Good News for So. New Hampshire Home Buyers and Sellers

New Hampshire Homes Sales - 2010 and Beyond

               There is good news for New Hampshire home buyers and sellers. 

 New Hampshire is leading the way to economic recovery as recently reported by New Hampshire demographer, Peter Francese, Director of Demographic Forecasts for the New England Economic Partnership.  Francese points to the Philadelphia Federal Reserve Bank's index of economic activity which shows New Hampshire's index is the highest in the US (189 in New Hampshire compared with 150 for other new England states). 

               Another important indicator of New Hampshire's recovery is the unemployment rate which is among the lowest five in the country.  

               Market conditions in New Hampshire such as plentiful inventory, competitive prices and historically low interest rates point to a recovering housing market.  Nonetheless, real estate professionals agree that it is too early to make any predictions for 2011 at this time.   The impact of continuing foreclosures on the housing market in New Hampshire is unknown at this time.

                Here is an overview of the real estate market in 2010. 

               The number of home sales sold in 2010 dipped slightly from 2009, while the median price of those homes showed a modest increase per the December report issued by the New Hampshire Association of REALTORS® - NHAR.  In 2010 there were 10,525 residential units sold compared to 10,810 in 2009 - a decrease of 2.6%.

                The median price of a home in 2010 was $215,000 which was ahead of the median price of $212,000 in 2009 - by 1.4%.   December 2010 sales were a head of December 2009, by 2.2% and the median price was 3.8 % ahead of December 2009.  Homes were on the market an average of 117 days in 2010 which represented no change from 2009. 

               Four of New Hampshire 10 counties saw unit sales increase in 2010 compared to 2009 (Grafton, Belknap, Rockingham and Carroll).   Hillsborough County saw a unit sales decrease by 9.1% in 2010 (2,669 homes in 2010 vs. 2,935 in 2009).  However, the median sales price in Hillsborough County showed an increase from $230,000 in 2009 to $233,000 in 2010 - a 7% increase.   Average days on market increased from slightly from 90 to 92 days.

               Condominium sales in New Hampshire declined 4.3% in 2010.  The average sales price for condominiums remained at $160,000.

               The interest rates continue to be at historically low rates and the inventory and pricing is advantageous to Buyers.  Buyers who are confident about their jobs should seriously consider buying a home.  Otherwise, they may miss an opportunity that may not come along again for many years.  Sellers who prepare their homes and  price them for the current market conditions are able to sell.

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Source: New Hampshire Association of REALTORS®/ Northern New England Real Estate Network
"Copyright 2010 Northern New England Real Estate Network, Inc. The reproduction of these statistics is done with the permission of NNEREN. The statistics referenced herein are based solely upon listings submitted to the multiple listing service database of NNEREN and do not include all properties sold and marketed for sale. ALL INFORMATION DEEMED RELIABLE BUT NOT GUARANTEED. Any analysis or commentary related to these statistics is that of the commentator, and not NNEREN."

Disclaimer: Information herein may come from various sources, some of which may not be reliable and may change without any notice. Joan Whitebook does not guarantee or is any way responsible for the accuracy of the information in this blog and information provided is without warranties of any kind, either express or implied. Information on this blog represents the opinions and ideas of the author; comments by others may not express the views of the author.  Joan Whitebook (c) 2011, BHG the Masiello Group, Andrew White Managing Broker.  Licensed in NH  Photos Copyright © 2011 By Joan Whitebook, can be used with written permission only.