With foreclosures on the rise, the nasty "R" word (recession) looming around, and the ever present media onslaught of a declining real estate market. Have you let your fears create a sense of insecurity, and are you letting your dreams slip away?
The one major thing the national news media is not stating, is that all real estate is local. What do I mean by local? New Hampshire, and Strafford County in particular has seen a relatively steady real estate market. The small declines in prices, and small increases in average days on the market (DOM), shows the leveling and stabilizing of the Strafford County New Hampshire real estate market.
Real Estate Market Trend (Year-end 2007): Strafford County
Residential Sales | 12-month 2007 VS. 12-month 2006 | December 2007 VS. December 2006 |
| Total sold | Median price | Avg. DOM* | Total sold | Median price | Avg. DOM* |
State | | | | | | |
2006 residential | 1,260 | $249,900 | 94 | 84 | $234,400 | 108 |
2007 residential | 1,085 | $245,000 | 113 | 67 | $237,900 | 149 |
Percent change | -13.9% | -2.0% | 20% | -20.2% | 1.5% | 38% |
Condominium Sales | 12-month 2007 VS. 12-month 2006 | December 2007 VS. December 2006 |
| Total sold | Median price | Avg. DOM* | Total sold | Median price | Avg. DOM* |
State | | | | | | |
2006 condo | 397 | $141,900 | 85 | 25 | $153,000 | 120 |
2007 condo | 267 | $180,000 | 118 | 11 | $169,900 | 97 |
Percent chanQe | -32.7% | 26.8% | 39% | -56.0% | 11.0% | -19% |
Statistics are based on information from the Northern New England Real Estate Network (NNEREN) for the respective periods shown for the respective regions in the State of New Hampshire or all towns in the State of New Hampshire. All analysis and commentary related to the statistics is that of the New Hampshire Association of REALTORSand not that of NNEREN.
My advice to any home-buyer in the Strafford County New Hampshire area is to listen to the advice and knowledge of a local Realtor, who has the expertise and information based on the local trends of the market so you can make an informed decision.
For more information on the Strafford County real este market, please contact
Bill Somerset Century 21 Central Falls Realty Dover New Hampshire 03820
EMAIL: bill@billsomersethomes.com WEB: http://www.billsomerset.com/ -or-
www.billsomersethomes.com
Don't let your dreams slip away........ become an informed and educated buyer!
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