Dover NH Real Estate Outlook 2013

It has been a great year for Dover NH Real Estate buyers and sellers.  The number of homes and condos sold is up 23% over last year.

 Dover NH Home Values

Looking at the Average Sales Price for the last four years verses the Median Sales Price, we see similar trends.  Upward.  Because Average Sales Price can be artificially skewed by an extremely high or low transaction, Median Sales Price is a better indicator of price trends.

We see that Median Sales Price has taken a significant hike this year.  Here's why.

Dover NH Inventory Hurting

It's great that Dover NH Real Estate has had such a great year except for the fact that we usually have 200-220 homes for sale at any given time.  The current inventory is down to 157.  With less homes for sale and more buyers seeking Dover NH Real Estate, sellers are able to get a little more for their properties now.

With mortgage rates at the lowest levels in years, buyer's purchase power is at it's peak.  As home prices head upward their purchase power erodes.  Sellers of Dover NH Real Estate will benefit from the mortgage rates being low.  If mortgage rates were to increase soon or alarmingly fast, we could kiss any of the "recovery" good-bye.

If you want to buy a home while the conditions are still good, you'll want to exploere your 7 Best Finance Options

Predictions For 2013

My predictions for Dover NH Real Estate in 2013 is going to be on the cautious side.  Given the inventory issue, I'll predict that home sales will stay steady in terms of units and may even dip a little.  Home values will continue to elevate because of less inventory.  As long as mortgage rates stay low we'll see a good market.

   This Report Brought To you By Marty Patrizi

Marty is a Realtor with The Bean Group and he can be reached for more information or comment direct at 603-781-4099 or by email marty.patrizi@beangroup.com.

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