Londonderry NH Real Estate Report August 2010
Today we are looking at homes sold data for the last four years verses the last twelve months to determine the state of the market. In 2006, 361 homes were sold and spent an average of 91 days on the market. This indicates a pretty hot market for Londonderry. In 2007, 14 less homes sold at 347 but days on market went up to 128 indicating a chilled market with a recession looming. While the recession was in full bloom in 2008, only 243 homes sold (off 104 units) and days on market were 130. While the Federal Home Buyer Tax Credit was established to prop up a sagging national market, 2009 saw a few more homes sold at 252 with days on market lessening to 106. In the last twelve months we see homes sold falling off again at 243 but days on market has dipped to 102.
Londonderry NH Real Etate Average Sales Price
The average sales price for 2006 was $285,015 and dipped slightly to $281,783 in 2007, 2008's average sales price fell 2.2% to $275,405 and 2009's average plunged 16.5% to $230,005. In the last twelve months average sales price has improved 3% to $236,824.
Londonderry NH Real Estate Trend
There is no doubt the now expired Federal Home Buyer Tax Credit had an effect on our market. Unfortunately, the Tax Credit was an artificial component of the market and had it's un-natural results.
Comparing prices from only four years ago and observing prices have turned the corner and appear to be on the way up, Londerry presents todays buyers with a great opportunity for nice equity gains in the near future.
With 178 homes and condos on the market as of 9-12-2010, buyers understand they have to act now to take advantage of the lowest interest rates in 60 years, reasonable home prices, and lots of inventory.
Is now a good time to buy Londonderry NH Real Estate? You bet! That's good news for sellers, too.
For more information and other real estate resources, Click Here => visit my website.
Thank you for your attention and your comments on this study are welcome.
Comments(0)