Pembroke NH Real Estate Report August 2010
We looking at homes sold data for the last four years verses the last twelve months to determine the state of the market in Pembroke NH. There were 72 homes.sold in 2006 with an average days on market of 98. 2007 saw 8 less homes sold at 64 with a lenthy 146 days on market. With the recession in full bloom in 2008, 83 homes sold and days on market was 121. While the Federal Home Buyer Tax Credit was established in 2009 to prop up a sagging national market in 2009, 73 homes sold and spent 103 days on market. In the last twelve months we have seen 81 homes sold with only 88 days on market.
Pembroke NH Real Estate Average Sales Price
The average sales price was $218,856 in 2006 and rose 13% to $229,315 in 2007. 2008's average sales price fell 13% to $199,784 and another spill of 3% in 2009 to $193,448. In the last twelve months, average sales price has taken another 4.5% hit to $184,919. Comparing Pemboke's ASP chart on the left to the State's ASP chart on the right, we see that Pembroke's average prices haven't kept pace with the State's average.
Pembroke NH Real Estate Market 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 average prices of today with that of only four years ago gives todays buyers an excellent opportunity to grow equity over the near future.
With 58 homes and condos on the market in Pembroke as of 9-13-2010, buyers understand they have to act now to take advantage of the lowest interest rates in decades, reasonable home prices, and lots of inventory.
Is now a good time to buy Pembroke NH Real Estate? You bet! That's good news for sellers, too.
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