a 37% increase in new listing activity.  Pending sale reflect an 8% increase along with the number of successful sales up by a measured 18%. The average sales value for residential homes report a market increase of 7.7%, while days on the market rose by 19.3%.

Some segments of the market such as the condominium and commercial/industrial continue to perform on the soft side; historically both markets are the first to lose value along with market interest and the last to bounce back.  Sellers remain motivated with the noted increase of ready, willing and able buyers. Current listing inventory offers many great values and incentives for today’s buyers; it continues to be a buyer’s market with a high volume of inventory to select from and financing rates being offered at lifetime lows.

1^st Quarter 2012 vs. 1^st Quarter 2011 Residential Market

• 469 New Listings… up 37%
• 115 Pending Sales…up 8%
• 165 Residential Homes resulted in a successful close…up 18%
• Average Priced Sold Homes…$246,967., up 7.7%
• Average DOM (Days on the Market) 191, an increase of 31 days or 19.3%
• Lowest Residential Sale… $29,500., 27 Pine Street, Wolfeboro (Foreclosure)
• Highest Residential Sale…$1,600,000., 118 Square Hill Road, Wolfeboro (9 acres w/water access to Lake Winnipesaukee)

1^st Quarter 2011 vs. 1^st Quarter 2011 Condominium Market

• 83 New Listings…up 23%
• 20 Pending Sales…equal with last year’s 1^st Quarter
• 29 Condominiums resulted in a successful close…down 12%
• Average Price Sold Condo…$141,936., down 31.5%
• Average DOM 119, a decrease of 86 days or 41.9%
• Lowest Condominium Sale…$48,250., 48 Ledgewood Road, Unit #6, Conway
• Highest Condominium Sale…$472,800., 44 Mountainside Attitash, Unit #44, Bartlett

1^st Quarter 2012 vs. 1^st Quarter 2011 Vacant Land Market

• 148 New Listings…up 29.8%
• 21 Pending Sales…down 25%
• 29 Vacant parcels resulted in a successful close…up 7.4%
• Average Priced of parcels…$90,779., down 15%
• Average DOM (Days on the Market) 305…an decrease of 29.7%
• Lowest Vacant Land Parcel…$10,000., 9 Lucerne Drive, Madison – .68 acres
• Highest Vacant Land Parcel…$340,000., TBD Fernald Crossing, Wolfeboro – .30 acres w/100’ water frontage on Lake Wentworth

1^st Quarter 2012 vs. 1^st Quarter 2011 Commercial/Industrial Market

• 49 New Listings… up 48%
• 7 Pending Sales…up 133%
• 5 Commercial properties resulted in a successful close…equal with last year
• Average Priced of Commercial Property…$274,680., down 33%
• Average DOM (Days on the Market) 297…an increase of 71 days or 31.4%
• Lowest Commercial Property Sale… $135,000., 2474 West Side Road, Conway
• Highest Commercial Property Sale…$586,400., 76 Lake Shore Drive, Moultonborough

Based on information from the Northern New England Real Estate Network, Inc. for the period of January 1^st through March 31, 2011 & January 1^st through March 31, 2012.

Contributed by Kathleen M. Kizer, ABR, GRI, ePRO, REALTOR, Broker Associate, Costantino Real Estate, LLC | Certified Residential Appraiser, NHCR-616 | Wolfeboro Appraisal Services “Your Lakes Region Professional”

For further inquiries or questions please e-mail to Kathleen@LakesRegionBroker.com or call direct at 603-707-2753.