Rye NH Real Estate Market Trends
A study of home sales data for the last four years gives us an indication that luxury home sales have dominated the market in Rye. When looking at the number of units sold with the average number of days on the market, it looks like most of the activity were in 2007 and 2008 when we knew the economy was headed down the recession path. 71 units were sold in 2007 and 2008 but in 2008 homes were selling 12% faster.
Rye NH Real Estate Values
The average selling price for a home in Rye occuring at the height of the market in 2007 was $808,381 and even though the number of units sold was the same in 2008 and homes were selling quicker, average home prices fell 11%. The number of units sold in 2009 dropped 13%, took 17% longer to sell, and the average price dropped 15% to $609,404. So far in the first half of 2010, we have seen recovery over the drop in value of 2009. Average selling price for a home in Rye is at $716,949 as of June 30, 2010.
Rye NH Real Estate Market
We are on track to see 66 units sold this year, an increase of 10% and homes are spending 10% less time on the market. Rye NH real estate trends are looking like average prices will exceed 2008 values. Rye's real estate market boosts up the sales data for the entire state and reflects the willingness of buyers to take advantage of price levels not seen since 2007. Low interest rates, lower than normal prices, and lots of inventory has put buye's purchasing power at its peak. Look for continued positive market activity.
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