Brentwood NH Real Estate Market Activity August 2010
We are looking at homes sold data for the last four years verses the last twelve months to determine where the Brentwood NH Real Estate market is headed. In 2006, 42 homes sold and spent an average of 123 days on the market. 2007 saw a 21% jump in the number of homes sold and the average days on market bumped up 31% to 161 days. 2008 brought us another increase of 8% in the number of homes sold at 55 and they spent an average of 5.5% less time on the market at 150 days. A dismal perfomance in 2009 (despite the ongoing Federa Home Buyer Tax Credit) with a plunge of 25.5% in the number of homes sold at 41 with average days increasing as well to 177.
Brentwood NH Real Estate Average Sales Price
At the height of our study, 2006's average sales price was $422,957 and fell 8% in 2007 to $388,839. In 2008 when we saw more homes selling and spending less time on the market, average sales price dropped another 13% to $337,358. Upon 2009's dismal performance, average sales price fell another 5% to $319,834.
Brentwood NH Real Estate Market Trend
In the last twelve months we have seen a 12% increase in the number of homes sold with average days steady at 177. Average sales price has dipped slightly to $318,785. There is no doubt the now expired Federal Home Buyer Tax Credit had an effect on the real estate market in Brentwood. Unfortunaltely, the Tax Credit was an artificial component of the market and had its un-natural results. As we see the market headed back to normalcy, buyers understand that low interst rates, low home prices, and lots of inventory makes it easier and more affordable to purchase in Brentwood NH. Investment Strategy 101: buy low, sell high. This study shows that there is extreme upside potential if one were to purchase today.
Is NOW a good time to purchase Brentwood NH Real Estate? You bet!! That's good news for sellers, too.
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