Spring has arrived in New Hampshire and the housing market is in full Bloom.
The melting of the snow brings good news for both Buyers and Sellers!
For Buyers, homes remain more affordable and interest rates remain historically low, making it a great time to buy.
For Sellers, there is a lack of inventory of homes in many parts of Southern New Hampshire which is increasing the demand for housing. The shortage of inventory, coupled with an increase in demand has resulted in some multiple offers and prices inching upward.
The continuing recovery in the housing market has been evidenced during the past 13 months by a steady increase in unit sales coupled with the drop in inventory. These trends are having an impact on New Hampshire residential median prices as evidenced by sales in February, which according to the New Hampshire Association of REALTORS® (NHAR), saw their strongest percentage gain in at least six years.
There were 681 New Hampshire single family homes sold in February 2013 as compared with 678 in February 2012. The median price was $199,000; a 12.2 percent increase over the median price in 2012. This was the largest percentage price gain in the six-plus years on record with NHAR.
The sales volume in February (meaning the total dollars exchanged in those sales) was 10 percent above that number in 2012 ― $152.5 million compared to $138.4 million.
Condominium sales also saw a marked upswing in February, with 19 percent higher unit sales, 6 percent higher median price and 22 percent higher sales volume than in February 2012.
Four of the 10 New Hampshire counties saw residential unit sales increases in February, Carroll County was unchanged, and five counties saw unit sales numbers decline, compared to the same period a year ago. Median prices saw an increase in eight of 10 counties, including 29% in Belknap and 27% in Sullivan County.
With the transitions we are experiencing in the current market, it is important to work with a real estate professional who is on top of the latest trends so that Buyers and Sellers can make an informed buying or selling decision. Please contact me, I would be happy to help you Make the Right Move SM.
It certainly looks like the New Hampshire Housing Market is on the road to recovery and this is good news for both buyers and sellers!
New Hampshire was named the Most Livable State in America
(6th year in a row!)
New Hampshire is theSafest State in America, 2010
New Hampshire is the Second Healthiest State! 2012
New Hampshire is the Best place in the US for children to live!
The interest rates continue to remain historically low, and homes remain more affordable, It IS A GOOD TIME FOR BUYERS TO BUY.
Sellers in Southern New Hampshire who prepare their homes and price them for the current market are selling their homes more quickly and in some cases, are getting multiple offers. IT IS A GOOD TIME TO SELL.
If you would like to know if it is a good time to buy or sell, please contact met and I will be happy to discuss how I might be able to assist YOU. 603-566-1715 or email RealEstateAgentNH@gmail.com.
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Note 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 on all towns in the State of New Hampshire. All analysis and commentary related to the statistics may be that of the New Hampshire Association of Realtors® and not that of NNEREN.Copyright 2009-2013, 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.
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. BHG, The Masiello Group, 603.889.7600. Copyright © 2013 By Joan Whitebook "The New Hampshire Spring Real Estate Market is in Full Bloom"
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