Well the August report from NHAR is out and there are actually a few unexpected turns!
Sales are down 10% from the same time period last year. Surprisingly Prices have only dropped 1% Statewide and in 4 counties have stayed the same or even risen!
Some experts say that perhaps one reason Sellers are reluctant to lower their expectations....is that they may be close to a Negative Equity situation and don't want to be in the position of possibly having to bring cash to the table!
January-July 2007 NH residential (non-condominium) sales
| County | Units sold | % change
2006-2007 | Average price | % change
2006-2007 |
| Belknap | 395 | -21% | $363,900 | +10% |
| Carroll | 406 | -24% | $327,900 | -2% |
| Cheshire | 407 | -21% | $230,300 | -2% |
| Coos | 190 | -16% | $140,200 | +7% |
| Grafton | 516 | -9% | $268,200 | +0% |
| Hillsborough | 1,905 | -9% | $312,700 | -3% |
| Merrimack | 783 | -8% | $274,800 | -3% |
| Rockingham | 1,552 | +3% | $367,400 | -4% |
| Strafford | 668 | -10% | $270,500 | -1% |
| Sullivan | 274 | -15% | $227,300 | +0% |
| Statewide | 7,096 | -10% | $304,400 | -1% |
(Statistics from NNEREN)
The Sales Outlook for New Hampshire may have a tinge of that "silver lining". Even though the Days on Market will be longer the market may be expanding to attract Vacation Home Buyers. Notoriety of visitors like Political Candidates and The President of France...have stimulated the interest of Foreign Investors.
I t may not be much....but it sure looks like a Silver Lining to me!
Concord New Hampshire Realtor Market Conditions
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Joan Mirantz - Joni is a Realtor® with Keeler Family Realtors, a locally owned, Customer Service oriented Firm.
Joan Publishes a monthly Newsletter "Food For Thought" under the pen name Realtor Sherpa.
(Joan also answers to Miz Maven and Miss Joni.)
Joan works in Buyer and Seller Representation with concentrations in the Merrimack Valley Area and towns surrounding Concord NH - the Capital City.
"I love what I do, and it shows in how I do it"
www.yourrealtor.biz
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Joan, I have often thought that lately after reading blogs about sellers not willing to lower their prices. If they are close to negative equity, they likely just sit and hope for a miracle . Interesting post and stats...
Jo