Stratham New Hampshire real estate activity for this past year, 2007, remained about the same level as we saw in 2006.
There were fewer homes that came up for sale, but just about the same number of homes sold in both years, and it took just about the same amount of time to sell in both years as well. Condos in Stratham fared about same 2007 as they did in 2006.
STRATHAM NEW HAMPSHIRE Real Estate Market Information for 2007:
The total number of homes that were offered for sale in Stratham in 2006 was 177, and in 2007 we saw 153 homes offered for sale. The average asking price in 2006 was $496,148, and in 2007, the average asking price was $471,604.
In 2006, there were 79 Stratham homes sold, and in 2007, there were 74 homes sold. The average sold prices saw a little decline from 2006 to 2007. In 2006, the average sold price was $467,167, and this past year brought an average sold price of $437,235.
Interestingly enough, it took just about the same amount of time to sell a home in 2006 as it did in 2007 in Stratham. Average days on the market in 2006 were 150 days and last year, it took an average of 148 days to sell a Stratham home.
Sellers, on average, received 98.7% of their last asking price as their final selling price in 2006. And in 2007, sellers received on average 97.1% of their last asking price as their sold price.
Stratham NH condos that were offered for sale in 2006 and in 2007 did see a drop in those numbers. In 2006, we had 153 condos offered for sale, and in 2007, we had 105 condos come on the market for sale. The average asking price of those condos in 2006 was $471,604, and the average asking price in 2007 was $310,744. These prices reflect some higher end new construction condos that were on the market in 2006 and were pretty much sold out that same year.
We saw 74 condos in Stratham sell in 2006, compared to 68 that sold in 2007. And again, we see the same difference in the sold prices that we saw in the asking prices due to those same new construction condos that sold. In 2006, the average sold price was $437,235, and in 2007, the average sold price was $307,247.
Average days on the market shortened up somewhat this past year. In 2006, it took an average of 148 days to sell a Stratham condo, and it took an average of 121 days to sell in 2007. Sellers received an average of 97.1% of their last asking price in 2006. In 2007, we saw that percentage increase to just about full price, 99.4%.
With this kind of information readily available, it's just further proof that all real estate is local, and that the media that continues to harp on a 'national real estate market' really need to get a clue and understand that there is NO SUCH THING. There really is also no such thing as a 'regional market' either. In Rockingham County alone, the market varies greatly from here in the Seacoast to just 20-30 minutes inland.
It's really very important for consumers to speak to a local real estate expert, and disregard the broad brush the news continues to paint all of us with. We have good news in the real estate industry right here in our own backyard!
Stratham NH is a beautiful quiet bucolic little town that was, up until just a few years ago, mainly rolling farm lands and apple orchards. Slowly, over time, some of that gorgeous land has been developed, and there are new and newer pocket neighborhoods that have been developed, all the while retaining that quiet beauty.
Stratham is just 5 minutes from Exeter and just 10-15 minutes from Portsmouth. The ocean and beaches are less than 10 minutes away, and major airports in Boston and Manchester are an easy 30-40 minute straight highway drive. Talk about a great location - VERY accessible to everything!
7 Comments on Stratham NH Real Estate Market - 2007 Recap
Ann interesting data, especially in the differences between homes and condo's. But like you said this figure was affected by the upper end new condo's that went on the market in 2006, but not in 2007.
First of all...it looks absolutely gorgeous in NH. And next...your point: "With this kind of information readily available, it's just further proof that all real estate is local, and that the media that continues to harp on a 'national real estate market' really need to get a clue and understand that there is NO SUCH THING. There really is also no such thing as a 'regional market' either. " is so right on!!!! THX...once again...for your wise words.
George - I found those differences really interesting, which is why I went back and looked closer at what caused that to happen. Then I realized it was the new construction condos that were built and sold that caused that difference. And that's something only a local expert would know - certainly not the media who do no researching of facts like that.
Andrew - we do love our 'simple lines' up here in our architecture, that's for sure. And that's an interesting observation, too.
Judi - thanks for the comment. We don't usually have this much snow here in my area along the coastline, but when we do get it, we just deal with it as part of our every day living. We kinda have to, since we live in New England!
Judy - it is very pretty, and still some beautiful farmland and country settings to admire. And the schools are great!
Many thanks for the comments - much appreciated! Ann
janeAnne - I haven't seen you in a bit, glad you stopped by to read this post!
Stratham really is a beautiful little town with very little commercial build-up. Farms, open land, some neighborhoods tucked here and there - quite peaceful.
I get really tired of hearing the media trying to paint the whole country as though it's just one big real estate market. They really need to actually do some REAL research and learn something about what they're talking about. I have to think they really must know that, they all live somewhere, and that somewhere has its own market. They could start in their own neighborhoods and towns to see just what the market's like right there. OK, off my rant!
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Ann interesting data, especially in the differences between homes and condo's. But like you said this figure was affected by the upper end new condo's that went on the market in 2006, but not in 2007.